California-based Medical Marijuana Inc. and Native American company CannaNative have put together a hemp-derived CBD product line to be sold on tribal lands.
The companies said in a news release Monday that Medical Marijuana Inc. and its HempMeds subsidiary will produce the product line, which will be sold under the CannaNative brand.
It will be offered at tribal wellness centers, native doctor’s offices, pharmacies, and dispensaries on tribal lands. It is “intended to help the more than 560 U.S. tribal nations develop hemp- and cannabis-based economies to protect their sovereignty,” the companies said in their news release.
“We believe that every Native American tribe should have the opportunity to establish and grow a responsible, cannabis-based economy to sustain all future generations, which this product line will help us achieve,” Anthony Rivera, CannaNative CEO, said in the release.
Although a number of tribes looked quickly at getting into the cannabis trade after the Department of Justice released the Wilkinson Memo in late 2014, not many have followed through. Rivera’s company, CannaNative, has also been trying to put together a banking system via tribes that would work with marijuana businesses.
Medical Marijuana Inc. is a public company that trades under the ticker symbol MJNA.