ESCONDIDO, CA–(Marketwired – Sep 5, 2017) – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company“) (OTC: MCOA), an innovative cannabis and hemp corporation, is pleased to announce a Joint Venture (“JV”) with Global Hemp Group Inc. (“GHG”) (CSE: GHG) (OTC: GBHPF) on its industrial hemp project on the Acadian peninsula of New Brunswick, Canada.
MCOA has partnered with GHG to assist in developing commercial hemp production in the region. Currently GHG is conducting its first phase hemp cultivation trials on the peninsula (Please visit the following link for updates — http://globalhempgroup.com/trialupdates). The results of these trials will be used to establish commercial cultivation in 2018. In this first year of the JV, MCOA will share the costs of the ongoing hemp trial; provide its expertise in developing hemp cultivation; and, be granted a Right of First Refusal as GHG’s primary off-taker of any raw materials produced from this project. The project is also receiving research support from Collège Communautaire du Nouveau Brunswick (CCNB) located in Bathurst, New Brunswick.
GHG’s Hemp Argo-Industrial Zones, or HAIZ, concept will help create the infrastructure capable of processing all of the industrial hemp plant into a number of different wholesale products. This concept being developed by GHG, will help create jobs for farmers and provide superior sustainable products to the global market. MCOA and GHG also intend to extract cannabinoids like CBD, CBG, and CBN for the development of MCOA’s proprietary line of hempSMART™ cannabinoid based products.
“Global Hemp Group is providing MCOA an opportunity to expand into the hemp market in Canada. We intend to build upon this relationship between our companies and are excited to take part in this project in New Brunswick,” said MCOA’s CEO Donald Steinberg.
About Global Hemp Group Inc.
Global Hemp Group (“GHG”) is a publicly traded company founded in 2012, headquartered in British Columbia, Canada with base operations in Montreal and Southern California. The Company is focused on the production and processing of hemp and cannabis, and collaboration with companies that will enable GHG to develop and implement the Hemp Agro-Industrial Zone concept. Through partnerships, joint ventures and acquisitions, the Company will capture cash flow, revenues and value, and establish a greater collective valuation.
About Marijuana Company of America, Inc.
MCOA is a corporation engaged in business including, but not limited to: (1) product research and development of legal hemp-based consumer products containing CBD under the brand name “hempSMART™”, that 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 recreations 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.
Forward Looking Statements
This news release contains “forward-looking statements” which 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.
credit:otcmarkets.com
