SAN DIEGO, CA - (NewMediaWire) - June 26, 2024 - Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), announced today that Kannalife Sciences, Inc. (Kannalife"), a wholly-owned subsidiary of the Company's portfolio investment company Neuropathix, Inc., a pioneering biotech company specializing in the development of small molecule synthetic cannabinoid therapeutics targeting inflammation, was awarded grant funding of $1.49 million for its Parkinson’s research using its Cannabinoid Therapeutic KLS-13019. The Company owns approximately 22% of Neuropathix.

Read the full Press Release here: https://www.globenewswire.com/news-release/2024/06/25/2903784/0/en/Kannalife-Secures-Funding-of-1-49-Million-from-The-Michael-J-Fox-Foundation-for-Parkinson-s-Research.html

Medical Marijuana, Inc. Chairman and CEO, Tim Scott, commented on the news; "We are one of Neuropathix’s largest shareholders and the securing of this grant to its wholly-owned subsidiary Kannalife is a very welcome development. We believe that Kannalife's proprietary cannabinoid therapeutic KLS-13019 has the potential to show efficacy in preclinical studies and subsequently move into more meaningful clinical trials to be tested as an effective treatment for Parkinson's Disease. If such potential for KLS-13019 were to be realized, we believe it would have a significant impact on the value of the Company’s investment portfolio given its large ownership stake in Kannalife's parent company, Neuropathix. Accordingly, we're very excited that the grant funding will provide Kannalife with the ability to conduct Parkinson's research using KLS-13019."  

ABOUT MEDICAL MARIJUANA, INC.

Medical Marijuana, Inc. (OTCMarkets: MJNA) manufactures and distributes natural health, beauty and hemp-derived cannabidiol (CBD) products via e-commerce, direct sales, retail and wholesale distribution channels throughout the world. The Company operates primarily through three divisions: Medical Marijuana, Inc., HempMeds®, and Kannaway®.

Medical Marijuana, Inc.

Medical Marijuana, Inc. is the parent company of all operating divisions and operates a website to maintain an online presence, provide corporate, investor relations and educational information and news relating to the Company and its operations.

HempMeds®

HempMeds® distributes CBD products directly in the US and through wholly owned subsidiaries internationally (primarily in Mexico and Brazil). Distribution is accomplished via its online presence and its sales staff.

Kannaway®

Kannaway® is the Company’s direct selling division which started in 2014 and was the first Cannabis based direct selling company. Kannaway is the Company’s largest division and sells the Company’s Natural Health and CBD products worldwide, including, but not limited to the US, Europe, and Asia.

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.

FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE:

These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent 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 or any state or federal law.

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