Major New Worldwide Production to Add to Cannabinoid Reserves for Product Expansion of CBD, CBG and Host of Hemp Derived Terpenes; PhytoSPHERE Systems Announces Creation of US Hemp Oil Corp -Its Pet Product Line- Cibdex and Skin Care Line -Cibaderm- to be Introduced Later in the Year
SAN DIEGO, June 18, 2013 (GLOBE NEWSWIRE) — Medical Marijuana Inc. (OTC:MJNA) and PhytoSPHERE Systems are pleased to inform shareholders and the general public that the company has expanded hemp production significantly. With the expansion, the company has increased production of the industry’s first natural pharmaceutical-grade CBD-rich oils and derivatives. The increased capacity to 6,000 tons of raw base material from 2,000 tons will make PhytoSPHERE Systems one of the largest hemp production companies in the world.
PhytoSPHERE Systems has recently created US Hemp Oil Corp, which is currently developing the Pet industries first CBD-based Pet Care product line- “Cibdex” as well as an exclusive CBD-cannabinoid Skin Care Line aptly named “Cibaderm”.
Increase of Hemp Production to an estimated 6,000 Tons for 2013 Harvest
PhytoSPHERE Systems has informed shareholders that the company has added 4,000 tons of raw hemp to the present production capabilities of 2,000 tons. The increase in hemp based raw materials increases the company’s production capabilities of CBD-rich oils as well as allows the company to increase its production of other cannabinoid rich hemp oils such as Cannabigerol (CBG). Furthermore, this production increase is expected to add the equivalent of 450 tons of Cannabinoid-rich hemp oil to overall reserves- an increase of 300 tons. With the recent licensing agreement with CannaVest Corp the opportunity was created for this increased production which in turn lowered the overall cost of the raw ingredients significantly. These costs savings will eventually lead to lower sales prices for finished goods for consumers.
PhytoSPHERE to Invest in Hemp Harvesting and Product Equipment
PhytoSPHERE Systems, in order to keep up with expanding worldwide hemp production, has announced the company will invest in a series of new hemp harvesting and production equipment. This will allow for the added in-ground production to be processed and handled in an efficient manner while keeping the integrity of the supply chain intact and increasing the quality of the production.
PhytoSPHERE to Expand Product Capabilities into Pharmaceutical Market
PhytoSPHERE Systems has additionally announced that it will expand production of cannabidiolic acid (CBD-A) and various terpenes/terpenoids in line with increased demand from pharmaceutical companies and research bodies. PhytoSPHERE will also start to produce significant quantities of a second cannabinoid—cannabigerol (CBG). These simultaneous developments will enable the company to explore additional combinations of products within new and expanding product lines. Research has shown that combining various cannabinoids and terpenoids have increased the overall effects of a single component cannabinoid product. This effect has been coined the “Entourage Effect”. The company is positioning itself to supply large quantities of naturally derived cannabinoids, terpenesterpenoids to the pharmaceutical industry as an additiveenhancing ingredient to their current product portfolio’s whereby making the products have the “Entourage Effect” or be more effective against the companies target demographic.
PhytoSPHERE Systems US-Based Operations Expanding
PhytoSPHERE Systems expanded their US-based operations with the increase of its office, warehouse and laboratory operations with new leases in San Diego California and Las Vegas Nevada. The company is still actively recruiting and hiring new team members in customer services and sales.
PhytoSPHERE Announces the Creation of US Hemp Oil- as well as Fitness, Pet and Skin Care Lines
PhytoSPHERE has formed a new entity US Hemp Oil Corp. US Hemp Oil is focused on the development and production of hemp based products, including hemp protein products, hemp seed oil, hemp based omega products. The company also formed two additional business units Cibdex and Cibaderm. Cibdex is the world’s first hemp CBD-based Pet product line and Cibaderm is exclusively focused on CBD and other Cannabinoid rich skin care products. The company expects to launch its full line of products over the course of 2013.
“The industry is expanding quickly, research in the area of cannabinoids and terpenes are on the forefront of an industry shift. By the expansion of hemp based raw materials for specialty hemp oil and compounds, the company continues to be an industry leader and innovator. We are extremely proud of the position of the company and look forward to seeing our businesses mature as the industry does. I would like to thank our shareholders for their continued support and the support of our dedicated team.” Said Michelle Sides, Chairman and COO of Medical Marijuana Inc.
About PhytoSPHERE Systems
PhytoSPHERE Systems is a global phyto-cannabinoid biotechnology company based in San Diego, California with operations on several continents. The company utilizes advanced cultivation methods and state-of-the-art processing technology leading to development of pharmaceutical, nutraceutical and food products.
For more information on PhytoSPHERE, visit: www.phytospheresystems.com
About Medical Marijuana, Inc.
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. For more information, please visit the company’s website at: www.MedicalMarijuanaInc.com
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.
Tel: 888-OTC-MJNA (888-682-6562)
Cannavest Corp. Contact:
Investor Relations Contact:
Stuart T. Smith