Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) this
morning announced its official acquisition of a 20 percent ownership interest in
Natural Plant Extract of California (“NPE”). According to the update and under
the agreement terms, MCOA has committed to contribute $2,000,000 in total cash
to the project as well as $1,000,000 in its common shares in exchange for a 20
percent equity position in NPE. In addition, MCOA and NPE have officially
entered a joint venture agreement to establish Viva Buds as a premier cannabis
delivery company, from which both NPE and MCOA will share in 50/50 profits.
“After a great deal of due diligence and strategic planning, we are happy to
execute an agreement to purchase ownership in NPE,” MCOA CEO Don Steinberg said
in the news release. “This is a major step in staying true to our name
Marijuana Company of America and entering into the marijuana industry in
California. We have aspirations of becoming a major distributor, delivery
service and manufacture in California. NPE is ahead of most of the competition
in the state in terms of permitting, build-out and licensing.”
To view the full press release, visit http://ibn.fm/etEcE
About Marijuana Company of America Inc.
MCOA 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://ibn.fm/MCOA
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