World’s First-Ever Publicly Traded Hashish Firm Appoints Longtime Board Member as New CEO
SAN DIEGO, CA – March 14, 2023 – Medical Marijuana, Inc. (OTC: MJNA) (the “Firm”), a holding firm with working property devoted to the hashish and hemp industries, together with portfolio investments in firms within the biotechnology trade, introduced at this time the appointment of Dr. Timothy R. Scott as its new Chief Government Officer, President, and Chairman of the Board. Dr. Scott takes the helm of the group after serving on the Firm’s board since 2015, in addition to for a number of years on the Boards of each of the entities that comprise the Firm’s funding holdings, signaling an intensive understanding of the Firm’s working subsidiaries and portfolio investments. Dr. Scott had just lately taken an advisory position inside the Firm, having accepted a place because the Chief Individuals Officer, earlier than accepting this new position of CEO.
Dr. Scott’s appointment follows the acceptance by the Board of Administrators of the resignation of Blake N. Schroeder who served because the Firm’s CEO, President and Chairman of the Board since 2021 and served in different government roles going again to 2016. Mr. Schroeder will proceed to serve on the boards of the Firm’s portfolio investments; Axim Biotechnologies, Inc. (OTCQB: AXIM) and Neuropathix, Inc. (OTCQB: NPTX). As well as, he’ll present consulting and advisory companies to Neuropathix.
“I wish to personally thank Blake for his a few years of service and dedication to our group,” newly appointed CEO of Medical Marijuana, Inc. Dr. Timothy R Scott stated. “We’re happy that he’ll stay part of the MJNA household by means of his board memberships with our portfolio investments and his advisory position with Neuropathix, which we imagine could be considerably supported and superior by Blake’s involvement and his contacts within the biotech area.”
Dr. Scott added: “Our Firm, together with different firms within the state and federally authorized hashish enterprise, has confronted elevated competitors that has result in reducing gross sales and tighter margins. We count on to see substantial consolidation within the trade and are positioning the Firm to make the most of this by endeavor important monetary and operational restructuring efforts to extend efficiencies, protect and improve money stream, incentivize key staff, and improve our portfolio investments. I imagine these efforts will allow the Firm to develop extra shortly and profitably as we transfer ahead. We’ve among the many highest high quality merchandise within the trade, a diversified distribution platform, with important limitations to entry for would-be opponents, and skilled leaders in our two key working subsidiaries, HempMeds and Kannaway. As well as, the Firm believes that its portfolio investments Neuropathix, Inc. (image; NPTX) and Axim Biotechnologies, Inc. (Image: AXIM) have important untapped worth, and we proceed to be extraordinarily constructive for the outlook of those firms and their respective expertise and mental property.”
Headquartered in Vista, California, Medical Marijuana Inc. is the first-ever publicly traded hashish firm in the USA that launched the world’s first cannabis-derived nutraceutical merchandise, manufacturers and provide chain, and stays one of many world’s main producers and suppliers of hemp-derived CBD. Its portfolio of working property consists of HempMeds, which was the primary firm to obtain historic import permits for CBD merchandise from the governments of Brazil, Mexico, Argentina, and Paraguay and continues to develop its market share in these areas, in addition to Kannaway, the world’s first direct promoting firm devoted to the hemp CBD wellness area. Since its inception, Kannaway has expanded to over 40 nations and immediately impacts the lives of hundreds of brand name ambassadors by means of its value-build gross sales platform. Past these working property, Medical Marijuana Inc. holds important debt and fairness investments in two firms within the biotechnology area (Axim Biotechnologies, Inc. and Neuropathix, Inc.).
About Medical Marijuana, Inc.
We’re an organization of firsts®. Medical Marijuana, Inc. (MJNA) is a hashish firm with two distinct working enterprise items within the non-psychoactive cannabinoid area: a world portfolio of cannabinoid-based nutraceutical manufacturers led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality authorized non-psychoactive hashish merchandise derived from industrial hemp. Medical Marijuana, Inc. was named a high CBD producer by CNBC and was additionally the primary firm to obtain historic import permits for CBD merchandise from the governments of Brazil, Mexico, Argentina, and Paraguay and is a frontrunner within the improvement of worldwide markets. The corporate’s flagship product Actual Scientific Hemp Oil has been utilized in a number of profitable medical research all through Mexico and Brazil to grasp its security and efficacy. As well as, on account of its holdings in Neuropathix, Inc. the Firm is invested in cannabinoid-based medical analysis and botanical drug improvement. Additionally, the Firm has important holdings in AXIM® Biotechnologies, Inc., which is engaged within the manufacture and sale of FDA-cleared dry eye illness (DED) diagnostic exams and just lately filed a patent for a fentanyl neutralizing antibody take a look at which will have utility in decreasing fentanyl overdose deaths.
Medical Marijuana, Inc.’s headquarters is in Vista, California, and extra info is on the market at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.’s company video, click on right here.
FORWARD-LOOKING DISCLAIMER
This press launch might include sure forward-looking statements and knowledge, as outlined inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934, and is topic to the Secure Harbor created by these sections. This materials accommodates statements about anticipated future occasions and/or monetary outcomes which might be forward-looking in nature and topic to dangers and uncertainties. Such forward-looking statements by definition contain dangers, uncertainties and different elements, which can trigger the precise outcomes, efficiency or achievements of Medical Marijuana, Inc. to be materially completely different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements haven’t been evaluated by the Meals and Drug Administration. Merchandise manufactured by the Firm and distributed in the USA are usually not supposed to diagnose, deal with, remedy, or stop any illness.
LEGAL DISCLOSURE
Medical Marijuana, Inc. doesn’t promote or distribute any merchandise which might be in violation of the USA Managed Substances Act.
CONTACT:
Public Relations Contact:
Kyle Porter
CEO
CMW Media
- 858-221-8001
Investor Relations Contact:
(858) 283-4016
