SOURCE: Medical Marijuana Inc

March 24, 2011 02:41 ET

Medical Marijuana Inc Completes Merger With CannaBANK

FOOTHILL RANCH, CA--(Marketwire - March 24, 2011) - Medical Marijuana Inc (PINKSHEETS: MJNA) has completed an agreement with the Hemp Deposit Distribution Corp (HDDC), a Delaware based Co., d/b/a CannaBANK. This agreement calls for shares of MJNA to be issued to HDDC in exchange for assets which include real estate, Intellectual Properties, patents and future acquisitions. 

HDDC will assume administrative control and a majority stock position. The current officers and directors of MJNA will be replaced by officers and directors appointed by HDDC. The Hemp Network will remain as an operating division of the Company.

President Donald Steinberg stated, "The people behind CannaBANK are incredible. I am very impressed with the vision and the leadership they are showing. I am proud to turn over corporate leadership to this fine group."

Bruce Perlowin stated, "We feel that the current stockholders will benefit enormously with the new arrangement and we look forward to an extremely productive and lucrative future for everyone involved with MJNA."


CannaBANK's mission is to help create a sustainable economy which in turn helps create a sustainable planet offering health and economic freedom through education and awareness.


Medical Marijuana Inc. ( recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion thus opening the door for safe and lucrative investment opportunities.

The Hemp Network®
was established to provide hemp and wellness related products to a wide marketplace with the use of network marketing to create massive distribution

The Hemp Network has been formed to provide a marketing vehicle for massive global distribution of these new products and services as they hit the market, which is imperative to capture market share. The Hemp Network is now the launching pad for thousands of new ideas that people worldwide have in this giant emerging industry. 

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.

Contact Information