Medical Marijuana, Inc. and its subsidiary HempMeds® Mexico featured prominently in a Huffington Post article detailing Mexico’s recent legalization of medical cannabis in the country.
Mexico legalized medical cannabis on June 19, 2017, when President Peña Nieto signed into law a comprehensive new medical cannabis policy. The bill first passed the country’s senate last December by a vote of 98-7. It then headed to the Chamber of Deputies, where it passed on April 28th by a vote of 374-7. This policy shift comes after extensive public debate over the future of medical cannabis in Mexico.
President and CEO of Medical Marijuana, Inc. Dr. Stuart Titus was quoted in the piece, saying, “We want to congratulate the State of Mexico’s government for this historic purchase of our CBD products to help relieve the suffering of its citizens. The plethora of benefits of medical cannabis to treat several types of indications is undeniable, and we are encouraged to see not only health professionals, but also now governments, are becoming increasingly interested in how CBD hemp oil can help heal.”
As the first company to have CBD oil products imported into Mexico, the Huffington Post article reveals how HempMeds® Mexico is in a unique position to capitalize on the country’s new medical cannabis law. According to the article, “Early estimates project Mexico’s emerging cannabis industry could generate sales between $1 billion and $2 billion over the next 10 years. This comes out to roughly $100 to $200 million each year.”
Earlier this month, HempMeds® Mexico became the first company to have a cannabis product subsidized by the government in Mexico when the State of Mexico purchased the company’s RSHO-X™ for 11 Mexican citizens.
Read the full Huffington Post article HERE.