Kannaway and parent company Medical Marijuana appear to be in crisis.

Following the
acquisition of Mfinity Global
a year ago, Bill Andreoli signed on as Kannaway’s new President.

In an communication sent out last Friday, Kannaway has advised Andreoli “and his executive team … are moving to an opportunity with a new company”.

That takes effect at the end of November 2023.

Andreoli’s stint as Kannaway’s President hasn’t amounted to much. Outside of Mexico and Slovakia there isn’t much happening.

SimilarWeb tracked just ~15,000 visits to Kannaway’s website in September 2023. Parent company Medical Marijuana’s stock price is at half a cent, down from a high of 10 cents in February 2021.

Keep in mind this is 
after 
the acquisition of Mfinity Global and
KZ1
over the past year. Neither of which seems to have paid off.

Of potential further concern is Kannaway announcing a “strong new manufacturing and distribution team”. No idea what happened to the previous team.

As of December 2023, Kannaway will be headed up by existing CEO Tim Scott. No other replacement executives have been named.

Details of Andreoli’s and his executive team’s move are expected to be made public following the December transition.

One potential candidate is
TranzactCard
, following the
purchase of Kannaway’s affiliate and customer information
in July.

Update 18th December 2023 – 
After only a few months as President,
Bill Andreoli has left TranzactCard
.

An explanation for Andreoli’s departure wasn’t provided.

🤖 Quick Answer

What is the current situation at Kannaway and Medical Marijuana?
Kannaway and parent company Medical Marijuana are experiencing significant challenges. President Bill Andreoli and his executive team are departing to pursue opportunities elsewhere, effective end of November 2023. The company shows minimal activity outside Mexico and Slovakia, with website traffic around 15,000 monthly visits and parent company stock trading at half a cent, down from 10 cents in early 2021.

Who was Bill Andreoli and what was his role?
Bill Andreoli joined Kannaway as President following the company's acquisition of Mfinity Global approximately one year prior. His tenure proved relatively unsuccessful, with limited business development and expansion outside specific geographic markets, ultimately leading to his departure along with his executive team.

How has Medical Marijuana's stock performance reflected company challenges?
Medical Marijuana's stock price has declined dramatically from 10 cents in

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