MEDICAL MARIJUANA INC - MJNA STOCK NEWS

Medical Marijuana, Inc. (OTC: MJNA) has appointed Dr. Timothy R. Scott as its new CEO, succeeding Blake N. Schroeder, who resigned after serving since 2021. Dr. Scott, a board member since 2015, previously held an advisory role within the company. His leadership comes at a challenging time for the cannabis industry, marked by increasing competition and declining sales. The company plans to undergo significant restructuring to enhance operational efficiencies and cash flow. They aim to leverage their strong product portfolio and investments in biotechnology companies to position themselves for growth despite the market challenges.

Medical Marijuana, Inc. (MJNA) announced a new study involving its subsidiary HempMeds, focusing on the therapeutic potential of CBD for treating Parkinson's disease and traumatic brain injuries. Conducted with the Center for Research and Advanced Studies of Neurological Diseases, the study showed positive results for oral administration of RSHO CBD. Notably, it demonstrated a decrease in extracellular glutamate, linked to neuronal death, through a significant reduction in mortality and improvement in sensorimotor functions in an animal model. The study adds to existing research validating the benefits of plant-derived CBD, furthering the company's commitment to cannabis-based therapies.

Medical Marijuana, Inc. (OTC: MJNA) announced the launch of two competitively priced full spectrum CBD products in Brazil through its subsidiary HempMeds® Brasil. The new offerings, available in concentrations of 3,000mg to 6,000mg, come in jars of 30 and 60mL, targeting the growing Brazilian market and presenting significant cost savings. Since obtaining the first permits to import hemp-derived CBD oil, HempMeds has reported a 50% annual growth since 2014, securing a leading position in Brazil's CBD market, which is now well-regulated. The company aims to expand distribution through pharmacies, enhancing accessibility for patients.

Medical Marijuana, Inc. (OTC: MJNA) has announced the appointment of industry veterans Mike Randolph and Mike Kolinski to leadership positions within its subsidiary, Kannaway. Randolph, with 31 years of experience, will oversee communications, customer service, and compliance, while Kolinski, a 25-year IT veteran, will manage web and back-office systems focusing on sales. This move aims to enhance Kannaway's global operations amidst ongoing international expansion, emphasizing clarity in its communications and processes to drive positive change in the cannabis industry.

Medical Marijuana, Inc. (MJNA) reported its Q3 2022 financial results, achieving $4.9 million in net revenue and a gross profit of $4 million, marking an 82% gross margin. The company highlighted growth in international operations, particularly in Europe, and notable progress in its pharmaceutical initiatives in South America. CEO Blake Schroeder expressed optimism regarding international expansion and upcoming regulatory changes that could facilitate growth. The firm remains a pioneer in the cannabis-derived nutraceutical market, holding historic import permits for CBD in several South American countries.

Medical Marijuana, Inc. (OTC: MJNA) announced a study conducted by its subsidiary HempMeds® Mexico in collaboration with experts from the Autonomous University of Puebla and the Autonomous University of Barcelona. The research aimed to explore the therapeutic benefits of CBD for Parkinson's Disease. Results indicated that CBD significantly improved motor performance in parkinsonian mice. The study utilized HempMeds® flagship product, RSHO-X 5,000, and has been published in Frontiers in Pharmacology. Medical Marijuana, Inc. continues to lead the global CBD market with successful clinical trials in Mexico and Brazil.

Medical Marijuana, Inc. (MJNA) announced an Asset Purchase Agreement with MFINITY Global LLC, a direct-selling company focused on natural health products. Bill Andreoli, President of MFINITY, will lead MJNA's subsidiary, Kannaway, LLC. The acquisition aims to enhance Kannaway's product offerings, featuring the Muscadine antioxidant product line, now available for sale through Kannaway's distribution channels. This strategic move aligns with MJNA's expansion through acquisitions and positions the company for growth with Andreoli's extensive experience in integrating brands.