SAN DIEGO, July 24, 2012 /PRNewswire/ — Medical Marijuana Inc (OTC: MJNA) a leading hemp industry innovator, is pleased to announce the formation of Canipa Holdings in the European Union State of Romania. The company has established an office and team in the city of Bucharest, Romania, to handle its European product launch and distribution.
About Canipa Holdings
Canipa Holdings has been formed to assist Medical Marijuana Inc.’s expansion efforts in Europe. Canipa Holdings will focus its efforts on obtaining European product and marketing approvals for the entire line of Medical Marijuana Inc.’s portfolio of products.
These products include:
Dixie X CBD Product Line
Dixie X Scripts
Dixie X Dew Drops
Dixie X Buccal Spray
Dixie X Topical Salve
Hemp Oil and derivative extracts
Canipa Holdings is currently working with European Health Authorities and their Governmental counterparts, and expects to receive preliminary approvals in the next 60 days and final approvals within 90 days. Once approved the products will be sold under established distribution partnerships throughout the European Union Member Countries which currently consists of the following 27 members:
EU Member Countries
Austria , Belgium , Bulgaria , Cyprus , Czech Republic , Denmark , Estonia , Finland , France , Germany , Greece , Hungary , Ireland , Italy , Latvia , Lithuania , Luxembourg , Malta , Netherlands , Poland , Portugal , Romania , Slovakia , Slovenia , Spain , Sweden , United Kingdom.
The company anticipates targeting these other European Countries for approval over the next 24 months: Albania, Andorra, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Georgia, Liechtenstein, Moldova, Monaco, Norway, Russia, San Marino, Switzerland, Ukraine, Vatican City State.
“This is a significant step for Medical Marijuana Inc. We have spent years developing our portfolio of products and building our distribution network. The teams at Dixie and CanCHEW have done an amazing job with the product development. Our initial launch in the Colorado market has been extremely well received with Dixie products being carried in over 450 of the states approximately 600 dispensary locations. With this platform established we can now turn our focus to the rest of North America and Europe. Once approved in the EU, this opens up our over the counter product line to millions of new customers,” states Michael Llamas, President of Medical Marijuana Inc.
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.
Medical Marijuana, Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)
Investor Relations Contact:
Stuart T. Smith
SOURCE Medical Marijuana Inc.