SAN DIEGO, CA --(Marketwired - June 28, 2016) - Medical Marijuana, Inc. (OTC PINK: MJNA) announced today that Mexico's government has approved 22 additional import permits for Real Scientific Hemp Oil-X™ (RSHO-X™), expanding the Company's foothold into a market projected to eventually reach $10-12 billion annually.
On February 2, 2016, history was made when the government of Mexico issued two of the country's first permits to import Medical Marijuana, Inc.'s cannabidiol (CBD) product RSHO-X™ into the country to help two children suffering from severe forms of epilepsy. Since the first import permits were issued, the Mexico government has granted 22 additional permits to treat mostly adolescents in the country suffering from epilepsy.
"With its more than 120 million residents, Mexico represents a potentially vast market for Medical Marijuana, Inc.," the Company's CEO Dr. Stuart Titus said. "Our company's goal is 'access for all' and we have already made great strides in Mexico to get our products to the people there suffering with debilitating medical conditions. As the word continues to spread about the positive results families are experiencing from our products, we expect demand to continue to increase throughout the country."
HempMeds® Mexico, the distributor of Medical Marijuana, Inc.'s RSHO-X product in Mexico, has worked closely with RSHO-X advocate Raul Elizalde and his Por Grace Foundation, which was established to ensure families receive the right to health care and access to CBD hemp oil -- and to lobby for medical marijuana legalization in Mexico. The partners' combined efforts have led to major changes in Mexico's marijuana policy, as Mexico President Pena Nieto announced on April 21, 2016, his intent to move the country away from marijuana prohibition and towards prevention and regulation, including medicinal use.
President Nieto's marijuana reform bill, which authorizes the use and importation of all medicine made with marijuana, was approved by the Mexican Senate on June 15, 2016, but is now postponed for a new vote until September 2016 after Mexico legislators made changes to the original bill.
"The roadblocks medical marijuana legalization in Mexico is currently undergoing as President Nieto's reform bill works its way through the lawmaking process are expected with such major reform initiatives," said Dr. Titus. "Despite the pause on a definitive agreement from Mexico legislators, Medical Marijuana, Inc. and our partners in Mexico, including Raul Elizalde and his Por Grace Foundation, will continue to fight for Mexican families to expand and ensure legal access to medical marijuana for all those in need of it. In the meantime, RSHO-X continues to be available via a doctor's prescription as the first legal cannabis-based product within Mexico."
"We are optimistic that lawmakers in Mexico will be able to work together in putting together a complete marijuana reform bill that will benefit their citizens and continue their country's compassionate position on health," concluded Titus.
Following is some recent Mexico news coverage highlighting the additional import permits:
· Proyecto Puente: http://proyectopuente.com.mx/2016/05/19/la-cofepris-ha-entregado-48-permisos-uso-cannabidiol/
· Linea Ejecutiva: http://lineaejecutiva.com.mx/nacional/cofepris-ha-entregado-48-permisos-para-uso-de-cannabidiol/
· El Siglo de Torreon: https://www.elsiglodetorreon.com.mx/noticia/1225800.suman-48-permisos-para-el-cannabidiol.html
· El Heraldo: http://heraldo.mx/suman-48-permisos-para-el-cannabidiol/
· Zocalo Saltillo: http://www.zocalo.com.mx/seccion/articulo/van-48-permisos-de-cannabis-medicinal-1463729488
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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.
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.