Medical Marijuana, Inc. Subsidiary HempMeds® Applauds Mexico’s Supreme Court for Decriminalizing Cannabis
Medical Marijuana, Inc. (MJNA) announced a significant ruling by Mexico’s Supreme Court that declared laws criminalizing recreational cannabis unconstitutional. This decision is expected to benefit the cannabis industry, allowing easier access for Mexican citizens to obtain cannabis-derived products. HempMeds®, a subsidiary of MJNA, expressed optimism about future business growth opportunities in Mexico, highlighting the importance of continued legal reforms. The ruling marks a progressive step towards establishing a regulated cannabis market in Mexico, which could enhance MJNA's operations.
- Supreme Court ruling deemed cannabis laws unconstitutional, benefiting the cannabis industry.
- HempMeds® is positioned for expanded business opportunities in Mexico.
- Increased public support for cannabis legalization could drive market growth.
- Ongoing need for legislative reforms to secure legal frameworks for cannabis consumption.
- Uncertainty remains regarding full legalization of cannabis in Mexico.
SAN DIEGO, CA, July 01, 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 its subsidiary HempMeds® applauds Mexico’s Supreme Court for its decision to deem a set of laws which criminalized the recreational adult use of cannabis in Mexico unconstitutional, and reopen the legal debate for the entire cannabis industry in the country.
“As the first company granted importation permits for cannabis-derived products in Mexico, we are glad that Mexico is continuing to take steps forward in becoming a leader in the global cannabis industry,” said HempMeds® CEO Raúl Elizalde. “We hope that soon there will be more opportunities to grow our business in the country and help people enjoy the benefits of cannabis-derived products. That said, this declaration of unconstitutionality is not the end of the road, and Mexican legislators must continue to reform the current legal framework to give legal certainty to people who wish to consume cannabis or derived products.”
The Supreme Court has been one of the main engines working toward establishing the Mexican cannabis industry. Since 2017, this regulatory body has issued court rulings that have allowed for thousands of patients to have legal access to cannabis-derived products and legal protection to consume without repercussions. This new Supreme Court ruling stated that sections of the country’s general health law prohibiting personal consumption and home cultivation of marijuana are unconstitutional. Mexican citizens can now obtain a permit from Mexico’s national health regulator Cofepris more easily but the industry is still pushing for full legalization of cannabis and a bill that distinguishes marijuana from hemp.
“Now more than ever, the public is in favor of cannabis legalization in both Mexico and the US. This recent legislation allows for the expanded access to medical cannabis throughout Mexico, and we hope that regulators utilize this momentum to make even bigger moves to make cannabidiol (CBD) and other cannabis-derived products available to all,” added Medical Marijuana, Inc. CEO Blake Schroeder.
About HempMeds®
Founded in 2012, HempMeds® was the first company to bring hemp-based cannabidiol (CBD) oil products to market in the U.S. As a subsidiary of Medical Marijuana, Inc., HempMeds is the exclusive distributor for premium brands including Real Scientific Hemp Oil™ and Dixie Botanicals®, and operates in all 50 states and 40 countries. HempMeds® is the only company to have its CBD products listed in the Prescribers’ Digital Reference (PDR), the only company invited to speak to the World Health Organization and FDA on the benefits of CBD, and one of the first to be certified by the U.S. Hemp Authority. To learn more, please visit www.hempmedspx.com.
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.
Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.’s shop.
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
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