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Cannabis Science (NASDAQ:CBIS) major shareholder Robert Melamede sold 525,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $0.14, for a total value of $73,500.00. Following the completion of the transaction, the insider now directly owns 48,278,533 shares in the company, valued at approximately $6,758,995. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Cannabis Science (NASDAQ:CBIS) traded up 33.10% on Monday, hitting $0.189. 57,056,880 shares of the company’s stock traded hands. Cannabis Science has a 1-year low of $0.033 and a 1-year high of $0.12. The stock has a 50-day moving average of $0.04 and a 200-day moving average of $0.04. The company’s market cap is $143.9 million.

Cannabis Science, Inc is a development-stage company. Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products.

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