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Medical Marijuana Inc. Signs Definitive Agreement to Acquire Kannaway, LLC
$119.6-242.7 Million Valuation by Houlihan Capital, a Firm That Performed Similar Valuations for U.S. Airways, Inc. and Redbox
SAN DIEGO, Jan. 22, 2015 (GLOBE NEWSWIRE) -- Medical Marijuana, Inc. (OTC Pink:MJNA), a leading industrial hemp industry innovator, is proud to announce that it has signed a definitive agreement to acquire 100% membership interest of Kannaway, LLC. The amount of the sale is undisclosed. The valuation of Kannaway is in the range of $119.6-242.7 million USD. The agreement is expected to take at least 90 days to close and will effectively make the cannabis-based network marketing company a wholly owned subsidiary of the first-ever publicly traded cannabis company.