Medical Marijuana Inc (OTCMKTS:MJNA) recently released a video statement from the company CEO, Stuart W. Titus, to highlight the company’s mission and current goals. As per the video statement, MJNA is trying to “inspire positive change through cannabis”. The video statement comes soon after the company was documented in a news article in “Caribbean Business”. The article highlights the efforts of MJNA subsidiary, Kannaway, in educating the residents of Puerto Rico and creating a new market for the industry.
Kannaway’s contribution to Puerto Rico not only established a new market, but also pushed for the legalization of CBD products in the area. Additionally, the company is also the first one to introduce CBD and hemp oil products to investors in the area. However, it should be noted here that Kannaway had long been operating in Puerto Rico and making efforts for the legalization of cannabis and was acquired by MJNA last December. The exact amount of the acquisition was not disclosed, but Kannaway was valued at $243 million at that time.
In his video address, the CEO stated that his company wants to change the cannabis industry, by creating entrepreneurial opportunities. With a handful of states legalizing the use of cannabis, the current US market is valued at $2.7 billion, which could reach $36.8 billion if cannabis is legalized countrywide. In order to achieve its goals of maximizing investment potential in the cannabis industry, MJNA has made a series of acquisitions throughout the country. The company’s efforts have led to the establishment of the largest CBD product pipeline in the world. This includes a number of MJNA’s portfolio companies throughout the US and other countries. Each one of MJNA’s subsidiaries targets a special area in the marijuana industry and works towards educating people and governments on the benefits of cannabis.
Medical Marijuana Inc (OTCMKTS:MJNA) traded 4.6 million shares during the July 13 session, to report a decline of 3.17% in its share value to close at $0.061.