SAN DIEGO, July 25, 2012 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA) a leading hemp industry innovator, is pleased to announce that PhytoSPHERE Systems, a portfolio company of MJNA that develops pharmaceutical grade medicinal hemp production facilities, is expanding its production facilities to Europe. This expansion will be done through MJNA's newly formed portfolio company Canipa Holdings, which has established an office and team in the city of Bucharest, Romania, to handle its European product launch and distribution.
Canipa Holdings has been formed to assist Medical Marijuana Inc.'s expansion and marketing efforts into 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 as well as obtaining various licenses for the production of industrialized varieties of hemp.
About PhytoSPHERE Systems LLC
PhytoSPHERE Systems, LLC is the world's leading cannabinoid based biotechnology company that builds and develops growing, packaging and extraction technologies and deploys them in self-contained, highly efficient state of the art facilities as well as traditional hemp agricultural facilities, for the pharmaceutical and neutraceutical raw ingredients markets.
PhytoSPHERE's highly efficient growth, packaging and extraction technologies provide clients with a compact, safe, pollutant-free facility which will allow them to:
PhytoSPHERE's core technologies consist of:
PhytoSPHERE Systems has recently introduced its raw Cannabidoil (CBD) Oil product line for formulation and distribution through licensing partner, Dixie Elixirs in Colorado. In June, Dixie successfully launched the Dixie X product line, a family of non-THC, CBD based products. The Dixie X product line contains the highest CBD / Cannabidiol concentrations of any product on the market today.
To learn more about CBD and its medicinal benefits, please click here:
In addition to distribution in Colorado, portfolio company Red Dice Holdings recently announced that it would launch on-line sales of Dixie X and CBD-based CanChew gum through licensed distributors in the US within the next 60 days. Further, Red Dice Holdings will enter into exclusive licensing agreements with selected partners to distribute Dixie X and CanChew in California, Arizona and Washington D.C. within the next 90 days. The Company expects significant revenue increases once these distribution agreements are fully in place.
More on Red Dice and Dixie from the Tuesday June 26th 2012 Press Release:
Hemp Tissue Culture Research & Development
PhytoSPHERE Systems, the leading cannabinoid based hemp Biotechnology Company, has documented over 200 industrial hemp varieties and has identified specific ones with the highest levels of Cannabidiol for further development and production by PhytoSPHERE Systems. Based on its technology, PhytoSPHERE Systems is able to produce the highest level of genetic purity without the typical seed-based inconsistency issues which lead to a higher rate of plant disease.
Currently companies involved in the production of Cannabis L Sativa varieties do not have a single source for genetic purity, consistency and cannabinoid profiles. Often plants grown from seeds develop mold, fungus or other diseases and little can be done to prevent this. Using tissue cultures, as PhytoSPHERE Systems does, the plants have a higher likelihood of success because of their genetic purity and identical attributes. Combined with other PhytoSPHERE Systems technology, this allows for a consistent high quality plant, which in turn delivers a consistent pharmaceutical-grade end product.
The combination of PhytoSPHERE Systems superior technology, proprietary and patented processes, genetically consistent products and tissue culture based plants will give us the ability to produce the cleanest and highest quality pharmaceutical grade extracts and compounds currently on the market. Initially, these extracts and compounds will only be used in the manufacture of products to be distributed through MJNA's portfolio companies, thereby giving these companies and MJNA a distinct competitive advantage in the marketplace.
"Once PhytoSPHERE Systems receives its European approval we will establish a production facility and begin producing our high value hemp extracts. For the past several months we have been working to obtain various industrial hemp licenses and form partnerships to further the PhytoSPHERE entry into Europe," said Medical Marijuana Inc. President Michael Llamas. "With our anticipated EU marketing approvals, we will be able to sell directly to the EU market from our EU facilities. This will cut our cost to produce and increase our net margin on the products we sell. We appreciate the continued support of our shareholders throughout this lengthy developmental process. We are very close to 'the finish line' and anticipate numerous additional revenue sources in the near future."
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.|
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