Medical Marijuana Inc (OTCMKTS:MJNA) has stated that its Mexican subsidiary, HempMeds has been featured in Newsweek. The company stated that the coverage focused on Real Scientific Hemp Oil-X, a non-psychoactive, THC free hemp based CBD product from HempMeds. It should be noted here that RSHO-X is the first federally approved product in Mexico and was featured in the October 24 version of Newsweek.
In addition to this, the story features the legal status of the cannabis industry in Mexico, the growing market in California and the story of a little girl suffering from epilepsy and how RSHO-X was able to help her. Moreover, the article also features details of MJNA’s growing presence in the Latin American market and how quickly HempMeds is gaining popularity in the country. The CEO of Medical Marijuana, Dr. Stuart Titus, has claimed that the expansion in Latin America is poised to bring substantial economic growth to the company.
Separately, the company announced that HempMeds has opened a new office in Monterey, Mexico, which would be the new headquarters for its Mexican operations. Added to this, the company has also added Carlos Gonzales, as the new COO of HempMeds. Specifically, Mr. Gonzales would focus on improving the sales and distribution of products, from MJNA’s Mexican subsidiary, specially RSHO-X. Dr. Titus commented on the recent developments, stating that the new office provides them with the opportunity to conduct on-ground operations. He further stated that this would help strengthen their relations with the Mexican government, as they continue to educate lawmakers and health officials about the benefits of CBD.
The CEO also welcomed Mr. Gonzales to the management team and expressed confidence in his ability to perform in the Mexican market. It should be noted here that currently RSHO-X has been cleared for the treatment of neuropathic conditions, related to diabetes. Moreover, MJNA believes that its research could possibly lead to the discovery of CBD based treatments for neuro-degenerative and neurological disorders.
Medical Marijuana Inc (OTCMKTS:MJNA) completed the November 23 trading session with a gain of 30.12% in terms of its share value, to reach a close at $0.108 per share.