NEW YORK, January 18, 2018 /PRNewswire/ --
Cannabis stocks just got whipsawed.The sector soared after the New Year when California legalized recreational marijuana. The following day the sector sank when the U.S. Attorney General Jeff Sessions rescinded the federal
Investors and cannabis consumers should understand some of the similarities and differences between hemp and marijuana. Both marijuana and hemp come from the same plant species, Cannabis Sativa L., but centuries of breeding and manipulation resulted in the emergence of two distinct varieties with two completely different uses: one for psychoactive purposes, and the other for agricultural and industrial uses. Marijuana is grown for its psychoactive THC content, while industrial hemp is an agricultural crop grown for seed, fiber and Hemp-derived CBD oil containing trace amounts of non-psychoactive THC (less than 0.3%), and high levels of CBD.
Featuring industrial hemp-based CBD products, and led by Donald Steinberg and Charles Larsen, two veterans of the cannabis and industrial hemp industries, Marijuana Company of America, Inc. (OTC: MCOA) is in a potential position to thrive in spite of any industry uncertainty. The company's profile results from its focus on industrial hemp-based CBD products, and its portfolio of synergistic companies that operate in the space. Formed in 2015, MCOA has already established its presence in the industrial hemp CBD market, as well as related services supply chains.
The company's business model, and upper management's experience, distinguishes MCOA from others in the sector. Donald Steinberg, MCOA's CEO, is a cannabis industry pioneer. Along with MCOA director Charles Larsen, they founded the first marijuana company trading on a U.S. stock market, Medical Marijuana Inc. Together, their first-hand knowledge of the industry gives MCOA insights on the industry, and the vision to capitalize on opportunities in a market projected by some analysts to reach $22.6 billion over the next three years. Steinberg and Larsen also formed Canadian based Global Hemp Group, which is focused on the production and processing of hemp and cannabis. Larsen has more than 30 years of experience working in government, public, private and startup companies and has been actively involved in the cannabis and hemp industry for a decade.
MCOA's hemp-based CBD consumer products are researched, developed and sold under the brand name hempSMART™. All of hempSMART's cannabinoids go through an exacting hydrocarbon extraction process to ensure only the highest quality hemp-based CBD is used in its natural wellness products. MCOA's hempSMART product line includes: the patent-pending product, hempSMART Brain, designed to improve memory and focus; hempSMART full spectrum bioavailable CBD Drops; hempSMART Pain capsules with a blend of premium CBD and botanical supplements; and, hempSMART Pain cream, which combines natural botanicals and full spectrum hemp CBD extract to support joint and muscle wellness.
To develop sales, MCOA created a unique hempSMART affiliate network marketing program with a generous compensation plan to promote and sell its hemp-based CBD consumer products around the globe. The sales model is a natural fit because product users not only generate sales volume, but also become strong proponents of the benefits of hempSMART's CBD products, and so become ambassadors for the hempSMART products and brand.
Seizing opportunities in this burgeoning sector, MCOA is expanding into select ancillary areas of the legalized cannabis and hemp industry. With its hempSMART™ subsidiary operational and growing, and four other transactions completed in 2017, MCOA is rapidly building a portfolio of diversified investments and joint ventures to grow the company and drive shareholder value.
In July 2017, MCOA completed an investment of $250,000 into MoneyTrac Technology, Inc. ("MTRAC"), a subsidiary of Global Payout, Inc. (GOHE) in exchange for 15% equity position in the company, to help establish MTRAC as an alternative banking solution for the Cannabis industry. MTRAC currently has the ability to integrate and streamline electronic payment processing such as E-wallet, mobile applications, debit cards, and credit cards. Currently, MTRAC has strategic partnerships with top cannabis services such as GreenRush, BlazeNow, High Grade Management Group, and PotSaver, which was a majority acquisition last October.
In Q1 2017, MCOA entered into a joint venture with Bougainville Ventures, Inc. to construct a 30,000-sq. ft. greenhouse cultivation facility in Oroville, Washington. The facility will accommodate a Tier-3 production and processing I-502 tenant with years of experience in cannabis cultivation. In Q4 of 2017, MCOA completed financing of $800,000 in cash and 15 million shares of the company's common stock to complete the amended terms of the agreement. The delivery of the first pre-designed greenhouse, with full tracking and reporting protocols has arrived and is the first of six greenhouses that will be constructed during Q1 2018 on a total footprint of one acre. This joint venture project is solely for the purpose of cultivation and processing of legal marijuana within the state of Washington only and not beyond its borders. The company will lease the turnkey property to the licensed tenant, thus acting solely as a landlord. The first greenhouse has been purchased and is in the process of being constructed.
In Q3 2017, MCOA and Global Hemp Group, Inc. entered into a joint venture to develop commercial hemp production and processing in New Brunswick, Canada. MCOA and GHG have now completed the first phase of hemp trials, receiving research support from the Collége Communautaire du Nouveau Brunswick (CCNB). MCOA is granted a Right of First Refusal as the primary recipient of any raw materials produced from the project, which we expect will harvest its first commercial crop of 125 acres in Q4 2018.
At the end of Q4 2017, the company announced an investment of $100,000 for a 25% equity stake in Convenient Hemp Mart, LLC's "BeniHemp" branded products to target convenience stores for CBD product distribution. BeniHemp products will include topicals, tinctures, and edibles conveniently packaged in 1-day, 2-day, and 30-day supplies. The target market is convenience stores, smoke shops, gas stations and similar small retail businesses. The expectation is that there will be a full launch and website online in January 2018.
MCOA has been operating in the North American cannabis and hemp product development & distribution market for the past three years. With a track record for developing shelf ready products and bringing them to market, in compliance with various US state regulations, we believe the company has the knowledge, skills and management strategies to launch and implement a successful ongoing program. Given MCOA's drive and the vision, it's our opinion that there's little reason to doubt that the company will create a significant footprint in the hemp-based CBD market and a broad range of other legal cannabis endeavors.
PotNetwork Holding (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. Diamond CBD focuses on the research, development, and multi-national marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD's team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils.
General Cannabis (OTCQB: CANN) is a comprehensive resource for the highest-quality service providers available to the regulated cannabis industry, advising on the cultivation, production and retail sides of the cannabis business. The Company does this through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, its divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed. The Company's experienced team of associates is dedicated to working side by side with its customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking and optimizing for a more productive tomorrow.
United Cannabis (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. Most of the Company's products are patent protected first in class medicines with applications to a global market. United Cannabis trades on the OTCQB under the symbol CNAB.
AmeriCann (OTCQB: ACAN) is an Agricultural Technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art medical cannabis cultivation and processing properties. AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the company's commitment to social and environmental ethics, transparency, and accountability. AmeriCann became the first public cannabis company to earn this respected accreditation.
For more information on Marijuana Company of America, Inc., please visit Marijuana Company of America, Inc. (OTC: MCOA)
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW undertakes no obligation to update such statements.
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About MCOA's 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.
Marijuana Company of America, Inc. ("Company") complies with Section 17(b) of the 1933 Securities and Exchange Act. The Company retained Network News Wire to publish information about the Company. To comply with Section 17(b) of the Securities Act of 1933, the Company discloses that it retained and paid NetworkNewsWire with a payment of $7,500 to publish news, updates, articles and content about the Company in this editorial report.
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 http://www.sec.gov.
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