Medical Marijuana, Inc. (MJNA) Names Blake Schroeder as its new CEO

June 17, 2021 4:06 PM EDT

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Medical Marijuana, Inc. (OTC: MJNA) (the “Company”) announced today that it has appointed Blake Schroeder as Chairman of the Board and named him as Chief Executive Officer and President of the Company. Mr. Schroeder replaces Dr. Stuart Titus in those roles. Dr. Titus resigned from these positions in order to move towards semi-retirement. Dr. Titus will continue to serve the Company in a consulting role as an exclusive spokesperson, product expert and cannabis educator for the Company under a multi-year contract.

"I am very pleased to see the Board of Directors select Blake for his new positions as I move towards semi-retirement," said former Chairman and CEO Dr. Titus. "Blake has been the team leader over the Company's entire operations and responsible for fostering the re-emergence and growth of our company since coming on board with us in March 2016. The Company is in very good hands with him at the helm. I'm also very excited to remain in my role as spokesperson, product expert and cannabis educator for the Company. On a personal note, I am honored to have had the opportunity to be CEO of Medical Marijuana, Inc. and look forward to my continued role. Since our group founded this industry in 2011 my vision for CBD has become a reality with the amazing acceptance by the general public as well as the medical community. I continue to believe that almost everything in this industry remains at an early-stage, ground-floor level.”

“I am honored to take on these positions within our Company,” said Chairman and CEO Blake Schroeder. “This is and always has been a ‘Company of Firsts’ and we owe much of our pioneering in the area of product development, market education and market acceptance of non-psychoactive cannabis products to the knowledge and insight of Dr. Titus. His continued role as our spokesperson is especially positive for the Company.”

During his time at the Company, Mr. Schroeder's key contributions include international market development, financial performance management, product development, rebranding efforts, and operational development of the Company as a whole. Since Schroeder became CEO of Kannaway®, the Company's revenue has grown from $2 million in annual sales to nearly $70 million in annual sales in 2019.

Mr. Schroeder has extensive business experience in the nutrition industry ranging from legal and regulatory insight to overseeing all aspects of global sales, product development, marketing, distribution, and operations. His legal and operations experience includes overseeing development of businesses in Europe, Russia, Israel, Brazil, Mexico, and Japan. Mr. Schroeder has operated businesses in countries around the globe, and extensively in North America, South America, Europe and the Middle East.

Dr. Titus’ resignation from his Board and officer positions was not the result of any disagreement with the Company.

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