DORAL, Florida, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTCQB: ETST) (“ETST" or the “Company"), an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, is pleased to share that Earth Science Foundation, Inc. (“Foundation”), the creation of which it has supported, is now a 501(c)(3) organization. Obtaining non-profit status enables the Foundation to accept tax-free contributions that will fund further studies of cannabidiol (“CBD”) products with a primary object of helping those who suffer from cancer, epilepsy, depression, autism, chronic pain, dementia, drug/alcohol addiction, and AIDS.
As of February 11, 2019, the Foundation is officially exempt from federal income tax under Internal Revenue Code (IRC) Section 501(c)(3) and is qualified to receive tax deductible bequests, devises, transfers or gifts under Section 2055, 2106, or 2522. Donors can deduct contributions they make to the Foundation under IRC Section 170.
In March 2018, ETST President and Director Nickolas S. Tabraue became the Foundation’s first contributor by donating 50,000 of his shares of ETST common stock. This and other contributions will enable the Foundation to donate High Grade Full Spectrum Cannabinoids to patients in need and fund charitable events as well as a contribution campaign to raise awareness of the Foundation’s mission.
Contributions will also be used to further the development of a CBD-based formula for opioid addiction and to advance ongoing research, including CBD IP formula experiments.
“The Earth Science Foundation is focused on supplying CBD oil to individuals suffering from cancer, epilepsy, depression, autism, chronic pain, dementia, substance abuse, AIDS, and other ailments,” states Tabraue. “This echoes the broader corporate goal to help people improve their quality of life. Achieving 501c3 status is a significant step forward and we will continue to support the Foundation in any way we can in the public interest and for the good of all.”
About Earth Science Tech, Inc. (ETST)
Earth Science Tech, Inc. (“ETST”) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. There are positive results in studies on breast cancer and immune cells through the University of Central Oklahoma, in addition to studies through DV Biologics that prove the Company’s CBD oil formulation lowers cortisol and functions as a neuro-protectant, with positive result case studies through key health organizations. ETST formulates, markets and distributes the CBD oil used for its studies to the public, offering the most effective quality of CBD on the market.
To learn more, please visit: www.EarthScienceTech.com
ETST currently has 2 wholly owned subsidiaries and favored entity focused on developing its role as a world leader in the CBD space, expanding its work in the pharmaceutical and medical device sectors:
Earth Science Pharmaceutical, Inc.
Earth Science Pharmaceutical ("ESP") is a wholly-owned subsidiary of Earth Science Tech, committed to the development of low cost, non-invasive diagnostic tools, medical devices, testing processes and vaccines for sexually transmitted infections and/or diseases. ESP's CEO and chief science officer, Dr. Michel Aubé, is leading the Company’s research and development efforts. The Company’s first medical device, Hygee™, is a home kit designed for the detection of STIs, such as chlamydia, from a self-obtained gynecological specimen. ESP is working to develop and bring to market medical devices and vaccines that meet the specific needs of women. To learn more please visit: www.EarthSciencePharmaceutical.com
Cannabis Therapeutics, Inc.
Cannabis Therapeutics (“CTI”) is a wholly-owned subsidiary of Earth Science Tech, Inc. poised to take a leadership role in the development of new, leading-edge cannabinoid-based pharmaceutical and nutraceutical products. CTI is invested in research and development to explore and harness the medicinal power of cannabidiol. The company holds three provisional application patents for a CBD product that is focused on developing treatments for breast and ovarian cancers, as well as two generic CBD based pharmaceutical drugs. To learn more please visit: www.CannabisThera.com
Earth Science Foundation, Inc.
Earth Science Foundation (“ESF”) is a favored entity of Earth Science Tech, Inc. ESF is in the process of becoming a non-profit organization to accept grants and donations to conduct further studies and help donate Earth Science Tech's effective CBD products to those in need. To learn more please visit: www.ETSTFoundtion.org
SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the CSE, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Nickolas S. Tabraue
President, Director & Chairman