Medical Marijuana Inc. (OTC Pink:MJNA) is pleased to offer
appreciation and praise for the efforts of the Department of
Justice and the United States Department of the Treasury in
providing guidance to financial institutions wishing to provide
services to cannabis-based businesses. The United States Department
of the Treasury – Financial Crimes Network (FinCEN) along with the
Department of Justice (DOJ), issued the press release FinCEN Issues
Guidance to Financial Institutions on Marijuana Businesses, which
establishes the framework and intent of the guidance.
The main focus of the guidance is to enhance the availability of
financial services for marijuana businesses while promoting
transparency and mitigating the risks associated with storing and
moving large sums of cash. The resulting improvement in business
operations and enhanced oversight creates tremendous opportunities
for Medical Marijuana Inc., its subsidiaries and its partners.
Strategic Alignment
As the leading provider of cannabidiol (CBD)-rich hemp oil
nutritional supplements, personal care and lifestyle products,
HempMedsPX™—a corporate portfolio company of Medical Marijuana,
Inc. and the exclusive master distributor and contracted marketing
company for CannaVest Corp and Medical Marijuana Inc—will
immediately benefit from the improved financial operations of
cannabis-based business providers. These CBD-rich hemp oil
products, which are legal to ship direct to consumers in all fifty
states, also occupy retail space with other cannabis-related
products. Increased foot traffic to cannabis retail stores will
significantly increase brand awareness of the product lines that
HempMedsPX™ markets and will provide more options for
consumers.
"With recent changes to the financial guidance for the cannabis
industry, HempMedsPX's authorized retailers will be able to
streamline operations, transition from a 'cash and carry' industry,
broaden their marketing efforts, and therefore increase sales—all
with peace of mind," says Charles Vest, VP of Communications for
HempMedsPX™.
These types of fundamental changes benefit the entire supply
chain and increase consumer trust in an industry often overshadowed
by the stigma of questionable legitimacy. Running a cannabis-based
business has always been a strictly controlled operating
environment. Providing strict oversight of all operations from
'seed to sale' in compliance with federal regulations and guidance
is a core competency for Medical Marijuana Inc., its subsidiaries
and partners. The full FinCEN guidance document, FIN-2014-G001 BSA
(Bank Secrecy Act) Expectation regarding Marijuana-Related
Businesses outlines the tracking and monitoring requirements for
financial institutions.
Medical Marijuana, Inc.'s Chairman and Chief Operating Officer,
Michelle Sides states, "These types of requirements are what make
entities like our wholly owned subsidiary Wellness Managed Services
a valuable strategic partner in implementing and sustaining
compliance programs that meet or exceed government requirements.
Wellness Managed Services recently announced in a press release
that it had reached an agreement with MPS Security and launched a
new company, MPS International (MPSI), as the nation's first
security and armored transport service provider to the cannabis
industry.
"MPSI was established to address the rapid increase in crime
associated with the marijuana industry. MPSIs' focus is on
providing armed and unarmed security for retail and grow
operations, inventory and revenue transport, compliance oversight
and workplace protection to the medical and adult use cannabis
industry in all current and future marijuana legal markets. We
would like to extend an open invitation to those in the financial
services industry to contact us to discuss the many services we are
able to provide your institutions.
"The progressive actions of the DOJ and DOT FinCEN are long
overdue and are important first steps to engage the financial
services industry in a way that promotes commerce and improves
public safety. It is milestones like these that allow us to execute
our strategic plans and enhance shareholder value; we welcome these
changes wholeheartedly," concludes Sides.
About HempMedsPX
HempMedsPX offers mainstream marketing, sales, customer service,
and logistics for the cannabis industry. HempMedsPX is a corporate
portfolio company of Medical Marijuana, Inc. (OTC Pink:MJNA) and
the exclusive master distributor and contracted marketing company
for CannaVest Corp. (OTC:CANV) and Medical Marijuana Inc. In
addition to handling sales and distribution, HempMedsPX is the
communication hub for the Medical Marijuana Inc. portfolio of
companies.
About MPS Security
Formerly Minders Protective Services, MPS Security was created
in 2003 as the security division of National Business
Investigations, Inc., a private investigations firm founded in 1967
by a former law enforcement officer in Orange County, CA. The
company provided general investigation and security services
throughout California and later expanded to Colorado in 1977.
MPS Security is a full-service security firm focused on physical
and asset security using uniformed security officers for site
security, events, residential communities and commercial
properties. MPS also offers access control, security patrols, loss
prevention, fraud detection and undercover officers. The Executive
Protection branch of MPS Security provides risk mitigation and
management services using individuals with unique skill-sets and
highly trained in executive protection, armed security in
workplace/employee protection, and travel safety escorts.
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 more information, please
visit the company's website at: www.MedicalMarijuanaInc.com
About CannaVest Corp.
CannaVest Corp. is in the business of investing and developing
hemp-based cannabinoid companies. CannaVest Corp. also develops,
produces, markets and sells end-consumer products to the
nutraceutical industry containing the hemp plant extract,
cannabidiol (CBD). Additionally, the company resells—to third
parties—raw product acquired by CannaVest Corp. pursuant to the
company's supply relationships in Europe. CannaVest Corp. seeks to
take advantage of an emerging worldwide trend to re-energize the
production of industrial hemp and to foster its many uses for
consumers. Cannabinoids (cannabidiol/CBD) are natural constituents
of the hemp plant, and CBD is derived from hemp stalk and seed.
Additional information is available from OTCMarkets.com or by
visiting CannaVest.com.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not
intended to diagnose, treat or cure any disease.
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.
LEGAL DISCLOSURE
Medical Marijuana, Inc., CannaVest Corp., and HempMedsPX do not
sell or distribute any products that are in violation of the United
States Controlled Substances Act (US.CSA). These companies do grow,
sell and distribute hemp-based products and are involved with
federally legal distribution of medical marijuana-based products
within certain international markets. Cannabidiol is a natural
constituent of hemp oil.
CONTACT: For further information, please contact:
Investor Relations:
Stuart T. Smith
SmallCapVoice.Com, Inc.
P. 512-267-2430
info@smallcapvoice.com
Corporate Contact:
Medical Marijuana Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)
www.medicalmarijuanainc.com
www.facebook.com/mjnainc
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