Medical Marijuana, Inc. Subsidiary Kannaway® Begins Building South Africa Operations; Hires Duduzile Mathole as Country Manager

Rhea-AI Summary

Medical Marijuana, Inc. (MJNA) announced that its subsidiary, Kannaway®, has expanded operations into South Africa by appointing Duduzile Mathole as Country Manager. This expansion comes as South Africa's CBD market, valued at approximately $1.9 billion, continues to grow since the country de-scheduled CBD in 2020. Mathole's extensive experience in direct selling and knowledge of regional cannabis regulations are expected to aid in establishing and growing the company's presence in the region.

Positive

• Expansion into South Africa capitalizing on a $1.9 billion CBD market.
• Appointment of Duduzile Mathole as Country Manager brings local expertise.
• Potential to create over 25,000 jobs in the local economy.

Negative

• None.

SAN DIEGO, CA, Nov. 22, 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 Kannaway® has initiated efforts to expand its operations to South Africa and has hired Duduzile Mathole as Country Manager, South Africa.

The cannabidiol (CBD) market in South Africa has seen tremendous growth over the past year as South Africa de-scheduled CBD and made it possible for citizens to buy CBD products without a prescription in 2020. Recent reports from the Department of Agriculture, Land Reform, and Rural Development state that South Africa’s CBD market is currently valued at around 1.9 billion USD and could create more than 25,000 jobs.

Duduzile Mathole brings many years of direct selling experience to the Kannaway® team. Mathole is also well-versed in local and regional regulations regarding the cannabis industry throughout South Africa and the continent as a whole.

“I am confident that Duduzile will be a great addition to our team and is more than capable of helping us establish and grow our operations in South Africa and throughout the region,” said Kannaway® CEO Blake Schroeder. “We’ve found great success as a Company thus far because of our talented, dedicated team around the world and I know that Duduzile will be a great addition to our team. When I joined the Company in 2016, I could have never imagined the significant international expansion that we’ve achieved and I’m excited about the many new regions we plan to enter in the coming years.”

“It’s an honor to join the Kannaway team and be a part of the larger mission to bring the world free access to the highest-quality cannabis products and cannabis education,” said Duduzile Mathole, Kannaway® Country Manager, South Africa. “Together, we can help keep people who want to use cannabis products safely and bolster the local economy with new business opportunities.”

To learn more about Kannaway®, please visit https://kannaway.com/. 

About Kannaway®
Kannaway® is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway® currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity 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
PR 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 is the significance of Medical Marijuana, Inc.'s expansion into South Africa?

The expansion allows Medical Marijuana, Inc. to enter a rapidly growing $1.9 billion CBD market in South Africa, potentially increasing its revenue and market share in the region.

Who is Duduzile Mathole and what role will she play at Medical Marijuana, Inc.?

Duduzile Mathole is appointed as the Country Manager for South Africa, bringing extensive experience in direct selling and knowledge of local cannabis regulations to aid in expanding Kannaway®'s operations.

What impact is expected from the appointment of a Country Manager in South Africa?

The appointment is expected to facilitate the establishment and growth of operations in South Africa, leveraging Mathole's expertise to navigate local regulations and market dynamics.

How is the CBD market in South Africa performing?

The CBD market in South Africa is valued at approximately $1.9 billion and has shown significant growth since the de-scheduling of CBD in 2020, creating numerous business opportunities.