Medical Marijuana Inc.'s HempMedsPX Explains Economic Impact of U.S. Farm Bill Passing
February 11 2014 - 9:00AM
Medical Marijuana, Inc. (OTC Pink:MJNA) and 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. – are celebrating the
U.S. government's decision to allow hemp farming in the U.S. with
the long awaited passing of the Agricultural Act of 2014, commonly
known as the "Farm Bill." The Company currently imports non-GMO
cannabidiol (CBD)-rich industrial hemp oil internationally through
their network of generational farms.
"This is the first piece of federal legislation to revive
industrial hemp farming in the USA since World War II," states
CannaVest Corp. VP of Product Development, Christopher Boucher.
"From a HempMedsPX perspective, domestic hemp harvesting and
production would translate to a decrease in importation fees and
the ability to create good domestic jobs." HempMedsPX alone has
created 25 full-time jobs over six months and is actively
recruiting staff.
An American pioneer of the hemp industry, Boucher is the first
to have legally planted a domestic hemp field twenty years ago at
the United States Department of Agriculture (USDA) Research Center
in Imperial County, California. Although the hemp grown by Boucher
was well documented and fully permitted by the USDA, the State of
California ordered the federally-sanctioned field to be plowed
under. "The Farm Bill prevents this from happening to upper
educational institutions and Departments of Agriculture in states
where cultivation of hemp is legal," continues Boucher.
The ten states that have legalized industrial hemp farming are:
California, Colorado, Kentucky, Maine, Montana, North Dakota,
Oregon, Vermont, Washington and West Virginia. While HempMedsPX
currently markets cannabidiol (CBD)-rich hemp oil supplements and
body care products, Boucher notes that hemp can be made into a
variety of other everyday products, including: paper, plastic,
film, fabric, cellophane, resins, insulating foam, and furniture.
Silica from hemp stalk can be mixed to form a solid material
similar to concrete but without toxic byproducts inherent in
concrete production, and industrial hemp can be turned into a
highly sustainable biofuel. With up to four crop cycles possible
annually, and hemp's ability to be grown in almost all of the
country's diverse microclimates, Boucher is hopeful that industrial
hemp agriculture could redefine American industry and local
economies nationwide.
As part of the Company's continued support for the
reintroduction of hemp agriculture in America, HempMedsPX is
sponsoring Hemp Aide, a benefit concert featuring Kris
Kristofferson Feb. 22 at the Crest Theatre in Sacramento. The
concert will raise awareness of the benefits of industrial hemp,
and will recognize hemp farmers, hemp businesses, and grassroots
hemp agriculture supporters. Hemp Aide is made possible by the
California State Grange and musician John Trudell of Hempstead
Project Heart. Tickets are available online at:
http://bit.ly/HempAide
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 CannaVest Corp.
CannaVest Corp. is in the business of investing and
developing hemp-based businesses. 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 international relationships. 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. does 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 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 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
Medical Marijuana (PK) (USOTC:MJNA)
Historical Stock Chart
From Apr 2024 to May 2024
Medical Marijuana (PK) (USOTC:MJNA)
Historical Stock Chart
From May 2023 to May 2024