Escondido, CA — (May 7, 2019) – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced that on May 1, 2019, the Company mailed a letter to its shareholders to update them on recent developments and new business opportunities. In the letter, the Company provided a discussion on its two current acquisitions underway a review of its recent financial and operating performance and details of its new Viva Buds™brand that will serve as a manufacturing, distribution and retail delivery service for cannabis products in the state of California.
Recent Company highlights include:
- Marijuana Company of America’s global expansion with the debut of its hempSMART™ products in the UK
- The Company’s established joint venture in California to operate a California cannabis delivery service named Viva Buds™
- Details of the joint venture partnership with Global Hemp Group, which completed a successful first harvest late in 2018 and is now in position to monetize its hemp biomass
- A strategic partnership with MassRoots (OTCQB: MSRT) to promote its hempSMART CBD product line
- “Our shareholder letter addresses our hemp research and growth business expansion, and the two joint ventures we started with Global Hemp Group Inc. last year, which includes a working hemp farm in Oregon that just completed its successful first harvest in late 2018,” said Mr. Don Steinberg, Chairman and CEO of Marijuana Company of America. “We are confident to now be strategicallypositioned to drive more revenue and expand exponentially into new markets with our products and business growth methods.”
To read the letter to shareholders in full, please visit: http://marijuanacompanyofamerica.com/investor-relations/
About Marijuana Company of America Inc.
MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART™ which targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Our hempSMART Products Containing CBD
The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA’s jurisdiction.
Forward Looking Statements
This news release contains “forward-looking statements” that are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-12G, our quarterly reports on Form 10-Q and other periodic reports filed from time to time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
Corporate Communications Contact:
New York, New York