Medical Marijuana Inc. and LiveWire Ergogenics Inc. Sign Memorandum of Understanding to Develop HempWire, LLC
March 20 2014 - 10:00AM
Medical Marijuana Inc. (OTC Pink: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. (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 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.
CONTACT: Investor relations contact:
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
LiveWire Investor Relations Contact:
Bill Hodson
LiveWire Ergogenics, Inc.
714-940-0155
Email: ir@livewireenergy.com
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