PALM BEACH, Florida, August 29, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Cannabidiol(CBD) and Hemp oil have come to fuel a multi-billion dollar movement as consumers come to understand the benefits the extracts can provide. The uses for these extracts are endless and their utility is a large reason why the overall Hemp CBD market is
Marijuana Company of America, Inc. (OTCPK:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce that it has received 150,000,000 shares of common stock of Global Payout Inc. (OTCPK:GOHE) as part its reverse merger with MoneyTrac Technology. Based on the market price of GOHE's stock on the date of the share issuance, MCOA has a contingent unrealized gain of approximately 700% on its $250,000 investment, subject to future price fluctuations in the market for GOHE's stock.
On March 13, 2017, MCOA entered into a stock purchase agreement to acquire 15,000,000 common shares of MoneyTrac Technology, Inc., for a total purchase price of $250,000.
As part of MoneyTrac's merger with GOHE, GOHE issued shares from treasury to MCOA on August 24, 2018. On the date of the share issuance, the closing price of GOHE's stock was $.0116 a share, valuing the 150M shares position at approximately $1,740,000.
Regarding the share issuance, Don Steinberg, President and CEO stated, "we are pleased to announce that we have received a substantial amount of stock in GOHE. Since we are receiving stock in a publicly traded company, we have the opportunity to realize a gain from our investment in MoneyTrac to help provide the Company with capital to help accomplish our aggressive growth goals and business plan in 2018."Read this and more news for MCOA at http://www.marketnewsupdates.com/news/mcoa.html
In the industry developments and happenings in the market this week include:
Medical Marijuana, Inc. (OTCPK:MJNA), the first-ever publicly traded cannabis company in the United States, announced yesterday that former New York Yankees and San Diego Padres right-hand relief pitcher and Pro Baseball Hall of Famer Goose Gossage has become a spokesperson for its subsidiary Kannaway® to help spread awareness on the benefits of cannabidiol (CBD) for athletes and active consumers. "We're looking forward to working with Goose Gossage to continue spreading awareness about the health and wellness benefits of CBD," said Kannaway® CEO Blake Schroeder. "His personal story is a prime example of how CBD is a great supplement that can be taken daily to help people, especially former athletes, continue living active lifestyles and we are thrilled to have such a passionate spokesperson join our team."
Tilray, Inc., (NASDAQ:TLRY) a global pioneer in cannabis production and distribution, late yesterday reported financial results for second quarter and six months ended June 30, 2018. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. "We are very pleased with our strong start to 2018. Tilray is well-positioned to continue to pioneer the development of the global medical cannabis market and to become a leader in the adult-use cannabis market in Canada," said Brendan Kennedy, President and Chief Executive Officer of Tilray. "In the second quarter, we generated significant revenue growth as a result of our global strategy, our multinational distribution network and our commitment to research, innovation, quality and operational excellence." Read the full Quarterly Earnings Here. https://finance.yahoo.com/news/tilray-inc-reports-second-quarter-200500994.html
Player's Network, Inc. (OTCQB:PNTV), a rapidly growing company in the recreational and medical marijuana industry with licensed grow operations in 2 states, announced yesterday they have achieved record sales of over $2.1 million since the recent acquisition of Green Leaf Farms Salinas Valley. They are hosting a live online webinar to discuss the Company's revenue and acquisition strategy at 4:20 p.m. PDT (7:20 P.M. Eastern) on Wednesday, August 29th, 2018. Online attendees are limited to the first 100 people who RSVP. The purpose of this announcement is to provide an update to the Company's Shareholders and the investment community with regards to their recent and substantial increase in sales (unaudited). Additionally, the Company has filed an extension for their quarterly report while they implement the necessary compliance controls including but not limited to; books and records and standard operating procedures as they transition the acquisition from a private business to a wholly owned subsidiary of PNTV.
Aphria Inc. (TSX:APH) (OTCQB:APHQF) announced this week that it has entered into a supply agreement (the "Agreement") with the Nova Scotia Liquor Corporation ("NSLC") to provide a range of high-quality branded cannabis and cannabis derivative products for sale in Nova Scotia's adult-use market starting on October 17, 2018. "Today the NLSC has ensured that Nova Scotia's adult-use consumers will have access to our thoughtfully developed brands and products come October 17 ," said Jakob Ripshtein, Chief Commercial Officer at Aphria. "We are seeing tremendous momentum as provincial liquor boards and cannabis authorities across the country continue to respond favourably to our extensive range of product offerings. Each of our brands have been carefully developed to meet the needs and interest of distinct consumer segments, and we look forward to ensuring an ample supply is available to consumers in Nova Scotia and across the country.".
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