CannaBANK Transfers 2nd Asset to Medical Marijuana, Inc.

March 31, 2011 10:02 ET

SAN DIEGO, CA–(Marketwire – March 31, 2011) – Medical Marijuana, Inc. (PINKSHEETS: MJNA) is proud to announce that it has been assigned a second asset and management contract from CannaBANK. This second debt-free, income producing asset transferred from the Hemp Deposit & Distribution Corp. (HDDC) d/b/a CannaBANK, Inc. services the needs of health and wellness members in the greater Sacramento area. HDDC purchased the facility and invested an additional amount in excess of $750,000 to bring the facility up to CannaBANK standards. The facility is estimated to generate in excess of $4 million in net profits annually. The facility has been fully operational since January 1, 2011. Operations Director Jordanne Brenkwitz stated, “CannaBANK estimates the creation of 28 new, regional positions and anticipates another 23 to be created during the following two years. The transition has allowed the proprietary concepts that MJNA has been incubating to manifest through the power of CannaBANK.”


Medical Marijuana Inc. ( recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion thus opening the door for safe and lucrative investment opportunities.


CannaBANK’s mission is to help create a sustainable economy which in turn helps create a sustainable planet offering health and economic freedom through education and awareness.

CannaBANK™ and the CannaBANK™ logo are registered trademarks of Hemp Deposit & Distribution Corp. (HDDC), d/b/a CannaBANK, Inc. in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word “partner” does not imply a partner relationship between CannaBANK and any other company.


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.