Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), announced today that its network marketing division, Kannaway, has completed an Asset Purchase Agreement with eXfuse, LLC, dba KZ1 a Japan based network marketing company.
The KZ1 acquisition will increase the sales force of the Company’s Kannaway division in Japan by approximately 1,450 individuals and the Company believes the increased sales force will greatly benefit Kannaway’s ramp up in the Japanese market. KZ1’s premium product “Focus,” containing Nootropics, which helps support cognitive function, has been well received in the Japanese market and adds to the Company’s current line of CBD, natural health and beauty products.
Commenting on the acquisition, Kannaway President Bill Andreoli stated:
“The combining of these two companies’ products and distributor genealogies will have an immediate positive effect on revenue in Japan. I am so excited for Kannaway and KZ1 distributors coming together with such a strong message of Hemp & Wellness.”
Tim Scott, CEO said,
“We have worked hard to increase financial efficiency and increase cash flow and the acquisition of KZ1 fits right into this strategy. With this acquisition, combining the KZ1 sales force with Kannaway’s, we expect to see a strong impact in Japan. This is just another step in our strategy to grow