Medical Marijuana, Inc.’s subsidiary and local distribution branch HempMeds® Mexico celebrated the opening of its new local office with a formal ribbon cutting ceremony in Monterrey on June 28th.
Yesterday’s ribbon cutting served to reinforce Medical Marijuana, Inc.’s commitment to ensuring patients in Mexico are able to access the CBD oil on which they depend. Through HempMeds® Mexico, Medical Marijuana, Inc. has been integral in the creation of Mexico’s CBD oil market.
HempMeds® Mexico also revealed the appointment of medical cannabis activist and founder of the Por Grace Foundation Raul Elizalde to lead its operations in Mexico as General Manager. Raul will bring his vast experience in the Mexican cannabis community to the company, assisting in their expansion.
Following a 2015 court ruling, eight-year-old Grace Elizalde became the first patient in Mexico to legally access and use CBD. Raul, Grace’s father, created the Por Grace Foundation to expand access to CBD through advocating for patients, hosting public forums, and meeting with government officials.
In April of 2016, Raul joined President Peña Nieto on stage as the leader announced Mexico’s intention to explore medical cannabis reform. Just this month, Peña Nieto signed off on a comprehensive medical cannabis bill that increases access to therapeutic cannabinoids. This new bill opens up the Mexican healthcare market to the complete line of Medical Marijuana, Inc.’s full-spectrum hemp oil products.
HempMeds® Mexico’s new office will serve as the its hub for the sales, marketing, and distribution of RSHO-X™ to wholesale distributors and patients in Mexico.
Monterrey, where the new HempMeds® Mexico local office is located, is a dynamic, wealthy city with a high concentration of innovative businesses and a highly skilled talent pool. Additionally, Monterrey’s central geographic location will serve as a strategic bridge between South, Central, and North America for San Diego-based Medical Marijuana, Inc.
Medical Marijuana, Inc. President and CEO Dr. Stuart Titus spoke during a press conference that followed the new office’s ribbon cutting. Dr. Titus discussed the importance for HempMeds® Mexico to establish its first office in Mexico.
Dr. Titus’s remarks were followed by Raul, who revealed his plans for the future of HempMeds® Mexico. The company will invest in scientific research in the coming years to prove the efficacy of CBD oil. HempMeds® Mexico will also dedicate resources toward product development to remain the industry leader in innovation. Finally, the company will continue their outreach programs for patients and health professionals to educate them on the benefits of CBD as a treatment option.
The ribbon cutting ceremony was followed by a symposium on CBD and the potential for cannabis to radically transform the way we approach a number of difficult to treat conditions. In attendance was Dr. Carlos Aguirre, who recently published the results of a study revealing the effects of CBD on childhood epilepsy. The symposium attracted over 100 doctors looking to expand their understanding of cannabinoids and their role in patient health.
With its over 120 million residents, Mexico represents a potential $1 to $2 billion cannabidiol (CBD) hemp oil market over the next ten years for Medical Marijuana, Inc. With the recent changes to Mexico’s cannabis laws, HempMeds® Mexico can now diversify their product line to include Medical Marijuana, Inc.’s full-spectrum hemp oil products, as well as the company’s zero-THC RSHO-X™. This is expected to boost the revenue even further from the Mexico market.
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