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San Diego, CA – 
today that it has appointed Blake Schroeder as Chairman of the Board and named
him as Chief Executive Officer and President of the Company. Mr. Schroeder
replaces Dr. Stuart Titus in those roles. Dr. Titus resigned from these
positions in order to move towards semi-retirement. Dr. Titus will continue to
serve the Company in a consulting role as an exclusive spokesperson, product expert
and cannabis educator for the Company under a multi-year contract.
“I am
very pleased to see the Board of Directors select Blake for his new positions
as I move towards semi-retirement,” said former Chairman and CEO Dr.
Titus. “Blake has been the team leader over the Company’s entire
operations and responsible for fostering the re-emergence and growth of our
company since coming on board with us in March 2016. The Company is in very
good hands with him at the helm. I’m also very excited to remain in my
role as spokesperson, product expert and cannabis educator for the
Company. On a personal note, I am honored to have had the opportunity to
be CEO of Medical Marijuana, Inc. and look forward to my continued role.
Since our group founded this industry in 2011 my vision for CBD has
become a reality with the amazing acceptance by the general public as well as
the medical community. I continue to believe that almost everything in
this industry remains at an early-stage, ground-floor level.”
“I am
honored to take on these positions within our Company,” said Chairman and CEO
Blake Schroeder. “This is and always has been a ‘Company of Firsts’ and we owe
much of our pioneering in the area of product development, market education and
market acceptance of non-psychoactive cannabis products to the knowledge and
insight of Dr. Titus. His continued role as our spokesperson is especially
positive for the Company.”
During his
time at the Company, Mr. Schroeder’s key contributions include international
market development, financial performance management, product development,
rebranding efforts, and operational development of the Company as a whole.
Since Schroeder became CEO of Kannaway®, the Company’s revenue has grown
from $2 million in annual sales to nearly $70 million in
annual sales in 2019.
Mr. Schroeder
has extensive business experience in the nutrition industry ranging from legal
and regulatory insight to overseeing all aspects of global sales, product
development, marketing, distribution, and operations. His legal and operations
experience includes overseeing development of businesses in Europe, Russia,
Israel, Brazil, Mexico, and Japan. Mr. Schroeder has operated businesses in
countries around the globe, and extensively in North America, South America,
Europe and the Middle East.
Dr. Titus’
resignation from his Board and officer positions was not the result of any
disagreement with the Company.
About
Medical Marijuana, Inc.
We are a company of firsts®.
Medical Marijuana, Inc. (MJNA) is a cannabis
company with three distinct business units in the non-psychoactive cannabinoid
space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®;
a pioneer in sourcing the highest-quality legal non-psychoactive cannabis
products derived from industrial hemp; and a cannabinoid-based clinical
research and botanical drug development sector led by its pharmaceutical
investment companies and partners including AXIM® Biotechnologies, Inc. and Neuropathix.
Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana,
Inc. was also the first company to receive historic import permits for CBD
products from the governments of Brazil, Mexico, Argentina, and Paraguay and is
a leader in the development of international markets. The company’s flagship
product Real Scientific Hemp Oil has been used in several successful
clinical studies throughout Mexico and Brazil to understand its safety and
efficacy.
The
Company’s headquarters are in San Diego, California, and additional information
is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical
Marijuana, Inc.’s corporate video, click here.
Shareholders
and consumers are also encouraged to buy
CBD oil and other products at Medical Marijuana, Inc.’s shop.
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.
FOOD AND
DRUG ADMINISTRATION (FDA) DISCLOSURE
These
statements have not been evaluated by the Food and Drug Administration. This
product is not intended to diagnose, treat, cure, or prevent any disease.
LEGAL
DISCLOSURE
Medical Marijuana,
Inc. does not sell or distribute any products that are in violation of the
United States Controlled Substances Act.
CONTACT:
Public
Relations Contact:
Kathryn
Brown
Account
Supervisor
CMW Media
P.
858-264-6600
kathryn@cmwmedia.com
Investor
Relations Contact:
P. (858)
283-4016
Investors@medicalmarijuanainc.com
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