The Company has expanded into a new, larger production and warehouse facility to meet the increasing retail and consumer demand for the Company’s cannabidiol (CBD) hemp oil products.
SAN DIEGO, July 23, 2019 (GLOBE NEWSWIRE) — Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today the expansion of its operations with a new production and warehouse facility.
The facility, covering 16,000 square feet, is cGMP compliant and is registered with the State of Utah. The facility has been designed to help the Company increase warehousing, fulfillment and production activities related to the Company’s CBD hemp oil products.
“As the Company has seen a significant rise in sales and overall revenue this year, we believe that this new facility will help us strengthen our customer base and meet the needs of today’s burgeoning cannabis market,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Our team is working diligently to create processes that will guarantee that this facility will create more transparent and valuable relationships with retailers and consumers around the world.”
Medical Marijuana, Inc. recently announced that the Company is in the process of expanding its operations in the U.S. and Latin American to reach new markets in Europe and Asia and this facility will support the increased domestic and international production needs.
“Medical Marijuana, Inc. is the first company in the U.S. to create a CBD product pipeline and we intend to continue to pioneer the industry as we open this facility. This new facility will enable us to continue improvement of our operation, and reduce materially our cost of goods expense as we continue to grow revenue and expand opportunities for the company,” said Medical Marijuana, Inc. COO Blake Schroeder. “This showcases our commitment to remaining an industry leader and continuing to provide our customers, retailers and shareholders with the assurance and value of quality products and operations.”
About Medical Marijuana, Inc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its internal R&D and scientific team and its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Kannalife, Inc.
Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. Medical Marijuana, Inc.’s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com.
To see Medical Marijuana, Inc.’s corporate video, click here.
Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.’s shop.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
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