SAN DIEGO, April 30, 2013 (GLOBE NEWSWIRE) -- To The Shareholders of Medical Marijuana Inc: From: Michelle Sides, Chairman, Chief Operating Officer and Shareholder It has become apparent that the Company needs to pause momentarily and address the concerns of a number of our valued shareholders that have been posed to us from the numerous emails, postings, phone calls and the like as it pertains to the recent blog articles on MJNA. These attacks, led by a collective group of individuals with personal motives have led to uncertainty within our shareholder base. Shareholders have also expressed concerns on the failure of management to address those accusations on a more diligent basis. I will begin with a brief overview of where the Company is headed and then directly address the questions that have been presented. Medical Marijuana Inc., is in the business of researching, developing, investing and selling products and services within the legal medicinal cannabis and industrial hemp industries. Over the past few years the Company has gone to great lengths and our team has worked tirelessly to develop innovative affective products, create supply chains that prior to our development and team's expertise did not exist. We have had to effectively navigate an ever changing legal and political environment at home and abroad, changes that have and have not affected the Company. We have had to decide which businesses, brands and products to invest in and develop, seeking legal guidance on the related matters, all while allowing us to comply with the United States and other countries' laws we operate in. The cannabis industry is ever evolving and constantly on the move politically and within the context of products (both medicinal and not). The Company has chosen several paths to focus on. The first is our hemp based consumer products such as Dixie Botanicals ( www.dixiebotanicals.com ) and our CanChew Gum ( www.CanChewgum.com ). The second is on the raw ingredients supply chain with the development of PhytoSPHERE Systems ( www.phytospheresystems.com ) and its hemp production capabilities. Prior to our development and production of Phytosphere, the raw ingredients markets for our products did not exist. The third is actively and aggressively pursuing additional investments in companies that are in our core competency, such as our recent investment in KannaLife Sciences, Inc. ("KannaLife"). KannaLife holds an exclusive license agreement with the National Institutes of Health – Office of Technology Transfer ("NIH-OTT") for the commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent"). The 507 Patent includes among other things, claims directed to a method of treating diseases caused by oxidative stress by administering a therapeutically effective amount of a non-psychoactive cannabinoid that has substantially no binding to the NMDA receptor. KannaLife intends to move forward with its commercial development plan, and design a novel new drug compound for the treatment of Hepatic Encephalopathy (HE). The fourth is in the product sales, marketing and distribution pipelines for our products and within our products space. Prior to the Company's investments there was not an overall hemp based products distribution platform. Our team has spent years developing its distribution pipeline and developing the online properties the Company is in the process of launching, this includes more than 3000 online sales and informational sites that are keyword based and being developed. These properties will lead to the Company's overall sales, marketing and branding success.
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- FINANCIALS AND PHYTOSPHERE SYSTEMS TRANSACTION