SAN DIEGO, CA - (NewMediaWire) - June 26, 2024 - Medical
Marijuana, Inc. (OTC:
MJNA) (the "Company"), announced today that Kannalife
Sciences, Inc.
(Kannalife"), a wholly-owned subsidiary of the Company's portfolio
investment company Neuropathix, Inc., a pioneering biotech company
specializing in the development of small molecule synthetic cannabinoid
therapeutics targeting inflammation, was awarded grant funding of $1.49 million
for its Parkinsons research using its Cannabinoid Therapeutic KLS-13019. The
Company owns approximately 22% of Neuropathix.
Read
the full Press Release here: https://www.globenewswire.com/news-release/2024/06/25/2903784/0/en/Kannalife-Secures-Funding-of-1-49-Million-from-The-Michael-J-Fox-Foundation-for-Parkinson-s-Research.html
Medical
Marijuana, Inc. Chairman and CEO, Tim Scott, commented on the news; "We
are one of Neuropathixs largest shareholders and the securing of this grant to
its wholly-owned subsidiary Kannalife is a very welcome development. We believe
that Kannalife's proprietary cannabinoid therapeutic KLS-13019 has the
potential to show efficacy in preclinical studies and subsequently move into
more meaningful clinical trials to be tested as an effective treatment for
Parkinson's Disease. If such potential for KLS-13019 were to be realized, we
believe it would have a significant impact on the value of the Companys
investment portfolio given its large ownership stake in Kannalife's parent
company, Neuropathix. Accordingly, we're very excited that the grant funding
will provide Kannalife with the ability to conduct Parkinson's research using
KLS-13019."
ABOUT
MEDICAL MARIJUANA, INC.
Medical
Marijuana, Inc. (OTCMarkets: MJNA) manufactures and distributes natural health,
beauty and hemp-derived cannabidiol (CBD) products via e-commerce, direct
sales, retail and wholesale distribution channels throughout the world. The
Company operates primarily through three divisions: Medical Marijuana, Inc.,
HempMeds, and Kannaway.
Medical
Marijuana, Inc.
Medical
Marijuana, Inc. is the parent company of all operating divisions and operates a
website to maintain an online presence, provide corporate, investor relations
and educational information and news relating to the Company and its
operations.
HempMeds
HempMeds distributes
CBD products directly in the US and through wholly owned subsidiaries
internationally (primarily in Mexico and Brazil). Distribution is accomplished
via its online presence and its sales staff.
Kannaway
Kannaway is
the Companys direct selling division which started in 2014 and was the first
Cannabis based direct selling company. Kannaway is the Companys largest
division and sells the Companys Natural Health and CBD products worldwide,
including, but not limited to the US, Europe, and Asia.
FORWARD-LOOKING
DISCLAIMER:
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.
LEGAL
DISCLOSURE:
Medical
Marijuana, Inc. does not sell or distribute any products that are in violation
of the United States Controlled Substances Act or any state or federal law.
Contact:
Emergent House Communications
hi@emergenthouse.com
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