SAN DIEGO, April 15, 2013 (GLOBE NEWSWIRE) -- Medical Marijuana Inc. (OTC:MJNA), a leading hemp industry innovator, announced that its portfolio company, Red Dice Holdings, LLC brand Dixie Elixirs and Edibles, has completed negotiations with The Cashmere Agency, representative for hip-hop and reggae superstar Snoop Lion. Dixie will co-host the exclusive "green carpet screening" of Snoop Lion's upcoming "Reincarnated" movie premiere on Friday, April 19th, at The Fillmore Auditorium in Denver, Colorado. The premiere coincides with the "420 weekend" events that will take place during that time period.
The upcoming 420 events here in Colorado represent new opportunities for cannabis businesses including our Dixie brand," said Tripp Keber, CEO of Red Dice Holdings. "For the first time in our nation's history, an adult twenty-one years and older can access this powerful plant for whatever purpose he or she deems appropriate. This creates a significant marketing opportunity for our company and Dixie's alignment with the Snoop Lion brand positions us to take full advantage of what Amendment 64 now offers residents of the State of Colorado."
In November, 2012 general election, Colorado voters passed Amendment 64, which in effect legalized cannabis for adult use. Those 21 years or older can possess one ounce of cannabis. Further legislation enactment is likely to allow non-Colorado residents 21 and older to possess up to ¼ ounce.
The Dixie Elixirs and Edibles brand is well positioned to serve both the medical cannabis and adult use markets as Amendment 64 continues to be implemented. Currently, the company offers 12 distinct product lines and delivery systems, featuring over 80 unique products, under the Dixie Classic, Dixie Botanicals and Dixie X umbrellas. Some products include Dixie Ginger Mango Dew Drops, Dixie Botanicals Hemp Salvation Balm and Dixie Elixirs Sparkling Pomegranate. Dixie products are found in the majority of Colorado's 500+ Medical Marijuana Centers (MMCs).
The adult use market for cannabis in Colorado and Washington is expected to grow substantially. According to http://www.mmjbusinessdaily.com, "In 2014, the emergence of cannabis retail stores in Colorado and Washington could generate roughly $1 billion in state-legal cannabis sales during the first full year of operation."1
When taking into account the 600,000+approximately 58 million tourists that visit Colorado each year , the adult market for cannabis consumption should increase by a factor of ten-fold.2
Keber added "We are excited to participate alongside a world-class performer to celebrate the forthcoming 420 event, and we intend this to be the first of many campaigns to leverage this ever-growing segment of the cannabis industry."
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.
Medical Marijuana Inc. does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.
For more information, please visit the company's website at: www.MedicalMarijuanaInc.com.
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 (FDA). These products and statements are not intended to diagnose, treat, cure, or prevent any disease.
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