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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) reported robust financial results for FY 2021, generating $34.1 million in net revenue and a gross profit of $26.9 million with a 78% margin. By year-end, the company's cash balance was $5.4 million. The firm made significant strides internationally, establishing operations in South Africa and Hong Kong, and achieving sales growth in Japan, Brazil, and Mexico. Additionally, the company enhanced its executive team and expanded its advocacy for cannabis product access globally.
Medical Marijuana, Inc. (OTC: MJNA) has issued a letter to shareholders discussing its recent financial and operational results, emphasizing its growth and international expansion. The new CEO, Blake Schroeder, highlighted significant progress in establishing global operations and product innovations. The company is positioned to capitalize on cannabis market opportunities in regions like Latin America and Asia, while also focusing on debt elimination and operational efficiencies. Additionally, Medical Marijuana, Inc. continues to invest in pharmaceutical developments through its subsidiaries.
Medical Marijuana, Inc. (OTC: MJNA) has announced the retirement of over $10 million in principal debt, improving its balance sheet significantly. As of February 28, 2022, two promissory notes totaling $10,184,598 have been satisfied, leaving only one on the debt schedule. CEO Blake Schroeder emphasized that eliminating these convertible notes reduces stock price pressure and market volatility. The company continues to expand internationally, achieving record revenue months in Japan, Mexico, and Brazil, further supporting growth and shareholder value.
Medical Marijuana, Inc. (MJNA) announced that its subsidiary, Kannaway®, will host a Europe Regional Event in Prague on March 5-6, 2022. This event aims to foster networking among Brand Ambassadors and the company’s leadership. A highlight will be the launch of a new cannabidiol (CBD) product that contains 1% THC, compliant with Czech regulations. The European Cannabidiol Market is projected to grow at a CAGR of 21.26%, reaching USD 8.96 billion by 2026, indicating significant market potential for Kannaway®.
Medical Marijuana (OTC: MJNA) has announced its subsidiary, HempMeds® Brasil, will sponsor the Brazilian Society of Obesity Medicine’s inaugural Obesity Medicine Symposium from March 3-6, 2022. This event aims to educate medical professionals and the public about the wellness benefits of cannabidiol (CBD). HempMeds® Brasil is noted for its regulatory achievements in Brazil, being the first to import cannabidiol products. The company reports significant operational and revenue growth in Brazil, supported by strategic partnerships with local health experts.
Medical Marijuana, Inc. (OTC: MJNA) announced the promotion of Todd Morrow to President from Chief Financial and Information Officer. Morrow, who joined the company in 2018, has extensive experience in merchandising and marketing, previously holding significant roles at other companies.
As President, Morrow aims to enhance the company's global operations amidst growing cannabis industry legislation. CEO Blake Schroeder expressed confidence in Morrow's ability to lead and execute plans effectively, indicating a strategic focus on global expansion and innovation in cannabis products.
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.
Medical Marijuana, Inc. (OTC: MJNA) has announced the opening of a new distribution center in Hong Kong through its subsidiary, Kannaway®. This facility aims to streamline operations and enhance the availability of cannabidiol (CBD) products in the region. The center will significantly reduce shipping times and costs in Hong Kong and neighboring Asian countries, supporting the company's expansion strategy. Kannaway®'s executives emphasized the importance of this development in the APAC market, highlighting it as a template for future distribution hubs globally.
Medical Marijuana, Inc. (MJNA) announced the appointment of Jeanne Rawdin as the Global Communications Manager for its subsidiary Kannaway®. Rawdin brings a wealth of experience from her background in broadcast journalism and marketing. According to CEO Blake Schroeder, her expertise is expected to enhance the company's communications strategy, facilitating better engagement with customers globally. Rawdin expressed enthusiasm about her role, emphasizing the importance of crafting impactful messages about the company's products and wellness initiatives.
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