Medical Marijuana, Inc. Subsidiary Kannaway® Achieves Largest Revenue Month in Company History for Japan Division in May 2022

Rhea-AI Summary

Medical Marijuana, Inc. (MJNA) announced that its subsidiary, Kannaway®, achieved its largest revenue month in Japan’s history in May 2022. This milestone reflects the strong growth of the CBD market in Japan, projected to reach $1.9 billion by 2024, with a yearly growth rate of nearly 100%. CEO Blake Schroeder expressed confidence in the sustainable demand for CBD products in Japan, attributing it to consistent monthly sales increases. Kannaway® specializes in hemp-based products and actively engages in online sales and marketing efforts.

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• Achieved largest revenue month in Japan's history for Kannaway®.
• Japan's CBD market is projected to grow to $1.9 billion by 2024.
• Monthly sales have increased every month in 2022, reflecting strong demand.

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• None.

SAN DIEGO, CA, June 14, 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 in May its subsidiary Kannaway® has achieved its largest revenue month in the company’s history for its Japan division.

According to one of the most recent industry reports, Japan’s CBD market is projected to become the second-largest CBD market in Asia, growing to about $1.9 billion USD by 2024.

“We are proud of our team in Japan for this accomplishment. Kannaway has increased sales every month so far this year, each month setting a new high mark for the company,” said Medical Marijuana, Inc. CEO Blake Schroeder. “We are confident that the demand for CBD products in Japan will continue to expand as the Japan CBD market is currently seeing a yearly growth rate of nearly 100% YOY.”

To learn more about Kannaway®, please visit the Company online at https://www.kannaway.com/

About Kannaway®

Kannaway® is a network sales and marketing company specializing in the sale and marketing of hemp-based botanical products. Kannaway® currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunities 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®. 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. 858-221-8001
kathryn@cmwmedia.com
www.cmwmedia.com

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

FAQ

What revenue milestone did Medical Marijuana, Inc. (MJNA) recently achieve in Japan?

Medical Marijuana, Inc. announced that its subsidiary, Kannaway®, achieved its largest revenue month in Japan's history in May 2022.

What is the projected size of Japan's CBD market by 2024?

Japan's CBD market is projected to reach approximately $1.9 billion by 2024.

What growth rate is the Japan CBD market experiencing?

The Japan CBD market is currently experiencing a yearly growth rate of nearly 100%.

How have Kannaway's sales performed in 2022?

Kannaway® has increased sales every month so far in 2022, setting new high marks each month.