Medical Marijuana, Inc. Subsidiary Kannaway® Opens New Office and Warehouse in Johannesburg, South Africa

Rhea-AI Summary

Medical Marijuana, Inc. (OTC: MJNA) announced that its subsidiary, Kannaway®, has opened a new 3,326 square foot office and warehouse in South Africa, aimed at enhancing its distribution capabilities. This strategic move aligns with the company's goal of expanding its footprint in international markets, particularly in the rapidly growing South African CBD market, currently valued at approximately $1.9 billion. The new facility will help reduce operating costs and improve customer access, supporting Kannaway's vision for further expansion across Africa.

Positive

• New office and warehouse in South Africa enhances distribution capabilities.
• Positioned in a rapidly growing CBD market valued at approximately $1.9 billion.
• Strategic focus on international expansion to offer a wider customer reach.

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• None.

SAN DIEGO, Feb. 01, 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 opened a new office and warehouse in South Africa.

The new 3,326 square foot combined facility is positioned just east of Johannesburg, making it convenient for employees and visitors to access. The facility allows Kannaway® to ship the company’s full line of products throughout the country. 

“Our strategic decision to make South Africa a large focus for the Company’s international growth this year comes with big ideas and even bigger execution,” said Kannaway® CEO Blake Schroeder. “This new warehouse will allow us to reach more customers in the region and reduce our operating costs.”

Recent reports from the Department of Agriculture, Land Reform, and Rural Development state that South Africa’s cannabidiol (CBD) market is currently valued at around $1.9 billion and could create more than 25,000 jobs.

“This new office and warehouse is just our first step to greater expansion throughout Africa,” said Duduzile Mathole, Kannaway® Country Manager, South Africa.

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 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
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 new development did Medical Marijuana, Inc. announce on February 1, 2022?

Medical Marijuana, Inc. announced the opening of a new office and warehouse for its subsidiary Kannaway® in South Africa.

How large is the new Kannaway® facility in South Africa?

The new Kannaway® facility in South Africa is 3,326 square feet.

What is the estimated value of the CBD market in South Africa?

The CBD market in South Africa is currently valued at approximately $1.9 billion.

What benefits does the new warehouse provide for Kannaway®?

The new warehouse will allow Kannaway® to reach more customers in the region and reduce operating costs.