SAN DIEGO, June 1, 2012 /PRNewswire/ — Medical Marijuana, Inc. (Pink Sheets: MJNA)
From excerpts of an article written by the Medical Marijuana Business Daily; (click here to download full article)
Several prominent medical marijuana companies are focusing on what they see as the wave of the future in the MMJ industry: products infused with cannabidiol, or CBD.
The marijuana compound offers some of the pain-relieving benefits of THC, without the psychoactive effects. In other words, you don’t get stoned. Studies show that CBDs can help with a variety of medical conditions, including anxiety, nausea, inflammation and convulsions.
Just as importantly, hemp-based CBDs are legal in the United States, meaning patients don’t need to live in a state with MMJ laws and don’t have to worry about the government knocking on their door.
Publicly traded Medical Marijuana, Inc. last month paid $1.45 million to acquire Dixie’s intellectual property, formulas and recipes. The two companies have created a third, Red Dice Holdings, to license and market Dixie’s brand and NON-THC products in other states, focusing on hemp-based extracts.
Dixie Elixirs & Edibles is the latest firm in the medical marijuana industry to jump on the trend. The Denver-based company – which is now part of Medical Marijuana, Inc. – is preparing to roll out a new line of hemp-based CBD products including tinctures, salves and capsules. Dixie will officially launch the product line tomorrow and expects to add new CBD offerings at a rapid clip going forward, hoping to tap what it says is a $5 billion market.
The company initially will sell the products to dispensaries but then plans to make them available to the general public via mail order and an online e-commerce platform.
Other MMJ players are taking an interest in cannabidiols as well. Medical Marijuana, Inc. has taken an aggressive approach to CBD research, filing a patent last year for a process to extract cannabidiol and other cannabinoids from cannabis. It also inked a deal to distribute CBD-infused beverages. At the same time, individual dispensaries are producing high-CBD strains, and C3 Patients Association is distributing a CBD-infused pill called Idrasil. Most of these products are only available to card-carrying patients in MMJ states however, as they contain CBDs derived from cannabis and in many cases also contain THC.
The company has plans for several additional product launches over the next few months and has nearly 600 retail stores now carrying its products.
About Medical Marijuana, Inc.
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.
Medical Marijuana, Inc. does not grow, sell or distribute any substances that violate United States law or the controlled substance act.
For more information, please visit the company’s website at: www.MedicalMarijuanaInc.com
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.
Investor Relations Contact:
Stuart T. Smith
SOURCE Medical Marijuana, Inc.