As we march inexorably toward the blossoming of the Canadian market as a full legal recreational marijuana market, Medical Marijuana Inc (OTCMKTS:MJNA) is one of the outsiders working to gain a foothold on that action, and taking some very interesting steps at this point toward that end. As a case in point, the company just announced that it has signed a non-binding Letter of Intent with Salvation Botanicals, Ltd., to bring its internationally recognized cannabis products to the quickly growing Canadian cannabis market.
“We are honored to bring the Medical Marijuana Inc. products and research pedigree to the Canadian market,” said Salvation Botanicals CEO Cliff Wiltshire. “Our companies have pioneered the industry on either side of the border and we welcome the opportunity to bring our common vision closer together. We share a commitment to delivering the highest-quality products and bringing the benefits of cannabis to the market.”
Medical Marijuana Inc (OTCMKTS:MJNA) casts itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.
MJNA’s subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products
MJNA licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products, sportswear and more.”
According to company materials, “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.”
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Traders will note roughly flat action during the past week in terms of shareholder gains in the name. Moreover, the listing has benefitted from a jump in recent trading volume to the tune of 17% above the average volume levels in play in this stock over the longer term.
“We’re excited to announce this collaboration with a company that is known for dedication to the production of trustworthy and reliable cannabis-based products,” said Medical Marijuana, Inc. CEO Stuart Titus. “We feel confident that the company’s analytics and science focus will provide us with the best products available in Canada.”
Titus continued, “We’re also excited to expand our product offerings from exclusively CBD products to now include tetrahydrocannabinol (THC) products as well, giving us the opportunity to utilize the entire cannabis plant and its many beneficial cannabinoids.”
Now commanding a market cap of $324M, MJNA has a significant war chest ($4M) of cash on the books, which is balanced by virtually no total current liabilities. MJNA is pulling in trailing 12-month revenues of $33.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 191.6%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $MJNA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MJNA, either long or short, and we have not been compensated for this article.