Medical Marijuana, Inc. International Subsidiaries Achieve Best Revenue Month Ever in July 2021

Rhea-AI Summary

Medical Marijuana, Inc. (OTC: MJNA) announced record revenues for its subsidiaries HempMeds® Mexico and Kannaway® Japan in July 2021, marking their largest revenue months in history. The company's overall revenue also reached its highest since November 2020. CEO Blake Schroeder emphasized the company's ongoing commitment to success in the CBD and hemp industries, aiming to establish itself as a leading global cannabis company. According to Grand View Research, the global CBD market is projected to grow at a CAGR of 21.2%, reaching $13.4 billion by 2028.

Positive

• HempMeds® Mexico and Kannaway® Japan achieved their largest revenue months in July 2021.
• Overall revenue for Medical Marijuana, Inc. in July 2021 was the highest since November 2020.
• The global CBD market is projected to grow at a CAGR of 21.2% to reach $13.4 billion by 2028.

Negative

• None.

SAN DIEGO, CA, Aug. 10, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that the Company’s subsidiaries HempMeds® Mexico and Kannaway® Japan, as well as Medical Marijuana, Inc.’s third-party manufacturing and distribution business, each achieved their largest revenue months in their respective histories in July 2021. Medical Marijuana, Inc. as a whole had its largest revenue month in July since November 2020. 

“Success is earned not acquired and I can confidently say that our teams around the globe have been working harder than ever this year to achieve financial and operational success milestones for the company,” said Medical Marijuana, Inc. CEO Blake Schroeder. “For more than a decade, Medical Marijuana, Inc. has been a pioneer and top-player in the cannabidiol (CBD) and hemp industries and our recent accomplishments are a testament to the fact that we have no intention of giving up on that reputation. We will become the first truly global cannabis company and we are thankful for our customers for helping us every step along the way.”

Data leader Grand View Research recently reported that the CBD market saw positive growth trends around the world in 2020 with legal cannabis sales totaling $2.8 billion. Projections from Grand View also show that the global CBD market is expected to grow at a compound annual growth rate of 21.2% from 2021 to 2028 to reach $13.4 billion by 2028. 

About Medical Marijuana, Inc.

We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company's flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.

Medical Marijuana, Inc.'s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.'s corporate video, click here.

FORWARD-LOOKING DISCLAIMER

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 Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.

LEGAL DISCLOSURE

Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.

CONTACT:

Public Relations Contact:
Kathryn Brown
Account Director
CMW Media
P. 858-264-6600
kathryn@cmwmedia.com
www.cmwmedia.com 

Investor Relations Contact:
P. (858) 283-4016
Investors@medicalmarijuanainc.com 

 

FAQ

What recent revenue milestones did Medical Marijuana, Inc. (MJNA) achieve?

Medical Marijuana, Inc.'s subsidiaries HempMeds® Mexico and Kannaway® Japan achieved their largest revenue months in July 2021, and the company overall reached its largest revenue since November 2020.

What are the growth projections for the CBD market?

The global CBD market is expected to grow at a compound annual growth rate of 21.2%, reaching $13.4 billion by 2028.

Who is the CEO of Medical Marijuana, Inc. and what did he say about their achievements?

CEO Blake Schroeder highlighted the company's commitment to financial success and operational milestones in the CBD industry, emphasizing their intention to remain a top player.