Medical Marijuana Inc. Announces Ted Caligiuri as Interim President and CEO
SAN DIEGO, Sept. 18, 2012 /PRNewswire/ -- Medical Marijuana Inc. (OTC: MJNA), a leading hemp industry innovator, is pleased to formally announce the appointment of Ted Caligiuri as Interim President and CEO, taking over day-to-day operations from Michael Llamas who announced his leave of absence for personal business reasons.
Mr. Caligiuri has served on the Board of the Company since shortly after the acquisition of MJNA by CannaBank in early 2011. For the past two years, he has been actively involved and instrumental in a number of areas of the company, such as helping with compliance related matters, working with management to complete its 15c2-11 filing and prepare for eventual up-listing, evaluating audit and compliance firms, as well as assisting with operational issues surrounding the Company's Hemp-based CBD production.
"Given his broad expertise and heavy involvement over the past two years, Ted was a natural choice to step in and execute a smooth transition," stated Michelle Sides, Chairman of the Board. "His industry knowledge and business guidance will be an invaluable part of our company's strong growth as we move forward with Dixie X and CanChew product launches and our many other exciting developments."
A Southern California native, Mr. Caligiuri is an accomplished leader and MJNA shareholder with over 25 years of business management experience. He is known in the San Diego community not only for his business leadership, but for his involvement in several charitable organizations including the YMCA. His professional experience includes work as a management consultant and technology consultant. As a management consultant, he assisted companies in managing growth and streamlining operations. As a technology consultant, he assisted companies in the identification and proprietary control of technologies for new products, including the commercialization of NASA developed technologies. In 1991, he founded an environmental product company targeted at reducing waste by enhancing the convenience of re-usable shopping bags. In this role, Mr. Caligiuri invented and patented new consumer-focused shopping bag concepts. In the early 2000's he was the Chief Operating Officer of an ergonomic writing instrument company and was responsible for doubling sales and filing 6 patents over the course of 2 years. Currently, he works as a Real Estate Consultant for Coldwell Banker Commercial.
"I look forward to continuing to work closely with Ted, a person of high integrity and personal character, as well as our senior management team. It's an especially exciting time for our company as we roll-out our Dixie X line of CBD wellness products," says Tripp Keber, President, Red Dice Holdings.
"I appreciate the confidence that the Board placed in me to fill the void left by Michael's departure. MJNA has assembled an incredible team and an equally incredible line of revenue producing products. More importantly, we have the opportunity to help millions of people experience the benefits of our revolutionary CBD wellness products. My initial focus will be to successfully complete our 15c2-11 filing, our audits and ultimately our up-listing, as well as close the current financing transactions that continue to progress positively at this point. I look forward to working with our team to continue the success of MJNA," says Ted Caligiuri, Interim President and CEO of Medical Marijuana, Inc.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.
Medical Marijuana Inc. does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.
For more information, please visit the company's website at:
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 Food and Drug Administration (FDA). These products and statements are not intended to diagnose, treat, cure, or prevent any disease.
Investor Relations Contact:
Stuart T. Smith
SOURCE Medical Marijuana Inc.