Posted on

Judges ruling for cbd oil

Medical Marijuana, Inc. Subsidiary Kannaway® Celebrates Recent Federal Court Ruling on Delta-8 THC; Launches New Hemp Products

SAN DIEGO, CA, May 31, 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 it applauds the Ninth U.S. Circuit Court of Appeals for deeming Delta-8 THC, a compound found in hemp, to be federally legal under the 2018 Farm Bill.

In celebration of this announcement, Kannaway®, a cannabis industry leader for more than 12 years, continues to expand its line of hemp-derived products with a new Delta-8 Liquid and Delta-8 Gummies. Delta-8 THC is a naturally-occurring cannabinoid found in the hemp plant, and new studies show that it may provide users with a variety of unique wellness benefits.

The Ninth Circuit’s ruling is great news for the industry and Kannaway® because there has been significant consumer interest in this hemp compound in recent years, and analysts predict that Delta-8 THC products could become the fastest-growing segment of the “hemp-derived” products market. According to The Brightfield Group, social listening data shows online conversations about Delta-8 grew 163% from December 2020 to April 2021.

“The 2018 Farm Bill made it clear that hemp with a THC level of less than 0.3% is federally legal,” said Medical Marijuana, Inc. CEO Blake Schroeder. “As the creator of the world’s first cannabidiol-based product, we are proud of our accomplishments and the clarity that the Farm Bill provides. We applaud the Ninth Circuit for its decision which correctly applied the Farm Bill language to Delta-8. As a leader of innovation in the industry, allowing free access to all legal cannabinoids is something we celebrate, and we are excited about our new Delta-8 products.”

See also  Cbd oil high potential for abuse

To learn more about these products, please visit https://kannaway.com/.

About Kannaway®

Kannaway® is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway® currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunities to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.

About Medical Marijuana, Inc.

We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company’s flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.

Medical Marijuana, Inc.’s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.’s corporate video, click here.

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.

See also  Is cbd oil effective for arthitis

FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE

These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.

LEGAL DISCLOSURE

Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.

CONTACT:
Public Relations Contact:
Kathryn Brown
Account Director
CMW Media
P. 858-221-8001
[email protected]
www.cmwmedia.com

Investor Relations Contact:
P. (858) 283-4016
[email protected]

Judge’s ruling temporarily makes delta-8 THC legal in Texas

TEXAS — On Oct. 15, the Texas Department of State Health Services updated its website to state that delta-8 THC is illegal in Texas.

The move came as an unwelcome surprise to CBD store owners as well as delta-8 users across the state.

That sparked a lawsuit challenging the legality of the move by businesses that sell delta-8 products, including Austin’s Hometown Hero.

What You Need To Know
  • A district judge on Monday granted a temporary injunction allowing delta-8 THC products to again be sold in Texas
  • Ruling comes after the Texas Department of State Health Services updated its website to state the compound is illegal in the state. That prompted a lawsuit by delta-8 providers
  • It’s anticipated the issue will go to trial beginning on Jan. 28, 2022
  • Delta-8’s popularity has soared recently and states have been grappling with its legality

On Monday, Travis County district Judge Jan Soifer granted a temporary injunction against DSHS and its commissioner, John Hellerstedt, that will allow those hemp-derived products to be placed back on shelves for the time being. A trial is anticipated to start on Jan. 28, 2022.

See also  Cbd oil for parkinson's hallucinations

“Plaintiffs have shown a probable right to declaratory and injunctive relief because Commissioner Hellerstedt’s action amending the definitions failed to meet the requirements found in in § 481.034 of the Texas Health & Safety Code, and DSHS’s rule as stated on its website concerning Delta-8 failed to comply with the rule making requirements found in the APA,” court documents state.

Delta-8 THC is regarded as a chemical cousin of marijuana’s main intoxicating ingredient, and as its popularity has soared, states have been reckoning with its legality.

The chemical is billed as producing a milder high than the better known delta-9 THC, and delta-8 is often marketed as being legal even where marijuana is not. That argument stems from the fact that most delta-8 is synthesized from CBD, a popular non-intoxicating chemical that’s prevalent in hemp, a form of cannabis that Congress legalized in 2018.

There are no hard-and-fast statistics on sales of delta-8, which is available in vapes, gummies and other forms. It has been the fastest-growing segment of the market for hemp chemicals for roughly the last year, after wholesale CBD prices plummeted amid oversupply and other issues, says Ian Laird of data analytics company Hemp Benchmarks.

Related Stories

The DSHS update came as a blow to Texas business owners. Spectrum News 1 recently spoke with Zachary Maxwell, the president of Texas Hemp Growers. At the time, he said that delta-8’s rising popularity was a boon to the state’s hemp industry.

“Delta-8 isn’t made in grow rooms or on farms. It’s actually synthesized in the labs that create the CBD oil that we’re all familiar with. When those labs are able to sell more oil to the marketplace, it means they’re more prone to buy from hemp farmers in this state,” said Maxwell.