Global Cannabis Company Expands Supply Chain in Europe through Agreement with Complete Hemp Technologies
SAN DIEGO, CA, Sept. 08, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands, and supply chain, announced today that its subsidiary, Kannaway, has signed a distribution agreement with long-time partner Complete Hemp Technologies (CHT) to expand its capabilities in the European market. The agreement adds warehousing and daily operations to the services that CHT already provides to Kannaway in Europe, providing cost-savings and gross margins improvements in one of the Company’s largest international markets.
The Company has worked with CHT for years to facilitate expansion throughout Europe, leveraging their strong relationships with regulators and industry leading cannabis based product capabilities. CHT will also now provide distribution services eliminating the need to transport product after manufacture as well as fund additional warehouse space and associated labor costs.
“As the first US company to enter Europe with our hemp-based products, we have built long-standing relationships with the region’s most knowledgeable companies and this agreement is a perfect example of that,” said Medical Marijuana, Inc. CEO Blake Schroeder. “It is a win-win for both companies. We will continue to leverage our superior product formulations and brand equity as the original trusted source for quality products, while being supported by a reputable company with a proven track record of success.”
“We are happy to continue to work with Medical Marijuana, Inc. and its family of companies,” said Rafal Modlinski, CEO of Complete Hemp Technologies. “Their dedication to creating quality products and distributing them on a global basis fully aligns with our vision here at CHT. Through this agreement we will be able to expand both our reach and the reach of Medical Marijuana, Inc. and Kannaway products.”