Medical Marijuana, Inc. announced that its subsidiary Kannaway® has been selected as a member of the Board of Directors for the U.S. Hemp Roundtable.
The U.S. Hemp Roundtable, formed in 2017, is a coalition of more than 50 leading hemp companies representing every link of the industry’s supply chain from seed to sale. The organization has already achieved its primary goal of securing the passage of the Agriculture Improvement Act of 2018, which established hemp federally as an agricultural commodity and permanently removed it from regulation as a controlled substance, but continues to focus on lobbying efforts in state capitols to fully legalize hemp and popular hemp-derived products like cannabidiol (CBD) oil.
“Since forming our company, Kannaway, in association with its parent company Medical Marijuana, Inc. and its other subsidiaries, have participated in many domestic and international efforts to advocate for expanded access to hemp by hosting educational events and speaking with prominent regulatory bodies, including but not limited to the U.S. Food and Drug Administration (FDA), Mexico’s Federal Commission for the Protection Against Sanitary Risk (COFEPRIS) and Brazil’s National Sanitary Surveillance Agency (ANVISA),” said Kannaway CEO Blake Schroeder. “We are honored to have the opportunity to continue these efforts as a member of the U.S. Hemp Roundtable Board of Directors.”
Kannaway was the first direct-selling company to offer CBD products in both the U.S. and Europe. The company also became one of the first companies to receive a U.S. Hemp Authority Certification Seal as well as the first company to have its hemp-derived CBD product listed in the Prescribers’ Digital Reference.
“It’s encouraging to see the U.S. shift its focus back to hemp, a founding crop of this country, as U.S. farmers have been licensed to grow over 511,000 acres of the plant just this year, a 455 percent increase over 2018,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “With this monumental increase in the cultivation of the plant, we foresee the market’s revenue growth to mirror this and look forward to joining forces with the U.S. Hemp Roundtable to create a safe and legal market for all.”
