Completes Financing Agreement With CannaBANK Inc For Up To Four Million Dollars To Complete Several Key Acquisitions

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MJNA +87.93%

SAN DIEGO, Feb. 28, 2012 /PRNewswire via COMTEX/ -- Medical Marijuana Inc. MJNA +87.93% is pleased to announce it has reached a finance 

 agreement with CannaBANK Inc (CB) for up to four million dollars in equity for the acquisition and development of several pending technologies, patents and operating businesses. CannaBANK will provide the required equity on a non-dilutive basis for an eight percent royalty of each licensed facility or developed product and a twenty percent equity stake in each CannaBANK financed facility or business.

"With the closing of this agreement, its favorable non-dilutive and non-recourse terms, we will be able to complete several key acquisition. This is a significant commitment from CannaBANK and we expect to maximize the deployment of these resources to increase shareholder value." Stated Michael Llamas, President of Medical Marijuana Inc.

ABOUT MEDICAL MARIJUANA INC MJNA +87.93%

Our mission is to be the world's premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate, invest in and purchase value-added sustainable companies, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, pay homage to the visionaries and activists of the past and present, and provide the platform from which the industry can emerge into a global sustainable economy for all. Medical Marijuana Inc 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.

www.medicalmarijuanainc.com

ABOUT CANNABANK

CannaBANK is a private equity firm dedicated strictly to the cannabis and hemp industry. The company specializes in the capitalization, development and acquisition of medicinal cannabis and industrial hemp businesses.

www.CannaBANK.com