Medical Marijuana Inc. and LiveWire Ergogenics Inc. Launch HempWire, LLC
April 07 2014 - 9:00AM
Medical Marijuana Inc. (OTC Pink:MJNA) is pleased to inform
shareholders and the general public it completed the joint venture
with LiveWire Ergogenics, Inc. (OTCQB:LVVV) under the name of
HempWire, LLC ("HempWire"). The joint venture agreement stipulates
that Medical Marijuana Inc. and LiveWire Ergogenics ("LiveWire")
will equally split the net profits (50/50) from all cannabidiol
(CBD)-rich hemp oil functional food sales distributed through
HempWire. Market research indicates that the worldwide market for
functional food is valued at $221.58bn in 2014.
"Both companies are excited about the partnership," states
Michelle Sides, Chief Operating Officer of Medical Marijuana Inc.
"We chose LiveWire as an established manufacturer that can provide
our customers with the same consistency and quality that they have
come to expect from our company. To start, HempWire will bring the
first-ever CBD-rich hemp oil energy square chew to the market, with
more products to come."
Product development will be implemented by 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 CBD-rich hemp oil from HempMedsPX™, then manufacture and
package CBD-rich hemp oil-infused functional energy squares—a
popular functional food format with a taffy-like consistency.
HempWire will distribute these—and other new products to
come—through both LiveWire's and Medical Marijuana Inc.'s network
of retailers, resellers, wholesalers and distributors.
"HempWire's launch enters Medical Marijuana Inc. into a new
market for the Company," continues Sides. "Functional foods are one
of the fastest-growing natural product categories, and this joint
venture is an excellent opportunity to introduce CBD-rich hemp oil
to a wider segment of health-conscious consumers. We are looking
forward to announcing major clients later this month."
Stated Bill Hodson, CEO of LiveWire Ergogenics, Inc., "This
joint venture is an important milestone for LiveWire. By partnering
with the leader in this space, together we will offer the best
tasting, most precise functional foods in this industry."
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
Company's exclusive master distributor and contracted
marketing company. 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
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
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:
Perry Coleman
Medical Marijuana, Inc.
P. 443-453-5088
perry@medicalmarijuanainc.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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