SAN DIEGO, CA--(Marketwired - December 13, 2016) - Medical Marijuana, Inc. (OTC PINK: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the Company, its products and investments were featured in a Forbes article focused on the current cannabidiol (CBD) market size and anticipated massive growth.
The Dec. 12, 2016, article entitled "The Cannabis Market That Could Grow 700% by 2020" states, "The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources." Those figures cited would total a 700% increase from 2016.
The article continues: "Medical Marijuana, Inc. said that there were $65 million in hemp-based CBD sales in 2015 and that they are the current market leader with over $800,000 in retail CBD sales per month. Their CBD sales have grown from $3.4 [million] in 2013 and are expected to be $9 million in 2016."
"When Medical Marijuana, Inc. launched the first-ever hemp-based CBD products, the Company knew that we were creating an intriguing product category that could potentially help millions of people to higher levels of overall health and wellness. We're grateful to Forbes for covering our industry," said Chief Executive Officer of Medical Marijuana, Inc. Dr. Stuart Titus. "However, not everyone predicted a $65 million industry within two years and a projected $450 million industry within seven years. That has meant jobs and livelihood for thousands of people around the world."
"Further, the black market for cannabis (THC) products has been developing for the past 50 years and today reaches $120 billion in the US and $240 billion worldwide. We continue to believe that when similarly developed, the CBD marketplace will approach 50% of these figures, so $60 billion in the US and $120 billion worldwide."
The Forbes article also discusses many of Medical Marijuana, Inc.'s subsidiary companies including Kannaway and their line of Revive products like Revive Pro-X, a hemp oil supplement containing no tetrahydrocannabinol (THC), that is made for customers like athletes who need to avoid products with THC.
Further, the article also discussed Medical Marijuana, Inc. investment AXIM® Biotechnologies, Inc. (OTC: AXIM) and the patent received by the company for the CBD chewing gum CanChew®. Medical Marijuana, Inc. owns 47% of Axim stock.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For details on Medical Marijuana, Inc.'s portfolio and investment companies, visit www.medicalmarijuanainc.com.
To see Medical Marijuana, Inc.'s video statement, click here. Shareholders are also encouraged to visit the Medical Marijuana, Inc. Shop for discounted products.
About Kannaway, LLC
Kannaway, LLC, 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.
AXIM® Biotechnologies, Inc. (OTC: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. Our flagship products include CanChew®, a CBD-based controlled release chewing gum, and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. We prioritize the well-being of our customers while embracing a solid fiscal strategy. Medical Marijuana, Inc. is a major investor in AXIM. For more information, visit www.AXIMBiotech.com.
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 FDA and are not intended to diagnose, treat or cure any disease.
Medical Marijuana Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil