Marijuana Company of America (OTCQB: MCOA) and joint venture (“JV”) partner Global Hemp Group (CSE: GHG) (OTC: GBHPF) (FRA: GHG) recently announced the start of commercial planting at GHG’s hemp farm in Scio, Oregon, which operates under the name Covered Bridge Acres Ltd. (“CBA”) (http://cnw.fm/2mqAf). An article discussing the company reads, “The team at Covered Bridge Acres has taken steps to increase crop stability and quality this season while also reducing expenses. In lieu of purchasing cloned plants or seeds from other companies, as in prior seasons, the hemp plants used for this year’s cultivation have been produced from either sprouted seed or through CBA’s cloning operation conducted onsite at the company’s greenhouses and under full control of the CBA team. . . . Additionally, this year’s crops used superior genetics with increased stability when compared to those in prior years. The team expects to plant 40,000 to 50,000 plantlets this year, with a CBD content ranging from 12% to 15%. Excess clones will be sold or used for expansion. Eliminating the need to purchase clones from third parties by utilizing the farm’s greenhouses for production is expected to reduce operating expenses in the current year by approximately $200,000.”
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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.
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