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Medical Marijuana Inc. (MJNA) is a leading cannabis company focused on research, development, and distribution of CBD products. With a wide range of offerings including oils, capsules, and topicals, the company has established itself as a pioneer in the industry. MJNA's partnerships with top researchers and commitment to quality have solidified its position as a trusted source for CBD products.
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.
Medical Marijuana, Inc. (OTC: MJNA) released its financial results for Q2 2022, reporting $7.8 million in net revenue and a gross profit of $6 million, with gross margins at 76%, marking a significant increase year-over-year. The company is focusing on international expansion and pharmaceutical initiatives, particularly in Brazil, anticipating product availability in pharmacies by late 2022 or early 2023. Additionally, ongoing clinical research funded by the NIH is being conducted on neuropathic pain treatments.
Medical Marijuana, Inc. (OTC: MJNA) announced that its pharmaceutical subsidiary, HM Pharma, has submitted a product dossier for its cannabidiol (CBD) products after receiving Sanitary Authorization from ANVISA, Brazil’s Health Regulatory Agency. This authorization allows HM Pharma to import and distribute cannabis products in Brazil's pharmacies. The company's subsidiary, HempMeds® Brasil, continues to thrive and is growing 75% faster than the overall Brazilian CBD market. CEO Blake Schroeder expressed optimism about expanding into the pharmaceutical market, signaling potential growth opportunities for MJNA.
On July 26, 2022, Medical Marijuana, Inc. (MJNA) announced that CEO Blake Schroeder published an article in Nasdaq News discussing the future of federal cannabis legalization in the U.S. The article highlights opportunities within the non-psychoactive CBD market, suggesting it can pave the way for psychoactive THC products once legalized. Schroeder emphasizes the significance of international product pipelines for accessing new markets. He expressed confidence in the company's preparedness to leverage its infrastructure when federal laws change.
Medical Marijuana, Inc. (OTC: MJNA) announced the launch of a new podcast, PodioCast, by its subsidiary HempMeds® Brasil, aimed at promoting CBD and cannabis education. Hosted by industry professionals, the podcast features interviews with athletes and medical experts addressing wellness challenges. The initiative follows the World Anti-Doping Agency's removal of CBD from banned substances, leading to increased CBD usage among Brazilian athletes. HempMeds® Brasil, the first approved CBD importer in Brazil, continues to focus on education and expanding product approvals for various medical conditions.
Medical Marijuana, Inc. (OTC: MJNA) announced that its subsidiary, Kannaway®, achieved its largest revenue month in June 2022 for its Japan division, reflecting robust growth since its establishment in 2019. The Japanese CBD market is projected to reach approximately $1.9 billion USD by 2024. CEO Blake Schroeder noted an increase in sales every month this year and potential easing of regulations on CBD sales, which could further enhance market opportunities.
Medical Marijuana, Inc. (OTC: MJNA) announced that its subsidiary, HempMeds®, is partnering with Hospital del Cruce in Argentina to research the efficacy of CBD for treating epilepsy in adults. The study, authorized by Argentina's Ministry of Health, will utilize HempMeds®’ hemp-derived RSHO-X 5,000mg CBD products. Dr. Silvia Kochen leads this initiative, aiming to enhance scientific understanding of CBD's therapeutic benefits in Latin America. CEO Blake Schroeder emphasized the collaboration's potential to broaden access to cannabis-based treatments worldwide.
Medical Marijuana, Inc. (MJNA) announced that its subsidiary, Kannaway®, will host a South Africa Regional Conference on July 2, 2022, in Cape Town. CEO Blake Schroeder highlighted the potential of the South African CBD market, projected to reach $7 billion by 2023. The event aims to educate entrepreneurs about opportunities in the cannabis industry, featuring key industry figures, including Dr. Stuart Titus and local leaders. It emphasizes Kannaway's commitment to CBD market leadership in South Africa amidst growing consumer awareness and demand.
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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