DGAP-News: Medical Marijuana Inc.'s Joint Venture Company, CanChew Biotechnologies, Signs Exclusive Russia/CIS Distributorship
(firmenpresse) - Medical Marijuana Inc.
22.08.2013 15:00
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Annual $2 Million Wholesale Purchase of CanChew Required for Russia and the
Commonwealth of Independent States
SAN DIEGO, 2013-08-22 15:00 CEST (GLOBE NEWSWIRE) --
CanChew Biotechnologies, a joint venture company with Medical Marijuana Inc.
(OTC Pink:MJNA), is delighted to announce that they have signed an exclusive
distributorship agreement with ARITEX AG, a Switzerland-based distributor for
nutraceutical products in Russia and the Commonwealth of Independent States
(CIS).
The contract for the distribution of the patented CanChew cannabidiol (CBD) gum
calls for a minimum of $2 million in annual wholesale purchases by ARITEX AG
for distribution in Russia and the CIS countries of Armenia, Azerbaijan,
Belarus, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and
Uzbekistan. In addition, ARITEX AG is bound to maintain a pre-negotiated
minimum resale price per 32-pack unit that retains price integrity for the
brand. ARITEX AG will also streamline approval and licensing of CanChew
cannabidiol (CBD) gum in those markets. As part of the agreement, CanChew
Biotechnologies will continue to manufacture CanChew gum in the United States.
'The signing of an exclusive, multi-million dollar distribution agreement is a
major milestone and a first for CanChew Biotech,' said George E. Anastassov,
MD, DDS, MBA and CEO of CanChew Biotechnologies. 'This agreement will cover
multiple, diverse territories, providing for excellent exposure for and
presence of our products.'
The Russian nutritional supplement market alone was estimated at $2 billion as
of 2009. (Source: Nutraceuticals World) The global nutraceutical ingredients
market in general is predicted to reach $23.7 billion by 2015, with strong
growth forecasted in Russia, which is expected to have a market share of 24.4%
by 2017. (Source: Nutraceutical Business&Technology)
'We are very excited about the opportunity that CanChew Biotechnologies brings
to the market,' said Faina Stolin, Chief Operating Officer of ARITEX AG. 'I am
very excited to be part of this huge project.'
Our terminology
According to the US government, every product derived from cannabis is
categorized as marijuana--including hemp. We, therefore, use the word
'marijuana' as an all-encompassing term to cover cannabis, medical marijuana,
marijuana and hemp. We believe that 'cannabis' should be the standard term used
for all medical products; as the industry matures, we will be phasing out the
words 'medical marijuana' and 'marijuana' from the company's vocabulary.
About Cannagum Marketing Group
Cannagum Marketing Group, a wholly-owned subsidiary of CanChew Biotechnologies,
was incorporated to sell, market, and distribute CanChew gum. The company was
formed to comply with federal regulations that require the company to clearly
distinguish CanChew gum, a food product sold without claims, from MedChewRX, a
pharmaceutical product that is in development by CanChew Biotechnologies. For
more information, please visit CanChewBiotech.com.
About CanChew Biotechnologies
CanChew Biotechnologies focuses on the treatment of pain and other medical
disorders with the application of chewing gum-based cannabis/cannabinoid
medical products as well as food and nutriceutical products for general
wellbeing.
The company is focused on the R&D and execution of their clinical development
plan and potential out-licensing of their technology. Clinical development
focuses on the R&D of the formulation, production and the development of
chewing gum-based products for the treatment of conditions like pain, nausea
and vomiting, anorexia, spasticity and various other medical issues. For more
information on the company, visit CanChewBiotech.com.
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. 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.
LEGAL DISCLOSURE
Medical Marijuana, Inc. does not sell or distribute any products that are in
violation of the United States Controlled Substances Act (US.CSA). The company
does grow, sell and distribute hemp based products and is involved with
federally legal distribution of medical marijuana-based products within certain
international markets. We use the following names for informational purposes
only, all of which refer to the legal industrial hemp plant: cannabis, canipa,
kanipa, kanna, canna, kanabis, marijuana, medical marijuana, hemp, and
industrial hemp.
FORWARD-LOOKING DISCLAIMER
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.
CONTACT: Corporate contact:
CanChew Biotechnologies
4901 Morena Blvd., Suite 701
San Diego, CA 92117
Toll-Free: 877-770-3838
Fax: 888-651-0349
Email: Info(at)Canchewbiotech.com
www.CanChewBiotech.com
Investor relations contact:
Stuart T. Smith
SmallCapVoice.Com, Inc.
P. 512-267-2430
F. 512-267-2530
Skype: SmallCapVoice.com
AIM: SmallCapVoice7
News Source: NASDAQ OMX
22.08.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Medical Marijuana Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US58463A1051
WKN:
End of Announcement DGAP News-Service
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Themen in dieser Pressemitteilung:
medical-marijuana-inc-s-joint-venture-company
canchew-biotechnologies
signs-exclusive-russia-cis-distributorship
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Datum: 22.08.2013 - 15:00 Uhr
Sprache: Deutsch
News-ID 290135
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