SAN DIEGO, May 8, 2017 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that its subsidiary, Kannaway®, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has increased its revenue elevenfold from March 2016 to April 2017.
Executive management has been instrumental in driving the Company's tremendous growth through April 2017. Blake Schroeder took the helm of Kannaway® as CEO in March 2016, and President Brad Tayles joined the Kannaway® family in August 2015. From March 2016 through April 2017, the Company increased its active distributor base by 341%, grew the Company's active customer base by 500%, and ultimately increased overall revenue by 1100% (or 11 times the improvement in overall sales / revenues from March 2016).
"We are very excited about the growth Kannaway® is having and the success our customers and brand ambassadors are having both health wise and financially," Schroeder said. "We are changing people's lives and helping families at the same time. We look forward to an incredible 2017."
Kannaway® continues to bring new innovative products to market, further expanding its line of premium lifestyle products. Recently released products include Premium Hemp Oil Caps, Gold Premium Hemp Oil, Pure CBD Premium Capsules, Kannaway Pure CBD, Premium Hemp Oil Oral Applicator, and the Kannaway Salve Travel. Kannaway will launch an additional new line of products at its upcoming Ignite event taking place in Phoenix, Ariz. on May 19-20.
In addition, Kannaway® increased its representative support staff and created a Spanish-speaking division to support its expansion in Latin America. Kannaway® also continues to host monthly Red Carpet events in cities nationwide, allowing the public to network with top Kannaway® leaders, the company's executive team, and fellow Kannaway® business owners.
Recognizing that the success of Kannaway® brand ambassadors is a key part of the Company's mission, the Company has initiated several programs to recognize top performers that include special trip and prize giveaways and a first of its kind stock incentive program.
For more information on Kannaway®, click HERE to visit the Company website.
About Kannaway, LLC
Kannaway, LLC is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.
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 details on Medical Marijuana, Inc.'s portfolio and investment companies, visit 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.
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.