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CannaBANK Transfers First Asset to Medical Marijuana, Inc.

March 29, 2011 09:00 ET

SAN DIEGO, CA--(Marketwire - March 29, 2011) - Medical Marijuana, Inc. (PINKSHEETSMJNA) is proud to announce that it has received an initial asset as well as a management contract transferred from the Hemp Deposit & Distribution Corp (HDDC), d/b/a CannaBANK, Inc. MJNA benefits directly by receiving the debt-free income producing property from HDDC. CannaBANK anticipates this landmark facility to generate in excess of $40 million in revenue annually. MJNA Management stated that the transfer will be immediately accretive to earnings.

MJNA will not be the sole beneficiary, however. CannaBANK's new operations at the property will create 115 new on-site jobs. MJNA also intends to contribute 10% of the facility's profits to the Our World Health Organization (OWHO), a non-profit organization which will join MJNA in spreading the message of better living through herbal remedies, effectively changing the world -- one mind at a time.

ABOUT MEDICAL MARIJUANA, INC.

Medical Marijuana, Inc. (www.medicalmarijuana.com) recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion thus opening the door for safe and lucrative investment opportunities.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.