SAN DIEGO, Jan. 14, 2020 /PRNewswire/ -- 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 opening of its subsidiary HempMeds® Mexico's new office in Mexico City.
"As pioneers in Mexico's cannabis industry, we are excited to announce the official opening of our new Mexico City office, which reinforces our strong footprint in the country alongside our current offices in Monterrey that have been operational since 2017," said Raul Elizalde, President of HempMeds® Mexico and Latin America. "This new office's main purpose will be to provide the public with guidance on cannabidiol (CBD) products that the Company offers to the Mexican market, the advantages that these products have over other CBD products, and relevant information about how to talk with medical professionals about using CBD for therapeutic purposes."
According to Grandview Research, Mexico's medical cannabis market size was valued at $47.3 million in 2018. Arcview Research estimates that if cannabis becomes recreationally legal in Mexico, the country's medical and recreational cannabis markets combined could be worth more than $1 billion by 2024.
Since the establishment of HempMeds® Mexico, the company has worked to promote access to CBD products by supporting nonprofit organizations that help provide quick access and by working with the government to establish an importation process that allows patients to get Real Scientific Hemp Oil-X™ (RSHO-X™) with ease. HempMeds® Mexico was the first company to receive a COFEPRIS federal government import permit for a cannabis product, RSHO-X™, for a medical indication and continues to collaborate with local authorities, health professionals and the general public to promote the entire industry and its potential to positively impact the country's economy.
"We've worked tremendously hard to bring CBD to Mexico and our success there has been recognized globally for our growth and innovation," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "We are optimistic that this new office will allow us to expand our business in the country more than ever before and educate citizens and public officials on the differences between hemp and marijuana."
About HempMeds® Mexico
HempMeds® Mexico is a Mexico-based company that made history by being the first company to receive a COFEPRIS federal government import permit for the cannabis product RSHO-X™ for a medical indication. HempMeds® Mexico plans to work directly with the Mexican government to safely and legally provide access to CBD hemp oil products. For more information, please review the company's website at http://www.hempmeds.mx.
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 Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
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SOURCE Medical Marijuana, Inc.