Medical Marijuana Inc., having outgrown its San Diego headquarters, is relocating to a multibuilding campus in Poway. The move is attributed to the “exponential growth” of its subsidiary company, HempMedsPX, a distributor of the company’s marijuana products.
“As a rapidly growing cannabis-based business in a market that is predicted to grow faster than the smartphone industry did, it is critical to productivity that personnel have a central location to collaborate from in this fast-paced environment,” Michelle Sides, the company’s chief operating officer, said in a statement.
The publicly traded company (OTC: MJNA) has increased its staff count from 46 to 64 in the first quarter of 2014, the company said. It closed at 29 cents per share on April 1, and has a market capitalization of $278.6 million.
