Medical Marijuana Inc
(OTCMKTS:MJNA) announced on Tuesday that it launched a new warehouse and
production facility in Utah as part of its aggressive expansion plans.
The Utah-based facility has already received regulatory
approval from the state and it also complies with the cGMP. It occupies about 16,000 square feet
of space and was designed to meet Medical Marijuana Inc’s production,
warehousing and fulfillment needs for its hemp and CBD-based oil products.
Medical Marijuana Inc. was the first publicly listed firm to roll out nutraceutical
products with cannabis extracts.
“As the Company has seen a significant rise in sales and
overall revenue this year, we believe that this new facility will help us
strengthen our customer base and meet the needs of today’s burgeoning cannabis
market,” stated Dr. Stuart
Titus, the CEO of Medical Marijuana Inc.
Dr. Titus also noted that the company has a team that is committed
to making sure that the new facility will encourage more valuable and
transparent relationships with customers and retailers. The launch of the Utah
facility comes just after another recent announcement through which Medical
Marijuana Inc. revealed that it was working on expanding its reach in Latin
American and the U.S.
The expansion plans
to focus on reaching major global markets especially in Europe and Asia
The company wants to make its products available in Asia and
Europe and so it believes that the new facility will help cater to the growing
production needs both domestically and internationally. Blake Schroeder, the
firm’s COO noted that Medical Marijuana’s new facility will help boost
operations and also lower expenses such as the cost of goods. It is also
expected to contribute to revenue growth and widen the scope of opportunities.
Schroeder also believes that the launch of the new facility
in Utah represents his company’s commitment to maintaining its status as an
industry leader. It also highlights the commitment to generate more shareholder
value and most importantly, to provide high-quality products to retailers and
consumers. The launch also validates the company’s pursuit of more expansion so
that it can make its products available to more regions across the world.