SAN DIEGO, June 14, 2018 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first publicly traded cannabis company in the United States, announced today that the company applauds the Drug Enforcement Administration (DEA) for its recent statement on the legality of cannabidiol (CBD) -- which further clarifies that some CBD products, such as hemp-derived CBD products sold by Medical Marijuana, Inc., are legal to distribute freely throughout the United States and do not fall under the regulations of the Controlled Substances Act (CSA).
The statement clarified:
"Products and materials that are made from the cannabis plant and which fall outside the CSA definition of marijuana (such as sterilized seeds, oil or cake made from the seeds, and mature stalks) are not controlled under the CSA. Such products may accordingly be sold and otherwise distributed throughout the United States without restriction under the CSA or its implementing regulations."
The statement continued, "The mere presence of cannabinoids is not itself dispositive as to whether a substance is within the scope of the CSA; the dispositive question is whether the substance falls within the CSA definition of marijuana."
Medical Marijuana, Inc. sells hemp-derived CBD products through its distribution subsidiaries HempMeds®, Kannaway® and Phyto Animal Health. These products range from tinctures and liquids to topicals and edibles. The company was the first company to ever bring hemp-based CBD oil products to market in the U.S. in 2012 and the first to receive federal government import approvals in Mexico, Paraguay and Brazil.
"This is great news for the cannabis industry, especially for those who are complying with the decision made by the Ninth Circuit Court of Appeals," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "We urge Congress to pass the 2018 Farm Bill, which would permanently remove hemp and hemp products from the purview of the Controlled Substances Act."
About Medical Marijuana, Inc.
We are a company of firsts®. 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 details on Medical Marijuana, Inc.'s portfolio and investment companies, visit 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.
SOURCE Medical Marijuana, Inc.