SAN DIEGO, April 4, 2013 /PRNewswire/ -- Medical Marijuana Inc (OTC Pink: MJNA) is pleased to inform shareholders that all Company divisions are healthy and foresee increasing revenues from overall operations. With the close of the first quarter of 2013, the Company has seen its revenue and net income increase significantly over the prior quarter. Updates are provided for each of our portfolio companies and investments as we enter into the second quarter – where we expect explosive growth, fueled by new products coming onto the market, further market penetration, product awareness through extensive advertising with the companies first ever significant print-television and internet campaigns, as well as with key marketing and distribution agreements with non-industry related distribution companies.
Medical Marijuana Inc. has spent years developing its portfolio of products and services. This April, the company launches more innovative products and services than it has combined since its inception over four years ago. This month sets the stage and tone for it's over the counter products.
Update on current events-
CanChew Biotechnologies – has two developmental product arms to bring the cannabinoid based chewing gum to market. In the United States the CanChew Advantage Chewing gum will be available on an over the counter basis and online and without prescription or the need for a medical marijuana recommendation\card. Each piece will contain approximately 7 mg of naturally-derived CBD to provide health and wellness benefits to consumers. The company has spent considerable amounts of resources to develop this product and will be launching sales later this month.
Canchew successfully carried out its soft launch, as well as its free product trial and market survey in December of last year. The free product trial and market survey proved invaluable with its anecdotal feedback and survey information. The company had over 1500 applicants for the free product trial and for those who participated in the free product trial we will have a "thank you" in the form of a special twelve month subscription discount.
The company has been in negotiations for the distribution and marketing rights with several regional, national and international firms who have sought out potential licensing for territorial distribution.
In Europe a form of the gum, yet to be officially named, will undergo clinical testing this summer as one of the stages necessary for eventual European FDA approval. This medication will consist of a combination of cannabinoid based compounds. The indications for use would include patients with chronic pain, muscular spasticity from multiple sclerosis, and nausea management from side effects of chemotherapy in cancer patients. The company has allocated this year twelve ($12m) million dollars in company equity to secure the clinical development of this product.
Rebranding of CanChew Biotechnologies Corporate Website to be completed in April, which includes: The clinical development path with timelines and interactive update modules, additional and expanded research library.
Rebranding and launch of the Canchew over the counter product sales and informational website, which includes: Canchew Store front and shopping carts, expanded social media and blog components, store availability tracker and locator, additional subscription options for clients in need of a larger supply of Canchew advantage CBD chewing gum.
Canipa Holdings – Set up in 2012 to handle the marketing, sales and distribution of Medical Marijuana Inc.'s portfolio of products throughout Europe and the European Union Trade Zone participant counties. This year we have seen medical marijuana being legalized in Italy and the Czech Republic, with nearly a dozen more countries in discussion of legalization for medical and\or recreational use. The company has set up a distribution network of pharmacies, clinics, wellness centers and retail stores that will allow us to offer our products to this developing market.
Canipa has finalized its terms for marketing, sales and manufacturing for 20 plus of its products for the EU and US markets. Of these products, 22 have along with the manufacturing agreements, received EU Certificate of Health Safety Free Sale Certificates. This is one of the most significant developments in the Medical Marijuana Inc. product development. These products will be available through our entire pipeline of distribution and will over the coming quarters cross promote and develop brands for the US\EU markets that address different consumer audiences and demographics.
Company launching its corporate and sales sites online. These sites will initially have the EU approved products for sale on them, but will be rapidly focus on integrating our entire portfolio of MJNA products.
The company is in negotiations with senior level political lobbyist in regards to additional product approvals, as well as working with them to educate the regulatory authorities on the use of cannabis based products. The company is actively pursuing with these regulatory authorities the integration of MJNA services in the fields of Seed to sale tracking, compliance, grow technologies, packaging, process, testing and product licensing.
HempMeds – HempMeds was established to develop online platforms for the marketing and sales of cannabis\hemp based consumer products. The company has been in development of its platform and actively acquiring IP, additional online properties, marketing and awareness partners for the past two years. The company recently finished a transaction with RabbitHoleTechnologies to license and develop through a series of linked back end database platforms with more than 1700 online properties and counting. These 1700 plus properties truly gives the company a significant advantage when it comes to marketing and sales of products in our verticals. The sites are managed real time with a database user interface, that allows all 1700 plus sales sites to be updated on pricing, news and many other features at a simple managers interface, which drastically saves capital and time, while dramatically increasing efficiency, tractability and our ability to quickly launch products. The company believes HempMeds has the ability to create groundswells within the cannabis and hemp industry online product sales and marketing community.
