SOURCE: MediJane Holdings Inc.

July 09, 2014 08:06 ET

MediJane Provides Shareholder Update

LONGMONT, CO--(Marketwired - Jul 9, 2014) - MediJane Holdings Inc. (OTCQB: MJMD) ("MediJane" or the "Company") is pleased to provide its shareholders an update and synopsis of recent corporate events. Since March 5, 2014, MediJane's primary focus has been providing medical marijuana patients with innovative and discreet delivery systems for using medical cannabis. 

On March 21, 2014, MediJane entered into a License Agreement with Phoenix Bio Pharmaceuticals Corporation ("Phoenix Bio Pharm"), a Colorado-based developer of medical cannabinoid products and delivery systems for the treatment and management of illnesses. As per terms of the License Agreement, MediJane acquired an exclusive North American license for all intellectual property, processes, and expertise related to certain medicinal cannabinoid products and delivery systems developed by Phoenix Bio Pharm. Medical cannabis products included in the License Agreement include transdermal patches, orally administered extracts, concentrated extracts for vaporizers and inhalers, sublingual and buccal dispensing products and extraction technology, suppository delivery systems, salves, creams, gels, lotions, and liquid extracts. The licensing agreement extends to additional products or active ingredients sourced by Phoenix Bio Pharm through its affiliates and third party suppliers and licensors. MediJane will also have the right to sublicense the rights and to utilize Phoenix Bio Pharm's copyrights for marketing and distribution purposes.

MediJane has recently launched its MediStrip Relaxation tongue strip. This new product allows the licensed patient to discretely manage their condition as recommended by their doctor. The MediStrip adds to MediJane's initial product focus of securing the "Daytime Pain plus CBD" capsule. The pain and inflammation reducing oral MediStrips and capsules target chronic, neuropathic, arthritic, and back pain with or without drowsiness. The dosage allows for accurate and controlled delivery of cannabinoids directly into the pain sufferer's system. These [smokeless] medical cannabis alternatives are part of MediJane's initial launch into the chronic pain management market that is estimated at over $45 billion annually in North America. 

"MediJane's MediStrip Relaxation oral strips are designed to provide a convenient, discreet, and flexible-dosage alternative for licensed medical cannabis patients," commented Lewis "Spike" Humer, Chairman of MediJane. "With a pleasant minty flavor and fast acting results, a MediStrip Relaxation can help someone achieve an enhanced state of relaxation or assist with pain management in an easy-to-use and variable dosage thin breath strip."

MediJane's follow up product, "CannaMist" sublingual cannabinoid spray, will now be branded and sold under the MediJane name. CannaMist is the brainchild of industry-leading botanist Pamela Clum, who joined the MediJane Advisory Board in May 2014. The sublingual spray delivery system allows for fast absorption of active cannabinoid alkaloids through the mucous system of the mouth and directly into the bloodstream for fast and effective symptom relief for the patient. 

As part of a rapidly growing product portfolio, MediJane is continuing its expansion plans into the state of California. The MediJane business strategy will now continue into the next phase with a core focus on sales and providing safe and legal access to medical cannabis products for licensed patients. 

Another benchmark moment occurred on May 27, 2014, when Gokush.com placed a wholesale order for our newly available MediStrip Relaxation product. GoKush.com (www.GoKush.com) is part of a member-only medical cannabis collective comprised of registered medical marijuana patients. All GoKush customers are verified with their recommending physician to ensure only licensed patients can access products available through its online platform and mobile delivery service. The GoKush.com delivery service enables registered medical marijuana patients to safely and legally access their cannabis-based care products within the convenience of their own home.

"We are very excited about how far we have progressed to date and feel solidly prepared for the tremendous amount of work we have ahead to advance our corporate mission and execute our business strategy to its full potential. Additionally, we are focusing on expanding our presence in Colorado, where we intend to offer our suite of medical cannabis products to both Colorado licensed patients and over-the-counter to adults over 21 years of age. This approach combined with the expanded social awareness of the benefits of medical cannabis and the changing political climate regarding cannabis use leads us to believe the future is very promising for MediJane and the entire legal cannabis industry," concluded Humer.

About MediJane Holdings Inc. (MJMD)

MediJane Holdings Inc. (MJMD) is in the business of marketing and distributing products within the medical marijuana industry, including transdermal patches, capsules, sublingual sprays, oral strips, and other medical delivery systems as part of its strategic alliances with Phoenix Bio Pharmaceuticals (www.phoenixbiopharmaceuticals.com). With sales offices opening in California and Colorado, and a planned expansion into a national footprint, MediJane products are designed to give doctors the ability to provide patients accurate and effective doses of cannabinoids to manage and treat pain and other specific illnesses. MediJane's products, including the innovative non-drowsy "Daytime Pain plus CBD" oral capsule, the Canna-Mist cannabinoid spray, and the MediStrip Relaxation oral strips, have been formulated for the treatment of inflammation and chronic, neuropathic, arthritic, and back pain. These smokeless alternatives provide accurate dosages and are part of MediJane's launch into the chronic pain management market. Any and all medically oriented statements have not been evaluated by the Food and Drug Administration.

For more information, visit www.medijane.co

Disclaimer/Safe Harbor: Some information in this MediJane press release constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and other factors which could cause MediJane's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in MediJane's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to MediJane herein are expressly qualified in their entirety by the above-mentioned cautionary statement. MediJane disclaims any obligation to update forward-looking statements contained in this press release, except as may be required by law.

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