Medical Marijuana Inc. and LiveWire Ergogenics Inc. Sign Memorandum of Understanding to Develop HempWire, LLC
March 20 2014 - 9:00AM
Marketwired
Medical Marijuana Inc. and LiveWire Ergogenics Inc. Sign Memorandum
of Understanding to Develop HempWire, LLC
Companies Enter $200+ Billion Global Market With First-Ever
CBD-Rich Hemp Oil-Infused Functional Foods; Domestic Launch Through
Thousands of Retailers, Wholesalers, and Distributors
SAN DIEGO, CA--(Marketwired - Mar 20, 2014) - Medical Marijuana
Inc. (PINKSHEETS: MJNA) is pleased to inform shareholders and the
general public it has signed a memorandum of understanding (MOU) to
develop a joint venture with LiveWire Ergogenics, Inc. (OTCQB:
LVVV) under the name of HempWire, LLC. This MOU enters Medical
Marijuana Inc. into the functional foods market with immediate
distribution through LiveWire's extensive chain of existing
convenience store retailers, grocery stores, and pharmacy chain
stores. Research indicates that the overall global functional foods
market is valued at $221.58bn in 2014.
The supply chain will begin with HempMedsPX™, a corporate
portfolio company of Medical Marijuana, Inc. and the contracted
marketing company that distributes non-psychoactive cannabidiol
(CBD)-rich hemp oil products nationwide. LiveWire will purchase
these hemp oil products from HempMedsPX™ then manufacture and
package CBD-rich hemp oil-infused functional foods. These
first-of-their-kind functional food products from HempWire will
include a CBD-rich hemp oil taffy-like consistency chewable square.
HempWire will distribute this new product leveraging both
LiveWire's and Medical Marijuana, Inc.'s existing network of
retailers, resellers, wholesalers and distributors.
"LiveWire has extensively researched the medical marijuana
industry, and we find Medical Marijuana, Inc. to have the greatest
credibility," said Bill Hodson, CEO of LiveWire Ergogenics, Inc.
"We believe our collaborative effort to develop HempWire has the
potential to reshape functional foods. We provide precise dosage,
consistency and world class manufacturing. Medical Marijuana, Inc.,
in our opinion, has the best research, industry experts, and
regulatory compliance officers. The manufacturing will be done
through LiveWire Ergogenics, and we will manage our distribution
portion of HempWire through our Herbaceuticals division."
"Signing the MOU to develop HempWire with LiveWire begins the
process to create an entirely new market for CBD-rich hemp
oil-infused functional foods," commented Michelle Sides, Chief
Operating Officer of Medical Marijuana, Inc. "As we continue to
develop new products for emerging markets, establishing an
appropriate manufacturing relationship for this new market was the
natural next step in the process. Medical Marijuana, Inc. selected
LiveWire because they are an established manufacturer that can
provide our customers with the same consistency and quality that
they have come to expect from our company."
About LiveWire Ergogenics, Inc. LiveWire Ergogenics Inc. was
formed in 2008 and its products are available for purchase at
thousands of retail outlets nationwide or are available online at:
http://www.livewireenergy.com
Facebook: http://www.facebook.com/LiveWireEnergychews Twitter:
https://twitter.com/EnergyChews Investor Information:
http://www.otcmarkets.com/stock/LVVV/quote
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. (PINKSHEETS: MJNA) and the exclusive master distributor and
contracted marketing company for CannaVest Corp. (PINKSHEETS: 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 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
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. and HempMedsPX do
not sell or distribute any products that are in violation of the
United States Controlled Substances Act (US CSA). The company does
grow, sell and distribute hemp-based products and are involved with
the federally legal distribution of medical marijuana-based
products within certain international markets. Cannabidiol is a
natural constituent of hemp oil.
LiveWire Investor Relations Contact: Bill Hodson LiveWire
Ergogenics, Inc. 714-940-0155 Email: Email Contact Investor
relations contact: Stuart T. Smith SmallCapVoice.Com, Inc. P.
512-267-2430 Email Contact Corporate Contact: Medical Marijuana,
Inc. Toll Free: 888-OTC-MJNA (888-682-6562)
www.medicalmarijuanainc.com www.facebook.com/mjnainc
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