SAN DIEGO, July 14, 2015 (GLOBE NEWSWIRE) -- Medical Marijuana, Inc. (OTC Pink:MJNA), an industrial hemp industry innovator and investor, is proud to announce that through its partnership with HempMeds Brasil™, import taxes are now waived on shipments of Real Scientific Hemp Oil™ (RSHO™) with ANVISA registration and documentation. The Brazilian government ruling is in effect as of July 13.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=34446
To date, RSHO was the first product to receive Brazilian government approval for import, government subsidized status, and government insurance rebates.
Hemp is widely regarded as a "whole food" and "super food." MJNA's cannabidiol (CBD) hemp oil is derived from the mature stalk of the hemp plant and is considered a food nutrient delivering the benefits of cannabinoids without the psychotropic/euphoric effects of THC. Although CBD hemp oil products from MJNA are readily available in and ship to all U.S. states, territories, and districts, hemp oil products are handled quite differently in Brazil.
Until recently, the Brazilian government treated anything derived from cannabis – even hemp – as illegal and, therefore, a controlled substance. In a series of landmark rulings, the Brazilian government began permitting the importation of hemp CBD oil products – including RSHO – with registration by the Federal government agency ANVISA. The Federal government agency also removed CBD from its prohibited substance use list.
In the latest ruling by the Brazilian government, as stated in a translated article by Globo: "The IRS changed the ordinance 156, 1999 change published in the Official Gazette on Monday. The new rule extends to international air parcels transported by express delivery company. In practice, the drug will be delivered to the domicile of the importer without the payment of federal taxes." This decision further increases accessibility and affordability to Brazilian residents.
"We applaud the government of Brazil for making this historic decision to eliminate as much as 60% of import taxes on imported CBD products such as Real Scientific Hemp Oil," said Dr. Stuart Titus PhD, the CEO of Medical Marijuana, Inc. "Over the last several years, we have also been working to reduce prices and make CBD hemp oil products more affordable on a global scale."
"We have been working tirelessly with government officials, ANVISA and transportation companies in order to streamline the importation and distribution of RSHO," Titus added.
HempMeds Brasil™ has confirmed that residents in Brazil who are unable to pay for hemp CBD oil products are receiving financial assistance from the Brazilian government or insurance to subsidize the cost of imported CBD hemp oil products.
Titus continues, "The Brazilian government has been working quickly and with compassion for its citizens. We are extremely impressed and very grateful for this latest ruling; it helps our Company achieve cost reduction while empowering the people of Brazil with immediately more affordable access to CBD hemp oil products including RSHO."
"We're very proud of our entire team's efforts to accomplish this historic change for the people of Brazil," Titus added. "This is why our team works so tirelessly every day."
During the process of acquiring the government approval to import, now with the import tax eliminated, Medical Marijuana, Inc. has also helped subsidize people in need in Brazil, trying to get the product to residents that needed RSHO and couldn't afford it.
MJNA's flagship CBD hemp oil product RSHO™ has captured headline news in Brazil from news agencies including:
http://www.ambito-juridico.com.br/site/?n_link=visualiza_noticia&id_caderno=20&id_noticia=130750
http://www.usp.br/aun/exibir.php?id=6911&edicao=1208
The Company is committed to consistently providing the highest-quality CBD hemp oil products on the market.
For details on Medical Marijuana, Inc.'s portfolio and investment companies, visit www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.'s video statement, click here.
About HempMeds Brasil and LLC
HempMeds PX, LLC HempMeds® is a corporate affiliated company of Medical Marijuana, Inc. (OTC Pink:MJNA) and is its exclusive distributor of RSHO™. HempMeds Brasil™ offers specialized marketing, sales, customer service, and logistics to supply natural hemp oil rich in CBD to the medical community and families of Brazil. For more information on HempMeds Brasil™ and their all-natural hemp oil products, visit: http://www.hempmeds.com.br. The Company invites the public to get involved in the conversation on the expanding cannabis industry with HempMeds Brasil™ through the Company's social media channels Facebook, Twitter and blog.
About Medical Marijuana, Inc.
Our mission is to be the premier 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.
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.
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.
LEGAL DISCLOSURE
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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