SAN DIEGO, Jan. 9, 2019 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the Company and its subsidiaries Kannaway®, HempMeds® Mexico and HempMeds® Brasil generated the largest-ever (unaudited) revenue year in its history in 2018, as well as reached major milestones in its business operations.
"We are excited to have surpassed our growth and revenue goals for this year," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "By breaking our annual sales record (unaudited) and investing into our future expansion efforts, we can provide our shareholders with an optimistic forecast for our future success."
In 2018, Medical Marijuana, Inc. had a number of significant accomplishments, including:
- Experienced year-over-year sales bookings growth of more than 160% compared to 2017.
- Registered its cannabidiol (CBD) products in Paraguay as official medicines.
- Announced that it was named a Top 3 Hemp Producer of 2018.
- Released new Dixie Botanicals® Fruit-Flavored Energy Kicks and Gel Capsules.
- Its flagship product Real Scientific Hemp Oil™ was featured on Emmy® Award-Winning daytime talk show The Doctors.
- Garnered import permits from the Argentina's National Administration of Medicines, Food and Medical Technology (ANMAT) for the first-ever Tetrahydrocannabinol (THC)-free CBD product in Argentina.
- United with Peak Health Center to sell the first and only Humulus-derived CBD product, Real Scientific Humulus Oil (RSHO-K).
- Announced a new director of Canadian operations, Kenneth Smith.
- Revealed the company's first CBD vape cartridge and vape oil liquids through its distribution subsidiary Dixie Botanicals®.
- Launched Phyto Animal Health.
Medical Marijuana, Inc. subsidiary Kannaway® was the first direct sales company to offer phyto-cannabinoid botanical products to consumers. A family-oriented company, Kannaway® encourages its brand ambassadors to create their own successful distribution businesses that will positively benefit the wellbeing of the people around them.
In 2018, Kannaway® had a number of significant accomplishments including:
- Experienced year-over-year sales bookings of more than 250% compared to 2017.
- Hosted several successful regional and national events.
- Held its largest-ever event in Prague, the European Grand Opening, to launch its newest international operations.
- Recognized its first Brand Ambassadors to achieve Crown Ambassador Elite rank.
- Launched a new powder protein shake, single-serving size sample packs and hemp pet products including CBD tinctures and chew toys.
- Announced a partnership with several athletes including Christian Okoye, Goose Gossage and Amy Van Dyken.
- Hosted a European tour that spanned six cities including Copenhagen, Denmark; Oslo, Norway; Wroclaw, Poland; Bratislava, Slovakia; Linz, Austria and Regensburg, Germany.
- Unveiled the Kannaway® Connect App to help Brand Ambassadors communicate with each other and grow their businesses.
HempMeds® is one of Medical Marijuana Inc.'s subsidiaries that manufactures and distributes CBD products online directly to consumers. The company manufactures health and beauty CBD products in liquid, topical and sublingual delivery methods. The company also sells a cannabis skincare line, edibles and CBD for companion animals.
In 2018, HempMeds® had a number of significant accomplishments, including:
- Experienced year-over-year sales bookings growth of nearly 20% compared to 2017.
- Established a partnership with UFC fighter Liz Carmouche.
- Launched a new topical product, HempMeds® Active Relief Roll-On in both 10 mg and 50 mg concentrations.
- Hired Todd Morrow as the subsidiary's President.
- Had its new Active Relief Roll-On product and Real Scientific Hemp Oil Gold Liquid featured in Men's Health Magazine.
- Secured a distribution partner in Bermuda.
Phyto Animal Health is Medical Marijuana Inc.'s subsidiary that manufactures and distributes CBD products for a variety of companion animals such as dogs, cats and horses. As a company that cares about the health and wellbeing of all animals, it also cares about the earth. Using the least amount of water and other resources to create its products, the company aims to leave the smallest footprint possible while helping provide cats, dogs and horses with the nutrients they need to have outstanding mental and physical health.
In 2018, Phyto Animal Health had a number of significant accomplishments including:
- Launched in the U.S. and began selling online and in select retail locations.
- Announced its Expert Veterinary Advisory Board.
- Named Ian Quinn as Chief Executive Officer.
- Participated in many nationally recognized cannabis and veterinary conferences.
- Held several Q&A events at pet stores throughout California.
- Launched several new products such as a veterinarian-exclusive CBD concentrate, CBD dog treats and a variety of liquid tinctures to meet the needs of pets of all shapes and sizes.
- Signed an agreement with national distributor Mr. Checkout to distribute its line of CBD hemp oil pet products to thousands of members of the Independent Pet Retailer Association.
HempMeds® Mexico is Medical Marijuana, Inc.'s distribution branch in the country, focusing on providing non-psychoactive CBD products to the people of Mexico. HempMeds® Mexico was the first company to have a medical cannabis product approved for import into Mexico.
In 2018, HempMeds® Mexico had a number of significant accomplishments including:
- Experienced year-over-year sales bookings growth of nearly 40% compared to 2017.
- The Mexican Federal Commission for Protection Against Sanitary Risks (COFEPRIS) granted the company with the first five new permits to sell its CBD products in Mexico without prescription.
- Became the first company to sell a registered topical CBD product in Mexico.
- Announced the promotion of HempMeds® Mexico President Raul Elizalde to HempMeds® President, Latin America.
- Sponsored several medical events in Mexico and throughout Latin America to spread education on the use of cannabidiol.
Another Latin American subsidiary of Medical Marijuana, Inc., HempMeds® Brasil, is the distribution partner in this country. Medical Marijuana, Inc.'s flagship product, Real Scientific Hemp Oil™(RSHO™) was the first cannabis product to be approved for import by Brazil's federal government and used as a prescription for approved medical indications within Brazil.
In 2018, HempMeds® Brasil had a number of significant accomplishments including:
- Experienced year-over-year sales bookings growth of more than 30% compared to 2017.
- Opened a new office in São Paulo featuring a doctor's office, a clinic, an office space for the HempMeds® Brasil staff, a classroom for educational seminars, and a lounge area to promote institutional events.
- Hosted the first-ever hospital cannabis events on the benefits of CBD with the National Association of Cannabidiol Users (ANUC).
- Provided product to the Lutheran University of Brazil for a research study using CBD for a number of specific conditions.
- Hosted a cannabis symposium for Brazilian doctors at the Medical Marijuana, Inc. offices in San Diego.
- Sponsored the International Medicinal Cannabis Seminar in Brazil.
- Added Norberto Fischer as company spokesperson.
- Hosted the Third Meeting of Former Residents of Neurology at John Paul II Children's Hospital in Belo Horizonte, Minas Gerais, Brazil.
- Released a full-spectrum 5,000 mg CBD hemp oil.
- Became the premier sponsor of the Cannx Brazil Conference.
"The Company and its subsidiaries have worked very hard to further international access to CBD and create the highest quality products on the market," said Medical Marijuana, Inc. COO Blake Schroeder. "Our expansion into Europe and Latin America in 2018 will move our Company and its unique vision forward in 2019."
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.
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