Medical Marijuana Targets $1+ Billion Mexican Market
February 9th, 2016
Medical Marijuana Inc. ( ), a leading developer of hemp-based CBD products, is targeting Mexico as its next big market opportunity. After securing the clearance to distribute its CBD-based products in Brazil, the company obtained a permit to export its products into Mexico to treat specific medical cases. The company’s Real Scientific Hemp Oil will be initially distributed to two patients suffering from epilepsy.
The company’s RSHO-X is free of the psychoactive tetrahydrocannabinol (“THC”) and contain higher levels of cannabidiol (“CBD”) compounds that have been shown to be effective in treating certain medical conditions. More specifically, the product is a natural, non-GMO, full spectrum CBD oil grown in northern European microclimates without any pesticides, herbicides, or chemical fertilizers. It’s also the first CBD hemp oil that is ISO tested.
“With Mexico’s government’s decision to approve import permits, we are extremely proud of our capability to provide our cannabidiol (CBD) hemp oil, RSHO-X, to the more than 120 million residents of Mexico,” states Stuart W. Titus, PhD and Chief Executive Officer of Medical Marijuana, Inc. “Our overall mission is ‘access for all’ and this is a major milestone achievement.”
While Mexico hasn’t legalized recreational or medical marijuana, a November ruling by the Supreme Court opened the doors to eventual legalization of the drug. Senators introduced a bill designed to import medical marijuana for about 5,000 patients shortly after the ruling, while many companies are positioning themselves to take advantage of the opportunity. With a population of 120 million, the country could prove to be a valuable end market.
Shares of Medical Marijuana Inc. jumped more than 7% early during today’s session.
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