Market Study Set for Release at Conference Pegs Euro Market Potential for Cannabidiol (CBD) at €2 Billion
SAN DIEGO, CA – May 25, 2016 – Medical Marijuana, Inc. (OTC: MJNA) today announced that at the 13th Annual Conference of the European Industrial Hemp Association (EIHA) — where two major market studies are set to be released showing an expected double digit market growth and a €2 billion market potential in Europe for Cannabidiol (CBD) — Medical Marijuana, Inc. CEO Stuart Titus will speak on how the Company is innovating to take advantage of the burgeoning hemp market. HempMeds, a subsidiary of Medical Marijuana, Inc., will also be exhibiting at the Conference.
Taking place on June 1-2 at the Rheinforum Kolner in Wesseling, Germany, near Cologne, EIHA is expected to bring in at least 250 industry professionals from more than 40 countries to learn about the latest developments concerning industrial hemp and other natural fibers, as well as hemp oil, proteins and pharmaceuticals.
“This is an exciting, yet critical time for the hemp industry,” said Dr. Titus. “I’m thrilled with the opportunity to speak to fellow industry professionals and decision makers from across the globe about how we can work together to increase public and governmental awareness of hemp industry benefits to ensure an expanding market.”
According to the “Market Study on Hemp Food” and the “Market Study on Cannabidiol (CBD),” a double digit growth rate is expected within the fast-growing hemp food market and the potential for CBD in Europe is estimated at €2 billion if used as a medicine for chronic diseases and a minimum of €24 million if used as over-the-counter medicine. In 2015, industrial hemp grew in the European Union to a cultivation area of 25,000 ha from 8,000 ha in 2011.
“Europe has always been a global hub for the rapidly growing hemp industry,” Dr. Titus added. “In fact, all of Medical Marijuana Inc.’s natural, botanical hemp sourced for our CBD hemp oil products such as Real Scientific Hemp Oil™ (RSHO™) comes from generational European farmers. CBD can benefit the European Union and the world in many ways, from the health and wellness of its people to enormous economic opportunities.”
Currently, Medical Marijuana, Inc.’s RSHO™ products are shipping to more than 40 countries, including Puerto Rico, Brazil and Mexico for medical indications ranging from epilepsy to chronic pain (including migraines).
Dr. Titus will present, “The European Union and Medical Marijuana, Inc.: A Natural Partnership” on Thursday, June 2, at 5:20 p.m. Key topics covered will include:
- A brief history of medical cannabis
- The current burgeoning marketplace
- Future market potential of CBD
- Medical Marijuana, Inc.’s leading role
Legal Notice: Due to current United States government regulations, Medical Marijuana, Inc. and its subsidiaries do not make any medical claims about their products, nor are any approved for the treatment of any medical indications. Real Scientific Hemp Oil™ (RSHO™) is a full-spectrum, hemp-based cannabidiol (CBD) oil. Specific regulations for import of hemp CBD oil are required in countries including ANVISA in Brazil and COFEPRIS in Mexico.
HempMeds® offers mainstream marketing, sales, customer service, and logistics for the cannabis industry. HempMeds® is a corporate portfolio company of Medical Marijuana, Inc. (OTC Pink: MJNA) and the Company’s exclusive master distributor and contracted marketing company. In addition to handling sales and distribution, HempMeds® is the communication hub for the Medical Marijuana Inc. portfolio of companies.
About Medical Marijuana Inc.
The mission of Medical Marijuana, Inc. (OTC Pink: MJNA) is to be the premier hemp industry innovator, 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. For more information, please visit the company’s website at: www.MedicalMarijuanaInc.com.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
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.
Medical Marijuana Inc. and HempMeds do not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.