SAN DIEGO, CA--(Marketwired - December 15, 2016) - Medical Marijuana, Inc. (OTC PINK: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that its subsidiary company HempMeds® has formed a new business in Chile. Additionally, as part of the company's Latin American market expansion initiative, the company has begun importing their flagship product Real Scientific Hemp Oil™ (RSHO™) to Argentina.
This new Latin American expansion comes after the company received the first-ever federal approval from COFEPRIS to import a cannabis product into Mexico, along with two other historic first-ever approvals to import RSHO™ into Brazil and Paraguay.
"We are proud to be building a business in Chile and expanding our distribution of HempMeds® RSHO™ into more countries in Latin America. Other countries in the region such as Brazil, Paraguay and Mexico have legalized CBD products for the treatment of multiple medical indications, so developing a business presence in Chile and a distribution network into Argentina seemed like the best logical direction," said Chief Executive Officer of Medical Marijuana, Inc., Dr. Stuart Titus. "We are excited about the new venture and look forward to helping develop new economic opportunities for the people of Chile and Argentina."
"New legislation, like the recent decision by Argentina to allow the importation of cannabis oil are a giant step in our ever-continuing goal of educating the world on the potential medical advantages cannabinoids can provide. We believe Chile will be one of our largest markets in Latin America due to these new regulations and the government's plan to pay for the products for citizens in the future" added Dr. Titus.
In Chile, there have been many developments since the approval of a measure legalizing the cultivation and sale of marijuana for medicinal purposes in 2015 that have provided nearly 4,000 patients with free medical marijuana. Earlier this year the country opened the largest medicinal marijuana farm in Latin America. Also, Chilean President Michelle Bachelet signed a measure to remove marijuana from a list of dangerous drugs. The measure also allows for medical marijuana to be sold in pharmacies, giving patients greater access.
HempMeds® which created the first-ever "CBD pipeline" into the United States, is a corporate portfolio company of Medical Marijuana, Inc. (OTC PINK: MJNA) and the Company's exclusive master distributor and contracted marketing company. HempMeds offers the US market a wide range of cannabis and CBD products legally across all 50 states.
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.
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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.