Medical Marijuana, Inc. (OTC Pink:MJNA), a leading industrial hemp industry innovator, is proud to announce that it has signed a definitive agreement to acquire 100% membership interest of Kannaway, LLC. The amount of the sale is undisclosed.
The valuation of Kannaway is in the range of $119.6-242.7 million.
The agreement is expected to take at least 90 days to close and will effectively make the cannabis-based network marketing company a wholly owned subsidiary of the first-ever publicly traded cannabis company.
Kannaway’s valuation was performed by none other than esteemed financial advisory and investment banking firm, Houlihan Capital. The firm has performed valuations for similar category creators including: Urban Outfitters, Redbox, Micros Systems Inc., LeapFrog Enterprises, Tootsie Roll Enterprises, U.S. Airways Inc., and more. Houlihan Capital is a Financial Industry Regulatory Authority (FINRA) and SIPC member, committed to the highest levels of professional ethics and standards.
“Quality, ethics and accountability are hallmark principles that are the foundation for each Medical Marijuana, Inc. company,” states Michelle Sides, Chief Operating Officer of Medical Marijuana, Inc. “We are thrilled at the addition of Kannaway to Medical Marijuana, Inc.’s investment portfolio as the Company’s leadership operates under the same beliefs.
Kannaway offers Medical Marijuana, Inc. shareholders a
Monthly Archives: January 2015
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What Target Did Right in Canada
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Arguably the hardest decision any small business owner faces is when to end a business pursuit, whether a product, an acquisition, or the mother of all anguishing decisions – to close the business. Here is what you can learn from Target.
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HP Pro Slate 8: Is It Good for Business?
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The new HP Pro Slate 8 is an ultraportable, Android-powered tablet that’s completely compatible with the new HP Duet Pen.
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Office 2016 Sends Touch-Friendly Apps Across Devices
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Windows 10 for Smartphones: Top Features for Business
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Microsoft is refreshing its smartphone operating system with a slew of new, productivity-boosting features.
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Jeunesse Celebrates Record Month In December With $61 Million In Sales
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Finishes 2014 with over $400 Million in Sales Revenue
Jeunesse is celebrating its highest annual sales since the company’s inception, closing 2014 with record-breaking sales surpassing $400 million—a huge increase over its 2013 total of $256 million.
Continuing a streak of explosive growth in its fifth year since inception, Jeunesse achieved a record $61 million in sales in December, with 68,000 new distributors joining that month and over 6,500 on December 31st alone.
This new peak occurred only two months after its previous best month in October, when the company eclipsed $50 million in sales and welcomed more than 42,000 new distributors.
These record numbers cap a remarkable year of accomplishment for Jeunesse. A total of 367,000 distributors joined Jeunesse during the year, with 32 new Diamond Directors and 9 new Double Directors achieving the rank from 2014 alone. In April, Jeunesse won six American Business Awards, including Company of the Year, Corporate Social Responsibility Program of the Year, and Best Corporate Sales Video.
That same month, Jeunesse won twelve Telly Awards for their innovative, distributor-friendly marketing materials and ranked at #46 on Direct Selling News’ Global 100 List—a 32-spot rise from the previous year’s rankings. June 2014 heralded the company’s inclusion in
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Talks to end West Coast seaports deadlock go on 1-day hiatus
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Negotiators trying to resolve labor strife at West Coast seaports took Thursday off, as dockworkers gathered to rally against employers they say are trying to exploit a crisis of cargo congestion at harbors that handle about $1 trillion worth of goods annually.
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West Coast seaport talks resuming after hiatus, rallies
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Labor strife at seaports along the West Coast prompted thousands of dockworkers to rally against employers they say are trying to exploit a crisis of cargo congestion at harbors that handle about $1 trillion worth of goods annually.
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UPS takes a hit during the holidays, cuts outlook
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The huge cost of ensuring timely deliveries cost UPS during the holidays and the shipping company is now cutting its outlook for the year.
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Deere to lay off more than 1,000 workers in Iowa, Illinois
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Deere is laying off about 910 workers indefinitely from factories mostly in Iowa and will sideline another 500 employees in Illinois until late summer, as the agricultural equipment maker adjusts to demand for its products.