Medical Marijuana, Inc. Targets New $11 Billion Market Opportunity as World Anti-Doping Agency Removes CBD From Banned Substances List
October 10th, 2017
News, Top News
SAN DIEGO, Oct. 10, 2017 /PRNewswire/ —Medical Marijuana, Inc. (MJNA), the first publicly traded cannabis company in the United States, today announced that it will move forward with market expansion efforts in athletics with recent announcement by the World Anti-Doping Agency (WADA), the foundation initiated by the International Olympic Committee to coordinate and monitor drug use in sports, that cannabidiol (CBD) will be removed from its list of banned substances in 2018.
Medical Marijuana, Inc.’s Real Scientific Hemp Oil-X™ (RSHO-X)™ CBD hemp oil, which is the only product on the market to be recognized by international governments to be completely free of tetrahydrocannabinol (THC), the well-known psychoactive compound in marijuana, is an ideal option for athletes looking to safely incorporate cannabinoids into their regimen. Derived from industrial hemp and imported from Europe through the world’s first CBD pipeline, RSHO-X was the first cannabis product approved by the Mexican Federal government for import from the US and is currently being prescribed for various indications such as epilepsy, diabetic neuropathy and pain associated with cancer treatment.
“This decision by the WADA is on par with what the rest of the medical world and countries around the world are realizing about the therapeutic benefits of CBD and athletes specifically need solutions in the areas of nutrition, relaxation, focus, recovery and repair,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “For athletes, our first-of-its kind THC-free RSHO-X eliminates the concern of a violation for athletes or anyone else liable to drug tests.”
In 2015, Wada tested over 300,000 athletes worldwide with around 4% showing signs of cannabinoids in their system, which under previous regulations included CBD and would automatically disqualify any athlete testing positive. This new regulation will allow these athletes to use products made by the Company without fear of failing these types of tests. The sports nutrition market continues to grow with Euromonitor International estimating spending in the category to be around $11 billion in 2015 and projecting it to grow to $14 billion by 2019. The Company plans to further efforts to capture additional market share with their cannabinoid products since the recent announcement by WADA.
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. For details on Medical Marijuana, Inc.’s portfolio and investment companies, visit www.medicalmarijuanainc.com.
HempMeds® offers mainstream marketing, sales, customer service, and logistics for the cannabis industry. HempMeds® is a corporate portfolio company of Medical Marijuana, Inc. (OTC Pink: MJNA) and the Company’s exclusive master distributor and contracted marketing company. In addition to handling sales and distribution, HempMeds® is the communication hub for the Medical Marijuana Inc. portfolio of companies.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
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. The statements in this press release have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease. The Company does not sell or distribute any products that are in violation of the United States Controlled Substances Act. The Company does sell and distribute hemp-based products.
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