These online properties serve many roles for MJNA and its brands:
1st. It insulates competitors from entering our selected markets, by not allowing them to have specialty search term\names and domains.
2nd. It surrounds the competition with like kind website and landing page feeder sites to direct traffic away from competitors websites and directly to our informational and sales sites.
3rd. It builds brand credibility for our company and pipeline of products. This is accomplished by the simple volume and density of our selected product and services search terms\ domain name combinations which lead back to our sales sites. When a client looks to purchase CBD Products, as an example we not only own that dot.com, but also wheretofindCBDProducts.com, as well as many other key search term dot.com's. This leads to the company's advantage and significant position for online product rankings and sales.
4th. When someone looking to enter the market we are in, wants to launch a product, and googles or finds that those dot.com's are taken and\or that the page rankings are saturated with a company's sales and informational sites those competitors will have some either look at a different marketing platform (like ours) or look to compete with high costs advertising and awareness campaigns.
The company will launch the websites, landing pages and product awareness campaigns in conjunction with the announcements this month of product releases.
KannaLife Sciences – Medical Marijuana Inc. continues to expand its ever growing portfolio of innovative businesses and investments. Our newest partnership with KannaLife Sciences lends a perfect fit for the Medical Marijuana Inc. family of companies. KannaLife has spent years in the development of standardization in packaging for cannabis based products. Standardization of packaging for cannabis based products is not just a need but a necessity. The company looks to set the standard in which the industry will adapt and develop from. Over the coming months KannaLife will update the industry on its packaging and product development.
KannaLife was recently awarded an Exclusive License Agreement With National Institutes of Health – Office of Technology Transfer ("NIH-OTT") for the Commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent"). The Companies are expected to soon announce clinical development plans for a pharmaceutical medication based on cannabinoids for the indication of Hepatic Encephalopathy.
The company believes KannaLife will be a leader in several key markets. First, in the development in cannabinoid based pharmaceutical drugs. Second, the standardization of packaging within the cannabis products industry. Third, with it's over the counter cannabis based products. The company has a strong management team in place with the vision, foresight and skillset that MJNA looks for in its investments.
To learn more visit www.KannaLife.com
PhytoSphere Systems LLC – is the worlds leading cannabinoid based bio-technology Company. The company recently entered into an agreement with CannaVest Corp (OTC:CANV) for the rights to use its brand name PhytoSphere Systems, along with the outsourcing to CannaVest its hemp facility cultivation, management and processing. The company is still owned eighty (80%) percent by Medical Marijuana Inc., and as part of the transaction MJNA became a significant shareholder in CANV.
PhytoSphere Systems will still play a significant role in the company's overall game plan, with the licensing and outsourcing to CannaVest, the company is able to save nearly ten (10M) million dollars of additional infrastructure and development costs in the first two quarts of this year alone. In addition to saving a significant amount of capital, the company was able to streamline its corporate operations by not having its focus diverted by a multi-country multi-continent highly management intensive business, while still allowing MJNA and its subsidiaries a constant supply of these high quality ingredients, just above manufacturing and infrastructure costs and well below wholesale and retail pricing.
As the demand for CBD-based products continues to grow, PhytoSphere is constantly expending their operational capacity to meet this demand. Internally, the company is expected to deliver several hundred kilograms of raw Hemp CBD oil this quarter to Medical Marijuana Inc. and the family of companies.
PhytoSphere will offer its raw materials to the open market starting May 1st 2013. With this raw materials sales launch, the company will launch its updated corporate information and sales sites, where customers can purchase a variety of products with several financing options for large scale wholesale accounts.
These products consist of the following:
- High CBD hemp Oil Standard product
- CBD hemp oil with concentrations from 20-80%
- Custom order concentrations and viscosities
- Mico-encapsulated CBD oil powders with custom concentrations
- White label product manufacturing
- CBD hemp Vapor Oil, for e-cigarettes and vaporizers
- CBD hemp oil in the acid form or that has gone through the decarboxylation process
- Hemp Protein powder
- Hemp Seed Oil
- Hemp Stock Oil
- Hemp Oil Blends, standard and custom
- Hemp oil and other custom product blends and manufacturing
The company will also provide the following services:
- Product manufacturing
- Custom product formulation
- Custom label and packing design
- Hemp cultivar standardized reference database
- Custom and Contract hemp farming
- Seed to sale, full scale site development, management and training
- Capital investments in new and existing brands within our industry
- Toll processing, packaging and logistics for raw materials and products
- Research and Development
PhytoSphere is in process of manufacturing six times the amount of oil it produced last year.
