×

KannaLife Sciences, Inc. and Kannaway, LLC Sign Long Term Sales, Marketing and Product Development Agreement

WEST HILLS, N.Y., March 31, 2014 (GLOBE NEWSWIRE) -- KannaLife Sciences, Inc. ("KannaLife") and Kannaway LLC ("Kannaway"), have entered into a five year sales, marketing and product development agreement (the "Agreement").

Kannaway is the only network marketing company in the U.S. currently specializing in the sales of hemp based botanical products. Since its inception in January 2014, Kannaway has become one of the fastest growing sales marketing companies in U.S. history, having built a network sales force and subscriber base in excess of 40,000 professionals within the first three months of its existence (the "Kannaway Network").

Under the Agreement, KannaLife will be developing and branding novel phyto-medical and naturopathic products, as well as certifying additional products being sold through the Kannaway Network.

Dean Petkanas, CEO of KannaLife stated, "We have been entrenched in product research and development for the last nine months, advancing our efforts towards the creation of natural cannabinoid based medicaments and synthetic cannabinoid like molecules which have improved drug like properties. The timing for entering into this Agreement with Kannaway couldn't be better. We now have this once in a lifetime opportunity to be side by side with the most dynamic sales force in the industry, pressed right up at the forefront of the high demand, consumer products driven market for hemp and cannabinoid consumables and body care products."

About KannaLife Sciences, Inc.

KannaLife Sciences, Inc. is a late stage bio-pharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed as neuroprotectants, immuno-modulators and reduce oxidative stress. KannaLife Sciences currently holds an exclusive license with National Institutes of Health – Office of Technology Transfer ("NIH-OTT") for the Commercialization of U.S. Patent 6,630,507, "Cannabinoids as Antioxidants and Neuroprotectants" (the "'507 Patent"). KannaLife is currently conducting research and development at the Pennsylvania Biotechnology Center in Doylestown, PA, for a target drug candidate to treat Hepatic Encephalopathy ("HE"). HE is an oxidative stress related disease that affects the cognitive and behavioral functions, and the wellness of the brain and the liver.

For more information, please visit KannaLife's website at: www.kannalife.com

About Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp based botanical products. Kannaway currently hosts weekly on-line sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp based botanical products. Kannaway currently has over 40,000 marketing professionals in its network.

For more information, please visit Kannaway's website at: www.kannaway.com

CONTACT: Media Contact: Thoma Kikis, CVO 516-669-3219

Source:KannaLife Sciences, Inc.