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| Major News for the Med Marijuana Market and MJNA |
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 Hot Stock to Watch |
Company: Medical Marijuana Inc. (Pink Sheets: MJNA) |
Last:
Price: 0.2918
Change (%): + 0.0118 (4.21)
Volume: 2,864,347 |
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KannaLife Sciences Announces 1.5M Dollar Series A Financing From Medical Marijuana Inc. (OTC:MJNA) And CannaVest Corp. (OTC:FCLS)
NEW YORK, March 7, 2013 /PRNewswire/ -- KannaLife Sciences, Inc. ("KannaLife") the phyto-medical company that specializes in the research & development of pharmacological products derived from botanical sources, announced today the entry into Series A financing totaling 1.5 million dollars.
The investment is led by and Medical Marijuana Inc. (OTC: MJNA) and CannaVest Corp. (OTC: FCLS).
"From KannaLife's exclusive license with NIH to its years in development of standardization in packaging cannabis based products, lends a perfect fit for the Medical Marijuana Inc., family of companies. Particularly, the NIH exclusive license in our opinion is a true industry game changer. Our investment in KannaLife helps further build our pipeline of patented cannabinoid based medical products. In the very near future, it is patents such as this that we believe will determine a company's future success in the cannabis based pharmaceutical industry." - Michelle Sides , Chairman and Chief Operating Officer of Medical Marijuana Inc.
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Illinois Medical Marijuana House Committee Vote: Panel OKs Pot Plan, Full House Vote Next
Hope sparked for Illinois' would-be medical marijuana users after a state House panel approved a measure to legalize the use of weed in medical cases on Wednesday.
With the House Human Services Committee's 11-4 vote, the proposal moves next to the full House for consideration, reports the Telegraph.
Though Wednesday's vote means legal medical weed in the state is one step closer to reality, pro-legalization supporters have been through this before: As the State Journal-Register notes, similar legislation failed in the General Assembly over the years - including the most recent lame-duck session in January.
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Medical marijuana businesses look to Massachusetts for growth opportunities
DENVER - Kayvan Khalatbari rings up more than 1 million dollars in annual sales at Denver Relief, the medical marijuana dispensary he runs out of a downtown storefront, and business keeps getting better.
But rather than opening an additional store, Khalatbari, 29, is expanding in a different direction: He has been devoting more time to doing lucrative consulting work for about 15 fledgling cannabis entrepreneurs who are interested in setting up shop in Massachusetts.
Denver Relief is one of several companies in Colorado - the epicenter of the nation’s medical marijuana industry - eager to capitalize on the expected “green rush” as Massachusetts’ medical marijuana program gets off the ground this year.
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Medical marijuana industry eyes Massachusetts market
While the biggest players in the fast growing medical marijuana industry have mostly adopted a wait and see attitude toward Massachusetts, several companies are actively planning to enter the state by establishing offices and forming strategic partnerships with local residents.
Advocacy groups and industry associations are springing up, and a host of ancillary service providers, such as business consultants and law firms, are already operating at a brisk pace.
The Massachusetts Department of Health (DPH) has until April 1 to create regulations to govern who can use, grow, and sell medical marijuana, under the law which took effect January 1.
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