SAN DIEGO, Feb. 14, 2019 /PRNewswire/ -- Medical Marijuana, Inc. (MJNA), the first-ever publicly traded cannabis company in the United States, announced that its subsidiary Kannaway®, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has placed a significant initial purchase order ("PO") from major investment company AXIM® Biotechnologies (AXIM) ("AXIM"), a world leader in cannabinoid research and development, for its nutraceutical chewing gum product.
"Kannaway® is proud to partner with such a well-known and scientifically driven organization to bring our customers a superior and innovative product that provides them with a quick, pre-dosed way to promote overall wellness through the use of CBD," said Kannaway® CEO Blake Schroeder. "We plan to build a whole brand around the nutraceutical product and look forward to continuing our partnership in the future after a successful launch."
The product sold under this purchase order is the company's nutraceutical cannabinoid-based chewing gum containing 50 mg of full-spectrum hemp oil and 10 mg of CBD per piece. The product is made using AXIM's proprietary microencapsulation methodology and utilizes the company's patented chewing gum delivery system that allows the CBD to enter the bloodstream more quickly and efficiently through absorption through the buccal cavity, increasing the bioavailability of the CBD.
"We are excited to work with such a large and well-respected direct-selling company such as Kannaway® and to bring our nutraceutical chewing gum product to their worldwide audience," AXIM CEO John W. Huemoeller said. "This is our largest initial order from a singular customer to date and it presents a whole new revenue opportunity for the nutraceutical division of AXIM. Our flagship nutraceutical chewing gum product utilizes AXIM's patented chewing gum delivery system for cannabinoids that creates a high-quality and user-friendly experience that we are confident Kannaway® consumers will enjoy and be able to distribute through their networks successfully."
To learn more about Kannaway®, visit https://kannaway.com/.
To learn more about AXIM® Biotechnologies, Inc., visit http://aximbiotech.com/.
About AXIM® Biotechnologies
AXIM® Biotechnologies, Inc. (AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical products. Along with building a robust intellectual property portfolio, AXIM is focused on clinical development programs that bring more efficacy and/or lower side effects than existing alternatives and require small to medium budgets and timelines to bring to market which presents a high added-value to the pharmaceutical field.
AXIM's flagship products include MedChew® with Dronabinol, which will undergo a bioequivalence study to fast track through FDA as an alternative to approved Marinol; CanChew® RL, which will undergo clinical trials for treatment of restless leg syndrome. And MedChew Rx®, a combination cannabidiol (CBD)/tetrahydrocannabinol (THC) functional, controlled-release chewing gum that will undergo clinical trials for the treatment of pain and spasticity associated with Multiple Sclerosis (MS). For more information, please visit www.AXIMBiotech.com.
Kannaway® 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.
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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