Medical Marijuana, Inc. (OTCMKTS:MJNA) announced on October 04, 2022, that it has signed an Asset Purchase Agreement with MFINITY Global LLC, a direct-selling organization focused on promoting natural health and a rewarding sales model.
Trading Data
On Tuesday, MJNA stock ended flat at $0.0113 with 4.13 million shares, compared to its average volume of 4.46 million shares. The stock moved within a range of $0.0111 – 0.0114 after opening trade at $0.0111.
Medical Marijuana, Inc. Enters Into Asset Purchase Agreement With MFINITY Global LLC; Appoints MFINITY President as Kannaway President
Additionally, Bill Andreoli, the President of MFINITY Global is all set to assume the role of President of Medical Marijuana, Inc. subsidiary, Kannaway, LLC. The MFINITY product line includes Muscadine, a powerful antioxidant that provides many wellness benefits. The products will be marketed and sold exclusively under the Kannaway brand. They are now available for sale through Kannaway independent distributors and on Kannaway.com.
The MFINITY sales force, known otherwise as Brand Ambassadors, will become Kannaway Brand Ambassadors, and will immediately have access to market and sell the world’s leading non-psychoactive, cannabis-based products.
Thanks to the asset purchase agreement, Medical Marijuana Inc. is in a favorable position to carry on its newly implemented growth model of expansion via acquisition. The addition of newly appointed Kannaway President, Bill Andreoli, allows the company to pursue this strategy given Mr. Andreoli’s success in completing over a dozen acquisitions throughout his career.
Medical Marijuana Inc. has an in-house manufacturing and distribution unit, so it can easily formulations and product lines from acquired companies and propel product sales through its international platform and global footprint, spanning four continents.
Key Quote
“I could not be more excited to take on my new role as Kannaway President and lead the company and its expansion strategy,” said Bill Andreoli, newly appointed President of Kannaway. “Successfully acquiring and integrating brands is something I’ve done with great success in the past and I look forward to implementing that model here at Medical Marijuana, Inc.”
Technical Data MJNA stock is trading below the 20-Day and 50-Day Moving averages of $0.0122 and $0.0134 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0162.
