After-hours news: Medical Marijuana, Inc. and LiveWire Ergogenics, have signed a memorandum of understanding to come together under HempWire, LLC. Just a few weeks after LiveWire purchased a majority stake in Apple Rush Company, Inc. (APRU), they will be moving further into the legal/medical marijuana sector. This agreement between LVVV and MJNA will give Medical Marijuana, Inc. access to the extensive distribution chain LiveWire has developed through selling it’s LiveWire Energy soft chews.
This joint venture will offer functional foods (non-pyschoactive CBD-rich hemp oil products). The agreement will have LiveWire purchasing hemp oil products from HempMedsPX, a Medical Marijuana, Inc. company, and producing a “CBD-rich hemp oil taffy-like consistency chewable square” – Globe Newswire. HempWire will use the existing retail, wholesale and distribution networks of Medical Marijuana, Inc. and LiveWire.
“LiveWire has extensively researched the medical marijuana industry, and we find Medical Marijuana, Inc. to have the greatest credibility … We believe our collaborative effort to develop HempWire has the potential to reshape functional foods. We provide precise dosage, consistency and world class manufacturing. Medical Marijuana, Inc., in our opinion, has the best research, industry experts, and regulatory compliance officers. The manufacturing will be done through LiveWire Ergogenics, and we will manage our distribution portion of HempWire through our Herbaceuticals division.”
– Bill Hodson, CEO of LiveWire Ergogenics, Inc.
What does this news mean for MJNA and LVVV? Both Medical Marijuana, Inc. and LiveWire Ergogenics, Inc. should see an increase in sales from this collaboration. The distribution network that each of these companies have developed will allow for this new venture to prosper as soon the new product line is available for distribution. With Alabama’s house and senate unanimously approving the state’s medical marijuana bill today, and 14 other states pending legislation (including New York and Florida), this sector is poised for enormous growth. Remember that marijuana is still illegal under federal law, causing the entire medical/legal marijuana sector a major high risk/high reward play. (No pun intended)
Rosenberg (OTC Daily)