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Clone Production at Marijuana Company of America’s $MCOA Scio Oregon Hemp Project Underway – Hemp Growers License Renewed for 2019 $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 8:22 AM on Thursday, January 10th, 2019
  • Clone production for the 2019 season at their Scio, Oregon High Yielding CBD Hemp project is now in high gear, in preparation for an “as early as possible” planting this year
  • Unlike 2018, which had a late start to planting due to delays in finalizing the acquisition of the project’s 109 acre farm, preparations are underway so that planting of this year’s crop can begin in late May to early June.

ESCONDIDO, Calif., Jan. 10, 2019 – via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and cannabis corporation, and its Joint Venture partner Global Hemp Group Inc. (CSE: GHG/ OTC: GBHPF/ FRA: GHG) are pleased to announce that clone production for the 2019 season at their Scio, Oregon High Yielding CBD Hemp project is now in high gear, in preparation for an “as early as possible” planting this year. Unlike 2018, which had a late start to planting due to delays in finalizing the acquisition of the project’s 109 acre farm, preparations are underway so that planting of this year’s crop can begin in late May to early June. This will provide an additional 45 to 60 days of growing time compared to last year, allowing time for the hemp plants to get considerably larger, which will generate a greater quantity of biomass.

For 2019, the project will cultivate three hemp strains which will offer high CBD content, substantial biomass yield, and ultra low THC levels, along with superior pest resistance and disease tolerance. These strains also have a shorter flowering period, which will allow for an earlier harvest, before the usual Fall rainy season begins in the region.

The hardiest phenotypes were selected for mother plants that will feed the cloning process, which began back in November 2018 soon after the recent harvest and drying operation was complete. This cloning operation will produce the approximately 40,000+ clones required to plant on the farm’s lower 35 acres.

The Scio team is now upgrading the lighting and electrical in the greenhouses for continued expansion of the cloning operation.  It is expected that the cloning operations will produce an excess of clones beyond what is required for the Scio project, which will allow for the sale to other farms in the area. The team continues to talk with local farmers that are interested in partnering to cultivate hemp for the coming season. On-site clone operations will eliminate the need of capital outlay to purchase clones from other growers as was required in 2018 as the result of the late start, an expense of over US$200,000.

In addition, the project’s operating company, Covered Bridge Acres (CBA), has received its registration to cultivate hemp for 2019 from the Oregon Department of Agriculture. Also, for the 2019 season, CBA is now registered to produce or handle agricultural hemp seed, so that the company can establish a breeding program that will potentially generate additional revenue for the project.

Management is currently searching for an offsite warehouse to store biomass and complete hammer mill processing of the material produced from the 2018 harvest. Once the location has been secured, CBA will complete its Land Use Compatibility Statement (LUCS) and apply for its 2019 Industrial Hemp Handler registration that will enable CBA to further process (extract) its material. Management is in ongoing discussions with several potential off takers and processing partners in an effort to monetize the 2018 biomass and prepare for the upcoming 2019 season which will produce significantly more material.

About Marijuana Company of America, Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™â€, that 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 recreations 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.

About Our 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.

About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG), is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The Company is headquartered in Vancouver, British Columbia, with hemp cultivation operations in New Brunswick and Oregon. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company’s Hemp Agro-Industrial Zone (HAIZ) strategy.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWire/MCOA

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

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Posted in All Recent Posts, Featured, Marijuana Company of America | Comments Off on Clone Production at Marijuana Company of America’s $MCOA Scio Oregon Hemp Project Underway – Hemp Growers License Renewed for 2019 $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Marijuana Company of America $MCOA Announces Filing of Registration Statement on Form S-1 to Receive up to $10M to Fund Expansion $AERO $CBDS $CGRW $APH.ca $GBLX

Posted by AGORACOM-JC at 10:16 AM on Thursday, December 27th, 2018
15233 mcoa
  • Filed a Form S-1 Registration Statement with the U.S. Securities and Exchange Commission (SEC)
  • The Company’s registration statement included a prospectus pertaining to the resale of up to 500,000,000 shares of its Common Shares, issuable to K&J Funds, LLC, a selling stockholder, pursuant to a “put right”
  • Agreement permits the Company to “put” up to ten million dollars ($10,000,000) in shares of its common stock to K&J over a period of up to thirty-six months or until $10,000,000 of such shares have been “put.”

ESCONDIDO, Calif., Dec. 27, 2018 – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and cannabis corporation, is very pleased to announce that it has filed a Form S-1 Registration Statement with the U.S. Securities and Exchange Commission (SEC). This is an important step in helping the Company to raise the necessary capital to fund its projects and expand its operations in 2019.

