Medical Marijuana, Inc. Announces Q3 2018 as the Largest Sales Bookings Quarter in Company History
SAN DIEGO, Oct. 9, 2018 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the company and its subsidiary Kannaway® have booked their largest-ever sales revenue quarter in their history in Q3 2018, as well as reached major milestones in their business operations.
Medical Marijuana, Inc. Q3 2018 sales booked exceeded $19 million, an increase of more than 145% over Q3 2017. Kannaway® Q3 2018 sales booked exceeded $16 million, an increase of more than 200% over Q3 2017.
The company experienced many accomplishments in Q3 including its 2018 revenue surpassing its total 2017 revenue in July 2018, signing an agreement with Canadian extraction and formulation company Salvation Botanicals, Ltd. to bring Medical Marijuana, Inc.'s products to Canada, and its subsidiary HempMeds® hiring a new company president.
"In Q3, we are proud to have spread awareness about the benefits of cannabidiol (CBD) and our products through significant media coverage and operational successes," said Medical Marijuana, Inc. Chief Executive Officer Dr. Stuart Titus. "As we move into Q4, we will aim to continue expanding the availability of our premium quality products to consumers while also increasing shareholder value."
Medical Marijuana, Inc. and its subsidiaries also garnered positive news coverage in several national and international publications including The Today Show, CBS News, The Wall Street Journal, Reuters, Consumer Reports, Forbes, The Street, Huffington Post, The Spokesman Review, Westword, Direct Selling News, Bustle, Benzinga, Entrepreneur, Mic, and more.
"Our wide range of accomplishments and milestones during Q3 speak to the company's ability to remain a company of firsts within the legal cannabis industry," said Medical Marijuana, Inc. Chief Operating Officer Blake Schroeder. "Our expanding network of Brand Ambassadors make it possible for us to continue to enter new markets and innovate new product offerings."
THIRD QUARTER 2018 HIGHLIGHTS
During the third quarter of 2018, Medical Marijuana, Inc. and its subsidiaries achieved the following milestones and significant events:
Medical Marijuana, Inc.'s wholly owned subsidiary HempMeds® is the portfolio's predominate consumer brand and saw massive expansion and continued growth for its line of CBD hemp oil products, including the following:
- HempMeds® announced Todd Morrow as the new President of the company.
- The company sponsored the last-ever Run 4 Hope Festival & 5K in memory of Harper Elle Howard, the little girl with CDKL5 epilepsy who helped bring medical marijuana to Latin America.
- The company's brand Dixie Botanicals® launched new soft gel capsules.
- The company exhibited at leading health and wellness conferences such as Natural Products Expo East in Baltimore and Cannabis World Congress & Business Expo in Los Angeles.
- HempMeds® Brasil hosted an event on the benefits of CBD with former resident doctors of neurology in Belo Horizonte, Brazil.
Medical Marijuana, Inc.'s wholly owned subsidiary Kannaway® is the Company's premier lifestyle marketing brand and is the fastest-growing company in the direct-selling cannabis space with an exponential growth outlook for the future. The company experienced significant milestones including the following:
- Kannaway® hosted a European tour during the month of August with events in six cities featuring Brand Ambassadors, Kannaway® Europe leaders and the company's executive team.
- The company released a new hemp clothing line – Hempy's® responsibly-sourced Hemp Leggings.
- The company brought on professional athletes Goose Gossage and Derek Kennard as spokespeople.
About Medical Marijuana, Inc.
We are a company of firsts®. 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 corporate video,click here.
Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.'s shop.
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.
SOURCE Medical Marijuana, Inc.
Company Codes: OTC-PINK:MJNA, OTC-QB:MJNA, OTC-QX:MJNA