Medical Marijuana, Inc. Signs Deal With Leading European Manufacturer and Distributor to Expand Channel Access to Products Throughout the Region
Medical Marijuana, Inc. (OTC: MJNA) announced an expansion of its European supply chain through a distribution agreement between its subsidiary, Kannaway, and Complete Hemp Technologies (CHT). This agreement enhances CHT's existing services by adding warehousing and operational capabilities, leading to cost savings and improved gross margins in Europe, a key international market for the company. CEO Blake Schroeder emphasized the long-standing partnership and the benefits it brings to both companies as they leverage their strengths in the hemp-based product space.
- Expansion of distribution capabilities in Europe through partnership with Complete Hemp Technologies.
- Cost savings and improved gross margins anticipated from the agreement.
- Long-standing relationships with European regulators and industry players enhancing market entry.
- None.
Global Cannabis Company Expands Supply Chain in Europe through Agreement with Complete Hemp Technologies
SAN DIEGO, CA, Sept. 08, 2022 (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 its subsidiary, Kannaway, has signed a distribution agreement with long-time partner Complete Hemp Technologies (CHT) to expand its capabilities in the European market. The agreement adds warehousing and daily operations to the services that CHT already provides to Kannaway in Europe, providing cost-savings and gross margins improvements in one of the Company’s largest international markets.
The Company has worked with CHT for years to facilitate expansion throughout Europe, leveraging their strong relationships with regulators and industry leading cannabis based product capabilities. CHT will also now provide distribution services eliminating the need to transport product after manufacture as well as fund additional warehouse space and associated labor costs.
“As the first US company to enter Europe with our hemp-based products, we have built long-standing relationships with the region’s most knowledgeable companies and this agreement is a perfect example of that,” said Medical Marijuana, Inc. CEO Blake Schroeder. “It is a win-win for both companies. We will continue to leverage our superior product formulations and brand equity as the original trusted source for quality products, while being supported by a reputable company with a proven track record of success.”
“We are happy to continue to work with Medical Marijuana, Inc. and its family of companies,” said Rafal Modlinski, CEO of Complete Hemp Technologies. “Their dedication to creating quality products and distributing them on a global basis fully aligns with our vision here at CHT. Through this agreement we will be able to expand both our reach and the reach of Medical Marijuana, Inc. and Kannaway products.”
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:
Kyle Porter
CEO
CMW Media
P. 858-221-8001
mjna@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
P. (858) 283-4016
Investors@medicalmarijuanainc.com
FAQ
What recent agreement did Medical Marijuana, Inc. (MJNA) announce regarding its European operations?
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