Medical Marijuana, Inc. Subsidiary Kannaway® Wins High Administrative Court Case to Legally Import CBD Oil in Finland
October 26th, 2021
SAN DIEGO, CA, Oct. 26, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that the Company’s subsidiary Kannaway® has won a historic court case in Finland proving the legality of the importation of the Company’s cannabidiol (CBD) oil.
“We have been a leader in bringing CBD to Finland, as well as to many other countries across Europe,” said Kannaway® CEO Blake Schroeder. “We knew that our operations and sales were legal in Finland but receiving this ruling from the Finnish High Supreme Administrative Court is promising for the future of our company and the entire industry. We are well on our way to becoming the first truly global cannabis company in the world.”
In 2018, Finnish Customs confiscated a bottle of Kannaway® Pure Gold and claimed that it was illegally imported since FIMEA, the Finnish Medicines Agency, lists CBD as a medicinal ingredient, causing the Finnish Customs Authority to take a “blanket approach” in treating all CBD products like medicines. On Friday, October 22, 2021, the Finnish Supreme Administrative Court declared that any product, according to EU directives, would need to be classified as a medicinal product on a case-by-case basis with specific claims on therapeutic effects, dosage and supporting evidence. In this case, the Supreme Administrative Court has declared that Kannaway® Pure Gold hemp oil is not a medicinal product.
“This is a huge win for Kannaway. Certainly, the European hemp industry will also benefit, but we are proud that it is our Company that took action, fought the battle and won. We hope that this sets an important precedent for other EU jurisdictions where national medicine agencies have held a similar opinion,” said Kannaway® Managing Director of International Janne Heimonen. “We have been fighting for many years now to prove that we are not, by law, selling medicine, but that our CBD oil is a nutritional supplement.”
Kannaway® is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway® currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.
About Medical Marijuana, Inc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company’s flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.
Medical Marijuana, Inc.’s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.’s corporate video, click here.
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.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
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