The Company’s registration statement included a prospectus pertaining to the resale of up to 500,000,000 shares of its Common Shares, issuable to K&J Funds, LLC (“K&J”), a selling stockholder, pursuant to a “put right” under an investment agreement (the “Investment Agreement”), dated December 20, 2018, that the Company entered into with K&J. The Investment Agreement permits the Company to “put” up to ten million dollars ($10,000,000) in shares of its common stock to K&J over a period of up to thirty-six months or until $10,000,000 of such shares have been “put.”

The total amount of shares of common stock that can be sold in the prospectus would constitute approximately 20.08% of the Company’s issued and outstanding common stock, assuming that the selling security holder will sell all of the shares offered for sale.

Don Steinberg, CEO stated: “We are extremely excited to have K&J as our financial partner for MCOA. They understand the history of the Company, our clear vision for the future and the enormous market within our reach, as reflected by this substantial commitment. This funding will give us the capital needed to expand our hempSMART brand into Europe and Asia in 2019 and prepare for our continued expansion into the hemp industry as a grower and processor in California and other areas.”

“We are happy that we are moving away from relying on convertible debt financing with variably priced conversion terms that are less favorable to our shareholders to equity financing. This will show the strength of our market capitalization and help to build a stronger balance sheet as we continue to execute our aggressive growth plans for 2019. I believe our shareholders will begin to fully appreciate our long-term strategy as we continue to realize an increase in revenue from our significant investments over the last couple of years”, said the Company’s CFO, Jesus Quintero.

This is the culmination of several steps including the filing of Form 10, filing all SEC quarterly and annual filings timely, completing several financial statement audits by a PCAOB registered firm, appointing independent directors and uplisting to the OTCQB. The Company is executing its business plan and will continue to do so with its operational initiatives in 2019 with the necessary capital in place.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. The registration statement is contingent upon it being made effective after review by the SEC. This press release is not an offer for the sale of securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent an SEC effective registration or an exemption from registration under the United States Securities Act of 1933, as amended.

About Marijuana Company of America, Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™â€, that 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 recreations 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.

About Our 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.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWires/MCOA

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

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Posted in Marijuana Company of America | Comments Off on Marijuana Company of America $MCOA Announces Filing of Registration Statement on Form S-1 to Receive up to $10M to Fund Expansion $AERO $CBDS $CGRW $APH.ca $GBLX

Marijuana Company of America $MCOA Poised for Significant Growth with Passage of Farm Bill $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 8:14 AM on Friday, December 21st, 2018
  • Extremely optimistic about the Company’s current and future endeavors with the recent passing of the 2018 Farm Bill on December 20 after an 87 to 13 majority vote in the Senate and a 369 to 47 majority vote in the House and final approval by President Trump.

Escondido, California–(December 21, 2018) – MARIJUANA COMPANY OF AMERICA INC. (OTCQB: MCOA) (“MCOA” or the “Company“), an innovative hemp and cannabis corporation, is extremely optimistic about the Company’s current and future endeavors with the recent passing of the 2018 Farm Bill on December 20 after an 87 to 13 majority vote in the Senate and a 369 to 47 majority vote in the House and final approval by President Trump.

The beginning of 2019 boasts an expectational opportunity for the hemp industry generally. The industrial hemp plant and its extracts, including Cannabidiol (CBD), containing less than 0.3 percent of THC, will be removed from its shadowy label as a Schedule 1 Drug and will be made a legal commodity to cultivate and distribute throughout the United States, subject to farmers’ compliance with provisions of the Farm Bill, associated federal regulations, associated state regulations and licensing.

According to the Brightfield Group’s Hemp CBD Report of 2018, “With the passing of the 2018 Farm Bill … the market is expected to grow exponentially, outpacing the rest of the cannabis market combined to reach $22 billion by 2022.”

The Company owns and operates a vertically integrated portfolio powered by its Industrial CBD hemp farm in Scio, Oregon, and the manufacturing and distribution of Industrial hemp derived CBD products via its wholly owned subsidiary hempSMART™. The passing of the 2018 Farm Bill will allow MCOA to rapidly scale its acreage of high yielding Industrial CBD hemp and increase its market share involving the sale of its CBD based product formulations.

Certain roadblocks currently facing our industry are expected to hopefully be removed soon, such as our access to federal insured banking systems, merchant processing, insurance, and ability to register intellectual property. One of the most significant benefits is that this new bill will help to lower federal income tax as Section 280E of the Internal Revenue Code will no longer apply to the sale of CBD. All of these developments will help to significantly open the Company’s distribution networks and materially enhance the Company’s financial performance.

