SAN DIEGO, Calif., April 4, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chains, announced today today that its subsidiary Kannaway® has been included on the recently published list of brands that have submitted Novel Foods applications to the UK Food Standard Agencies (FSA) for their cannabidiol (CBD) products.
According to Association for the Cannabinoid Industry (ACI)total sales of CBD products in the UK in 2021 were £690m, making it the second largest market for consumer CBD, just behind the US
This new list contains the names of products that were on the market before February 13, 2020 and that demonstrated a comprehensive toxicological approach to confirm safety. The FSA says all companies on this list can continue to market their products in the UK, and those that are not must halt all sales.
Kannaway® products on the FSA website now have a status of “Awaiting Evidence”, meaning that the FSA is awaiting final toxicology results and is satisfied with all other evidence submitted. Once received, and if successful, the Company will move to the final status “Validated”.
“We are proud to continue to pioneer the cannabis industry in Europe, including the UK,” said Medical Marijuana, Inc. CEO Blake Schroeder. “We established operations in Europe in 2018, becoming the first direct selling company to sell CBD there, and have since been able to experience tremendous revenue growth in the market. We look forward to future updates from the FSA on receiving our validated status.
Kannaway® has warehouses in the United States and Europe and recently received Certified Drug-Free clearance from Banned Substances Control Group (BSCG), a leading third-party certification and testing provider of dietary supplements and products. natural. The Company is also a member of the European Industrial Hemp Association (EIHA).
Kannaway® is a network sales and marketing company specializing in the sale and marketing of hemp-based botanical products. Kannaway® currently hosts weekly online sales meetings and conferences across the United States, providing unique insight and opportunities for sales professionals who want to become successful leaders in the sale and marketing of botanicals. of hemp.
On Medical MarijuanaInc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct non-psychoactive cannabinoid business units: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in providing the highest quality non-psychoactive legal cannabis products derived from industrial hemp; and a clinical research and development sector for cannabinoid-based botanical drugs led by its pharmaceutical investment companies and partners, including AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named one of the top CBD producers by CNBC in 2019. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina and Paraguay and is a leader in developing markets international. The company’s flagship product Genuine Scientific Hemp Oil has been used in several successful clinical studies in Mexico and Brazil to understand its safety and effectiveness.
Medical Marijuana, Inc. is headquartered in San Diego, CA and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To view the Medical Marijuana, Inc. corporate video, Click here.
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 these articles. This document contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. These 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 differ materially from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.
Medical Marijuana, Inc. does not sell or distribute products that violate the US Controlled Substances Act.
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