It’s not really surprising for readers to hear that we still aren’t huge fans of Medical Marijuana Inc (OTCMKTS:MJNA). However, the stock is not without promise, especially given the remarkable performance of other names in the CBD and cannabis space over the past 2-3 months. To make matters perhaps far more interesting, the company just announced that it has launched its newest brand, Dixie Botanicals Canada, partnering with Canadian extraction and formulation company Salvation Botanicals, Ltd.
According to the release, “Dixie Botanicals Canada will be introducing its line of cannabidiol (CBD)-only, consumer-friendly products to the recently legalized Canadian cannabis market. All Dixie Botanicals Canada products are crafted using expertly cultivated and scientifically-extracted cannabis oil and will be available in a variety of delivery methods including liquids, capsules, and oral sprays.”
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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As noted above, MJNA just announced that it has launched its newest brand, Dixie Botanicals Canada, partnering with Canadian extraction and formulation company Salvation Botanicals, Ltd.
“The company is pleased to be launching this well-known and highly-regarded brand to such a promising market,” said Medical Marijuana, Inc. Chief Executive Officer Dr. Stuart Titus. “Dixie Botanicals Canada now offers a collection of innovative, high-quality products while consistently meeting their ever-growing customers’ needs.”
In all, recent action has seen -2% stripped out of share pricing for the stock in the past week. In addition, the company has registered increased average transaction volume recently, with the past month seeing 49% beyond its prior sustained average level.
“Medical Marijuana, Inc. will continue to be a company of firsts by being one of the first companies to work with one of Canada’s premium manufacturers to bring innovative products to market,” said Medical Marijuana, Inc. Director of Canadian Operations, Kenneth Smith. “We are excited the see the many opportunities this new market brings and the many people who were able to help get access to CBD through this new brand.”
Now commanding a market cap of $286.38M, MJNA has a significant war chest ($3.8M) of cash on the books, which is balanced by about $2.1M in total current liabilities. MJNA is pulling in trailing 12-month revenues of $42.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 159.5%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.