Medical Marijuana Inc (OTCMKTS:MJNA) has announced that its Mexican subsidiary, HempMeds Mexico would be distributing its flagship product, RSHO-X, in Colombia. It should be noted here that the product is currently the only hemp based product, approved for import in Mexico. Moreover, the Colombian government has been re-evaluating its regulations for cannabis-based products, for medical purposes. The company has already showcased the product at the Expo Mede Weed, held in the city of Medellin. The news has helped MJNA record further gains and continue its upward trend in the stock market, as it added another 3.61% to its share value, during the November 28 trading session.
Dr. Stuart Titus, the CEO of MJNA, expressed his excitement at the company being able to reach consumers in Colombia and develop a whole new market. He claimed that not all countries are able to get fast and easy access to CBD products, due to regularity issues. However, once and if the Colombian government approves RSHO-X for import, like Mexico, the Colombians would be able to get easy access to CBD as well.
Dion Markgraff, the president of HempMeds Mexico, expressed pride at being able to attend the expo. He was of the opinion that the event allowed Colombians to interact with different cannabis companies and experts and learn about their products.
Another company working to further develop its marijuana business is Marapharm Ventures Inc (OTCMKTS:MRPHF). The company recently purchased automated cannabis vending machines, through which it aims to boost its presence in marijuana dispensaries and retail stores, where cannabis is legal. MRPHF has announced that the machines would not only reduce the labor costs involved, but would also ensure efficient inventory management and secure storage of its products.
Furthermore, Marapharm plans to introduce these machines in all states, with a cannabis legislation, even where it does not hold a license or have growing operations. In such cases, the machine would hold cannabis products from other companies. The first two machines would be delivered in 2017 and would be installed in Nevada and Washington, under a pilot program.