Medical Marijuana, Inc. (OTCPK:MJNA) acquired Essentially all Operating Assets of KZ1 for $5 million on August 1, 2023. Under the asset purchase agreement Kannaway acquired essentially all of KZ1?s operating assets for a purchase price of $5 million and will integrate the KZ1 and Kannaway sales forces. Closing of the transaction required cash of $150,000 and conditional obligations to KZ1 totaling $4,850,000, which are payable only from royalties and sales overrides on future sales of KZ1 products and are otherwise non-recourse obligations against either Kannaway or the Company.

Medical Marijuana, Inc. (OTCPK:MJNA) completed the acquisition of Essentially all Operating Assets of KZ1 on August 1, 2023.