Donald Steinberg, Chief Executive Officer of the Company, stated, “MCOA and our subsidiaries are anxious to take full advantage of opportunities that passage of the Farm Bill provides to the Company. 2019 will be a year of international expansion for our hempSMART product line. We believe the new Farm Bill may also establish a precedence for other countries worldwide to adopt similar laws, which will allow us the opportunity to expand more internationally.”

About Marijuana Company of America, Inc.

MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that 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 recreations 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.

About Our 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.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com

hempSMART.com

NetworkNewsWires/MCOA

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

Tags: ,
Posted in Marijuana Company of America | Comments Off on Marijuana Company of America $MCOA Poised for Significant Growth with Passage of Farm Bill $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Marijuana Company of America $MCOA Announces New hempSMART(TM) Website and Sales Platform $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 8:33 AM on Tuesday, December 11th, 2018
  • Announced the launch of a new corporate hempSMART™ website and marketing platform for its associates
  • By implementing this new associate platform, hempSMART’s customers now have the ability to subscribe monthly to our products creating a pathway to generate an annuity stream of monthly reoccurring revenue with minimal follow up.

Escondido, California–(December 11, 2018) – MARIJUANA COMPANY OF AMERICA INC. (OTC Pink: MCOA) (“MCOA” or the “Company“), an innovative hemp and cannabis corporation, is pleased to announce the launch of a new corporate hempSMART™ website and marketing platform for its associates.

By implementing this new associate platform, hempSMART’s customers now have the ability to subscribe monthly to our products creating a pathway to generate an annuity stream of monthly reoccurring revenue with minimal follow up. Since Q3, the Company has already seen an increase in associate signups with the new marketing platform and it is expected that Q4 of 2018 will feature the highest generated revenue of the Company’s history.

The new hempSMART platform is focused on incentivizing our current and future associates to take full advantage of our newly structured compensation plan. MCOA anticipates an increase in sales and a continuous influx of associate signups towards year end.

Donald Steinberg, MCOA’s CEO, stated, “As we start the hempSMART global expansion, it was imperative to have a platform able to facilitate a large number of affiliates with different currencies and languages. This platform provides our affiliates with the latest in marketing software to allow them to take advantage of all social media outlets. With my background in establishing large global marketing and distribution companies, I am confident this platform will allow us to focus on growth. We have a good solid company with an excellent team, and we have developed great industrial hemp based CBD infused products which are garnering acclaim from many sources. In addition, we have an affiliate marketing program that is structured to provide long term residual income from a global marketplace. It is for all of these reasons that I believe our company is now set for long term growth.”

The Company is also highly optimistic about the imminent passage of the Farm Bill by Congress, which will help the Company obtain better banking relationships as well as give more overall awareness to the hempSMART brand and products.

About Marijuana Company of America, Inc.

MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that 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.

About Our 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.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWires/MCOA

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

Tags: , ,
Posted in All Recent Posts, Marijuana Company of America | Comments Off on Marijuana Company of America $MCOA Announces New hempSMART(TM) Website and Sales Platform $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Harvest Update at Marijuana Company of America’s $MCOA CBD Hemp Project in Scio Oregon $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 8:25 AM on Tuesday, November 27th, 2018

15233 mcoa

  • Provide an update on the harvest at their high yielding CBD hemp project in Scio, Oregon.
  • 2018 Scio cultivation consisted of 33 acres of high yielding CBD hemp (utilizing six different cultivars with an expected CBD content ranging from 6% to 12%), grown in an orchard style cultivation on the property.

Escondido, California–(November 27, 2018) – MARIJUANA COMPANY OF AMERICA INC. (OTC Pink: MCOA) (“MCOA” or the “Company“), an innovative hemp and cannabis corporation, and its joint venture partner Global Hemp Group (CSE: GHG) (OTC Pink: GBHPF)  (FSE: GHG) are pleased to provide an update on the harvest at their high yielding CBD hemp project in Scio, Oregon.

The 2018 Scio cultivation consisted of 33 acres of high yielding CBD hemp (utilizing six different cultivars with an expected CBD content ranging from 6% to 12%), grown in an orchard style cultivation on the property. With the help of near perfect weather in the region that extended the harvest period by several weeks, the hemp crop had the opportunity to grow to full maturity, allowing the team to completely harvest all of the plants before the fall rains began in the valley. For pictures from this season’s cultivation, please visit the Scio project page on MCOA’s corporate website here: http://marijuanacompanyofamerica.com/scio-oregon/

Innovation was the key to overcoming various challenges throughout the year, but the team in Scio was able to find solutions when required. Our team consists of a number of talented crew members trained in a variety of skill sets, including metal fabrication, fine carpentry, and large equipment operation. With the help of a number of knowledgeable advisors, the team set up, built, and operated the project themselves.

