GlobeNewswire Inc | Jul 21, 2020 09:00AM EDT

July 21, 2020

SAN DIEGO, July 21, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Medical Marijuana, Inc.(OTC: MJNA) (the "Company"), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that its investment company AXIM Biotechnologies, Inc.(OTCQB: AXIM) (AXIM Biotech or AXIM) has announced the development of a rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 (COVID-19) from infection.

Medical Marijuana, Inc. CEO Dr. Stuart Titus commented: Our portfolio is proud to see the innovation that AXIM has showcased over the past few months and we are optimistic that this test could help make a difference in achieving our end-goal of overcoming this virus. Personally, I think that this kind of ingenuity will set us apart from our competitors and allow us to continue to grow the other facets of our business.

Unlike currently available COVID-19 tests that detect an antibody response to the virus, AXIMs rapid 10-minute test measures a specific subpopulation of antibodies to block the virus from attacking a persons body. While there are expensive, time-consuming laboratory tests that measure neutralizing antibodies, this test could be offered with easier convenience, lower cost and much faster -- results in 10 minutes -- than any other test on the market.

AXIMs test could also help ensure that vaccines elicit high levels of neutralizing antibodies. When a vaccine is available, manufacturers can employ this test to evaluate its effectiveness in vaccine recipients.

We have succeeded at creating a test that is cost-efficient, accurate and fast hopefully serving as an Immunity Passport for vaccine developers as they begin larger Phase II and III clinical trials, AXIM Biotech CEO John W. Huemoeller II said.

AXIM has filed a Pre-Emergency Use Authorization and is compiling the necessarydata from numerous tests recently completed that areneeded toapply for an EUA from the FDA. AXIM makes clear that while the Company intends to file an EUA with the U.S. FDA, the U.S. FDA has not yet approved the Companys diagnostic test and there is no guarantee that any EUA once filed will be approved.

About AXIM Biotechnologies

Founded in 2014, AXIM Biotechnologies, Inc. (AXIM) is a vertically integrated research and development company focused on changing diagnosis and treatment for oncology and SARS-CoV-2 (Covid-19).AXIMs NeuCovixTM is the first rapid diagnostic test measuring levels of functional neutralizing antibodies that are believed to prevent SARS-CoV-2 from entering the host cells. Additionally, the Company is developing rapid diagnostic tests for the early detection of cancer and proprietary small molecules drugs to treat cancer and block metastasis. For more information, please visitwww.AXIMBiotech.com.

About Medical Marijuana, Inc.

We are a company of firsts. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led byKannawayandHempMeds; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners includingAXIM Biotechnologies, Inc.andKannalife, Inc. Medical Marijuana, Inc. was named a top CBD producer byCNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company's flagship productReal Scientific Hemp Oilhas been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.

Medical Marijuana, Inc.'s headquarters is in San Diego, California, and additional information is available atOTCMarkets.comor by visitingwww.medicalmarijuanainc.com. To see Medical Marijuana, Inc.'s corporate video,click here.

Shareholders and consumers are also encouraged tobuy CBD oil and other products at Medical Marijuana, Inc.'s shop.

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.

FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE

These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.

LEGAL DISCLOSURE

Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.

CONTACT:Public Relations Contact:Andrew HardChief Executive OfficerCMW MediaP. 858-264-6600andrew.hard@cmwmedia.comwww.cmwmedia.com

Investor Relations Contact: P. (858) 283-4016 Investors@medicalmarijuanainc.com