Before we get into the due diligence on Medical Marijuana Inc (OTCMKTS:MJNA), its important to take notice of today’s news released by MARAPHARM Ventures Com NPV (OTCMKTS:MRPHF). Marijuana stocks tend to move up higher on news and so could be the case today with MRPHF. Marapharm Ventures Inc. announced a Second Agreement to Acquire Assets in California. As per the press release, “We are really excited to have a second property as well as three more licenses in the California market. Marapharm is positioning to be an effective competitor and marketer in the most populous state in the nation. Smaller and well located facilities like this one are perfect for training staff and for product testing of new strains and products,” says Linda Sampson, Marapharm CEO and director. It would be interesting to see if today’s press release will this be enough for the bulls to take over MRPHF.
Medical Marijuana Inc (OTCMKTS:MJNA) has announced that Kannaway LLC, its portfolio company, has launched a refreshed version of its world-renowned brand, at the “Genesis” event in San Diego, held this month. The event was two day long and comprised of award-winning training sessions, as well as talks from Kannaway leaders. The company stated that the talks focused on best practices that help in building a better business.
Kannaway also took the opportunity to announce the newest members of its leadership. Moreover, the company introduced a new stock option plan for brand ambassadors. This was in addition to a 7-day cruise trip to Cabo San Lucas, Mexico. Furthermore, the company announced that two of its brand ambassadors reached the platinum level, under Kannaway’s social responsibility initiative. As part of the brand refreshment, Kannaway has added three new products to its line of hemp oil and CBD products. These include the Pure CBD Liquid, Premium Hemp Oil capsules and Pure CBD capsules.
Blake Schroeder, the CEO of Kannaway, expressed pride at the launch of their new brand and the three products, while also stating that brand ambassadors were excited about the company’s new stock incentive program. He also announced the launch of the company’s new program, ECHO, to which Kannaway and its brand ambassadors made the first contribution. In association with its brand renewal strategy, the company has also introduced a new website.
Earlier, another major investment from MJNA, Axim Biotechnologies (OTCMKTS:AXIM), has received a notice of allowance, from the USPTO, in association with its patent for its use of all cannabinoids, in its new control release chewing gum. This indicates that Axim is clear to file a patent for the application. Medical Marijuana noted that the new patent would be an extension of Axim’s current patent, which covers the use of chewing gum as a controlled delivery mechanism for cannabinoids.
Medical Marijuana Inc (OTCMKTS:MJNA) had a trade volume of 36.18 million and lost 12.5% of its share value, during the November 21 trading session, to close at $0.098 per share.