Company is expanding its warehouses, processing, manufacturing and logistics facility in the United States (California) to handling expanded volume.
Company produced its highest concentration of CBD oil this last quarter and has expanded its processing abilities to create a specialty high grade stable product aptly name "Real Scientific Oil" and sister brand "Harlequin CBD Oil", which websites and sales sites will launch this month.
Red Dice Holdings – established as a holding company, Red Dice owns the formulas, equipment, brands and intellectual property of the Dixie brand of products which includes Dixie, Dixie Botanicals, Dixie Elixir's, Dixie Edible's . They are involved in the distribution the Dixie Botanical brand of CBD-infused products. Launched in September 2012, Red Dice continues to be a leader in the industry with CBD-based health and wellness products as well as with "industry" consumer products. The company is located in Denver Colorado and has a manufacturing facility, research and development staff for the development of cannabinoid based products. The company has a portfolio of over 70 products that ranges from CBD infused capsules and salves all the way to cannabinoid infused mints and drinks.
The Dixie brand and its products are one of the worlds most recognized brands within the cannabis industry. It has achieved this through and amazing team of people who are dedication to high quality, innovative and consistent products. The company has built not only a significant foothold in its market (addressing 90% of the addressable market) but has built a solid foundation for product manufacturing, sales and distribution. The Dixie platform and value not only come from its brand, but also within its distribution pipeline.
Dixie and its management team have gotten a significant amount of press. For more information on this please click here.
The company is rapidly expanding its brand to other high growth markets.
The company is launching additional products this quarter.
Dixie is to celebrate its 3rd year anniversary at the end of April.
Wellness Managed Services – is engaged in the management, capitalization and development of Health & Wellness facilities throughout North America. Presently the Company is engaged in negotiations and discussions about expanding the scope of clinics and facilities under management.
Is finalizing key distribution agreements within its network of wellness facilities to aid in the marketing and sales of MJNA portfolio products and services.
The company has been working with international pharmacies and clinics to educate them on the value of CBD based products.
Updated and rebranded website to launch this month.
"I would like to thank our team and our loyal shareholders for their continued support. This is an exciting time for the company. Our team has been working for years to be in the position we are today. We are very excited to update shareholders on our new innovative products such as 'cbd vaporizer' our 'pet emporium' and cbd based pet products to mention just a few. I encourage all of our shareholders to sign up for our informational newsletter and email alerts, we will be offering some exciting shareholder product promotions this month," stated Michelle Sides, Chairman and Chief Operating Officer.
About KannaLife Sciences
KannaLife Sciences ("KannaLife"), is a late stage bio-pharmaceutical and phyto-medical technology company. We were created to develop natural, phyto-medical products to be used in health and wellness regimens. We are also involved in the research and development of novel new therapeutic agents to be used as transport carriers for other compounds seeking to break the blood/brain barrier as well as our own compounds to be used for the treatment and prevention of oxidative and neuro-toxic stresses born from a variety of ailments and illnesses. For more information, please visit the company's website at: www.Kannalife.com
About PhytoSPHERE Systems
PhytoSPHERE Systems is the world's leading cannabinoid based biotechnology company that develops and builds technology specifically for the cannabis industry. This includes the research, development and production of specialty cannabis cultivars. The company acquires, develops and manages traditional cannabis agricultural facilities, as well as produces cannabinoid based high value oil, extracts and products for the wholesale and retail markets.
About Dixie Botanicals
Dixie Botanicals offers innovative hemp oil products for health conscious consumers. Our formulation experts include scientists, clinical herbalists and nutritionists, who work to integrate our hemp oil into a variety of beneficial and uniquely effective over-the-counter (OTC) products– both dietary supplements and a topical balm. For more information, please visit the company's website: http://dixiebotanicals.com
For additional information and media coverage of Dixie Elixirs and Botanicals click on any of the links below:
Fast Company "Innovation Agents"
60 Minutes "Rocky Mountain High Segment"
60 Minutes "Overtime" segment
Newsweek October 22 Cover Story, "The New Pot Barons"
Newsweek Cover Story Photo Gallery
PBS / WBUR
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. For more information, please visit the company's website at: www.MedicalMarijuanaInc.com.
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.
Investor Relations Contact:
Stuart T. Smith
SOURCE Medical Marijuana, Inc.