Company Has Exclusive Rights for Sales and Marketing of Over Twenty Hemp-Based Consumer Products
SAN DIEGO, CA, July 31, 2013 - (eTeligis via ACCESSWIRE)- Medical Marijuana Inc. (OTC Pink: MJNA) is pleased to announce that their subsidiary company, Canipa Holdings (www.canipaholdings.com/), has signed an exclusive worldwide distribution and marketing agreement with a prominent European-based pharmaceutical/ nutraceutical/cosmetics company. Canipa Holdings will manage the marketing and distribution of the European company's portfolio of over twenty hemp-based consumer products. The products will be added to the HempMedsPX platform.
"Some of the products Canipa Holdings will be marketing and selling are approved for specific medical claims in parts of the European market," says Charles Vest, Director of Communications for HempMedsPX, the marketing company for Medical Marijuana Inc. and all MJNA subsidiary companies. "We want to make clear, however, that these products will be marketed as consumer-only in the United States and its territories."
In the largest transaction that the company has signed to date, Canipa Holdings has also acquired the exclusive online marketing and sales rights for this new portfolio of hemp-based products (excluding The Middle East, Poland, Czech Republic, Hungary, Slovakia, and Latvia). Finally, Canipa Holdings will be the exclusive retail store/brick-and-mortar distributor for these new hemp-based products in all United States and territories as well as Canada and Mexico. The company will seek to negotiate additional territories as markets become viable.
"Nothing like these products exist today," continues Vest. "The European Union (EU), through the European Medicines Agency, is already well aware of the potential health and wellness applications for hemp-based products, evidenced by the fact that this new product portfolio that Canipa has acquired is marketed for specific ailments in parts of the EU."
"This acquisition was in the works long before Canipa's inception, and it today demonstrates HempMedsPX's and MJNA's abilities to source and develop the right brands to add to its ever growing family of products. We look forward to bringing these amazing products to a store near youand onlinein the not-too-distant future."
The acquired contract of products are currently sold in over 2,000 pharmacies and over 1,000 retail stores in Europe. Canipa Holdings will be making a product offering announcement shortly as it integrates the brands packaging and web presents to meet the US, Canada and Mexico's regulatory requirements.
According to the US government, every product derived from cannabis is categorized as marijuana including hemp. We, therefore, use the word "marijuana" as an all-encompassing term to cover cannabis, medical marijuana, marijuana and hemp. We believe that "cannabis" should be the standard term used for all medical products; as the industry matures, we will be phasing out the words "medical marijuana" and "marijuana" from the company's vocabulary.
Canipa Holdings was formed to assist Medical Marijuana Inc.'s (OTC Pink: MJNA) expansion efforts in Europe, the Middle East and Asia. Canipa Holdings focuses its efforts on obtaining product and marketing approvals as well as distribution partners for the entire line of Medical Marijuana Inc.'s portfolio of products. For more information, please visit the company's website: www.canipaholdings.com/
HempMedsPX is the master distributor and contracted marketing company for the CannaVest Corp. and Medical Marijuana, Inc. (OTC Pink: MJNA) portfolio of products, including their revolutionary hemp-based CBD products. HempMedsPX offers mainstream marketing, sales, customer service, and logistics for the cannabis industry. In addition to handling sales and distribution, HempMedsPX is the communication hub for the Medical Marijuana Inc. portfolio of companies.
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.
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.
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.
Medical Marijuana, Inc., and HempMedsPX do 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 Federally Legal Distribution of Medical Marijuana based products within certain international markets.
For further information, please contact:
Investor relations contact:
Stuart T. Smith
Medical Marijuana, Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)
SOURCE: Medical Marijuana, Inc.