Longtime Cannabis Industry Veteran and Wall Street Finance Expert ‘Humbled’ to Take the Helm of the First-Ever Publicly-Traded Cannabis Company
SAN DIEGO, March 18, 2015 (GLOBE NEWSWIRE) — Medical Marijuana, Inc. (OTC Pink:MJNA), a leading industrial hemp industry innovator, is proud to formally announce the appointment of cannabis industry veteran and finance expert Dr. Stuart Titus as President and Chief Executive Officer, along with the appointment of four new members of the Board of Directors.
“I’m excited and humbled to accept the role as Medical Marijuana, Inc.’s President and Chief Executive Officer,” states Mr. Titus. “I have watched the company grow from a startup with a world of possibilities, to a trend-setting leader that has developed some of the world’s most widely known and consumed cannabis products, including the launch of the world’s first cannabidiol (CBD) consumer product line. These products started a revolution in the hearts and minds of so many. The thing I have been most touched and humbled by is hearing from family members of our shareholders and consumers about how the company and its products have helped improve their quality of life and changed how they felt about cannabis-based products and their current regulatory status. I may have been the seventh investor in Medical Marijuana, Inc., but now I am one of nearly 200,000 active shareholders who hold the same values and promise for this company and industry that I do.”
New Appointments to Medical Marijuana, Inc.’s Board of Directors
In addition to his officer role, Dr. Titus was appointed as a Member of the Board of Directors. The company also announced several new additions to the Board of Directors. Those appointments include:
Stuart Titus, Ph.D.
President and Chief Executive Officer
Member, Board of Directors
Dr. Stuart Titus, Ph.D., is an industry icon and innovator, having been involved in all aspects of the medical marijuana and industrial hemp industries, Dr. Titus was the number seven investor in Medical Marijuana, Inc., having invested in its seed financing. Dr. Titus has been involved in the development and investment of several industry-leading cannabis and industrial hemp businesses. Dr. Titus is the co-founder and President of General Hemp, LLC which with Titus at the helm has managed the emergence and growth of several other companies, including CannaVest, KannaLife Sciences Inc. (Board Member) and KannaWAY. Dr. Titus’ expertise in finance was forged on Wall Street, where he worked as a bond trader for 11 years, managing a trading and underwriting department as a V.P. for CS First Boston Corp. Dr. Titus also has a unique background in health. Post-Wall Street he worked as a British Physiotherapist for over 15 years, having run clinics that specialized in integrative pain management and injury rehabilitation, which treated over 40,000 patients. Dr. Titus is active in the medical community with specific interest in electro-physiotherapy as well as in anti-aging medicine. He holds a Fellowship with the American Academy of Pain Management and clinical association with the American Association of Integrative Medicine. Dr. Titus has unique first-hand experience with hemp oil products as nutritional supplements, having found great relief from Lyme’s disease symptoms after beginning a regimen of high-concentration CBD therapeutic hemp products. Dr. Titus is a graduate of Rollins College in Winter Park, Florida, where he majored in Economics and minored in Business Administration. He earned his Ph.D. degree from the Open International University, which is a World Health Organization (WHO) chartered affiliate.
Robert L. Cunningham
Member, Board of Directors
Robert “Bob” Cunningham has over 40 years of executive management experience in financial services and venture capital. He currently is CEO of Preferred Dealer Programs (PDP), a venture-funded partnership with Crosscheck Inc., one of the nation’s largest check guarantee and alternate banking firms. Prior to joining PDP, Mr. Cunningham was the founding partner in Placer Financial Group, a nationwide mortgage and real estate development company. Mr. Cunningham also served as Trustee for the U.S. Dept. of Justice, and as a member of the board for numerous firms, including Allied Commercial Corporation, Vermillion Development, Pacific Building Industries Corporation, and Bond HD Hospitality Group.
Member, Board of Directors
Chris Prine has been CEO of Prines Lines since 1994, which acts as a manufacturers’ representative for five U.S. furniture-manufacturing companies with distribution worldwide. Mr. Prine has an intrinsic understanding for the world of manufacturing and distribution. From 1988 to 1994, Mr. Prine served as Marketing Director for the Cleator Corporation, an office furniture manufacturer. From 1986 to 1988, Prine served as San Diego’s Old Globe Theatre’s Director of Marketing, and from 1983 to 1985 Mr. Prine served as Audience Development Manager for the Old Globe Theatre. Mr. Prine is an industry advocate and San Diego community leader.
Dr. Timothy R. Scott, Ph.D.
Member, Board of Directors
Dr. Timothy Scott brings years of public and private enterprise board-level management experience. Dr. Scott served on the Board of Directors of NatureWell Incorporated, a publicly traded company engaged in the nutraceutical and homeopathic drug industry from September 2001 to May 2008. From April 1998 to June 2000, Dr. Scott served as a member of the Board of Directors of ICH Corporation, an American Stock Exchange-listed company, and as a member of ICH’s compensation committee. ICH Corporation owned 265 fast food and family dining restaurants with approximately $265 million in revenues and 7,800 employees. Dr. Scott currently serves as Chairman of the Board of Directors, President and Senior Pastor of a 1,200-member church located in San Diego, California, and as Chairman and President of Project Reach World, Inc., a 501(c)(3) charitable organization.
Michelle Sides Esq., Chairman of the Board and Chief Operating Officer stated: “Through considerable time and extensive efforts, we are very excited about the new additions to our executive team and to the Board of Directors. We have been fortunate to attract a group of successful and highly qualified individuals, which bring impressive and extensive business experience that will benefit the company and our industry. These individuals possess a sincere belief in our objectives and are dedicated to achieving our goals. The company has spent years developing our products and educating the world on their potential, now is our time to share with the world our portfolio of products and services. As always, I would like to thank our shareholders and our team for their dedication and commitment to our company and industry.”
About Medical Marijuana, Inc.
Our mission is to be the premier hemp industry innovator, 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. For more information, please visit the company’s website at: www.MedicalMarijuanaInc.com.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
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.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). The Company does grow, sell and distribute hemp-based products and are involved with the federally legal distribution of hemp-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
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