Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) recently signed an LOI with Alpha Private Equity & Capital and Northern Lights Distribution (“NLD”), a subsidiary of Natural Plant Extract of California (“NPE”), to form joint venture Magnolia Extracts LLC (http://cnw.fm/l5lXR). An article discussing the company reads, “When MCOA acquired an equity interest in NPE, the company entered a joint venture agreement with NPE to form Viva Buds, a premier cannabis retail-delivery business. MCOA plans to begin a cannabis delivery service in California, starting in Los Angeles County and then rolling out to other major areas within the state. Both MCOA and NPE agree to split the profits equally. . . . ‘As our portfolio of legal cannabis and industrial hemp investments and joint ventures represent a significant portion of our growth strategy, we believe this step represents a strong move forward to establishing our foothold in the market,’ MCOA CEO Don Steinberg stated in a news release. ‘This allows us to advance into the next phase of our business plan through NPE, gaining access to over 18,000 square feet of building space.’”
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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. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
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