The Harvest

Figure 1. 2018 Harvest

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5634/41264_3b85e8ddf4632858_001full.jpg

This year’s harvest consisted of approximately 37,000 high yielding CBD hemp plants producing 24 tons of biomass. Harvesting this year was done by hand, making it extremely labor intensive and time consuming. However, the team developed a number of solutions that will automate both the harvesting and planting for next year’s crop. Ultimately, the goal is to completely automate these processes, making it more efficient and less costly to complete. The team has now begun working on prototypes to automate the harvesting processes and expect to have machinery ready for use next season.

Drying

Figure 2. Crop Drying

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5634/41264_3b85e8ddf4632858_003full.jpg

 

Figure 3. Greenhouse Space

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5634/41264_3b85e8ddf4632858_004full.jpg

A number of different drying techniques were employed with this year’s harvest. In the end, “old school” hanging techniques proved to be the most effective and efficient. Drying took place in the farm’s larger 20-foot-high, 4,000 sq. ft. greenhouse which allowed for an increased quantity of plants being dried at any one time. Drying took approximately 36 to 48 hours to achieve the levels required for storage and ultimately extraction. With each successive batch of drying, techniques were improved to increase the volume of biomass being dried in the greenhouse, while decreasing the time that it took to hang and dry it.

Results

The drying process for all of the hemp harvested is now complete, and is stored awaiting further processing. The farm produced 48,000 pounds of dried biomass, which is stockpiled in quarter ton super sacks, stacked three bags high and requiring approximately 4,000 sq. ft. of storage space. Despite the late start in planting this season, the hemp plants still achieved sufficient size to produce the anticipated quantity of biomass. It is expected that in 2019, planting will begin June 1st giving the hemp an addition 30-45 days of growing time. This will produce much larger plants, resulting in significantly larger quantities of biomass.

Further Processing

The Partners acquired a hammermill to complete the next level of processing, prior to the biomass going for extraction of the cannabinoids. Processing will begin shortly, once electrical work is complete to run the hammermill. This next level of processing will not only prepare the biomass for extraction of cannabinoids, but will also reduce the storage space requirements by more than 50% as the bulk of the plants is reduced in size.

Extraction

The Partners are currently exploring opportunities to joint venture with others that have expertise in the cannabinoid extraction business, so that an extraction facility can be set up onsite to process this year’s harvest. Biomass is currently selling for between US$3.00 and US$4.00 per pound. By taking the biomass to the next level of processing, further value will be created.

About Marijuana Company of America, Inc.

MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that 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 recreations 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.

About Our 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.

About Global Hemp Group Inc.

Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FSE: GHG), is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The Company is headquartered in Vancouver, British Columbia, with hemp cultivation operations in New Brunswick and Oregon. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company’s Hemp Agro-Industrial Zone (HAIZ) strategy.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWire/MCOA

Corporate Communications Contact:

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

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Posted in Marijuana Company of America | Comments Off on Harvest Update at Marijuana Company of America’s $MCOA CBD Hemp Project in Scio Oregon $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Investment in Recreational #Marijuana on the Rise $BOG.ca $NBUD.ca $MCOA $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 1:58 PM on Tuesday, November 20th, 2018

 

  • Drink companies and other investors have begun making moves to profit from the cannabis industry through a series of M&A deals.
  • In Canada, the recent legislation of use of recreational cannabis use has given a boost to the adoption of the industry in North America, as well as the US midterms which saw Attorney General Jeff Sessions (opposed to legalization of cannabis) step down.

Jimmy Aki

In the United States, medical marijuana is currently legal in 30 states. Only nine states and Washington have legalized recreational marijuana for users above the age of 21 years.

Canada and America are very important for the growth of the industry as both countries currently contribute 90% of the global revenues. To take advantage of the sector, American companies have enlisted a little-known strategy known as ‘reverse merger’ to grow their operations.

Source: Shutterstock

Canadian Funds

Reverse Mergers, also known as Reverse Takeovers (RTO), are a speedy way of becoming a publicly traded company and have been on the increase due to the frenzy around the sector. They are used by private firms who acquire a publicly traded company (or a shell company), thereby becoming publicly traded without going through an Initial Public Offering (IPO).

For American firms, Canada remains a popular destination for raising capital, for an industry that is still federally illegal in the US. These firms going through this route can skip the troubles they would have faced if they had sought the traditional IPO route.

These include registration and vetting process from the Canadian Securities Administrators (Canada’s version of the SEC) and investment bankers, who will drill into the finances and barge the company with a ton of questions.

2018 has witnessed over 200 M&A deals in the cannabis sector, according to data from cannabis-focused analytical firm Virdian Capital Advisors. California based cannabis dispensary provider MedMen, whose high-end dispensaries have been compared to Apple stores, went public in May after purchasing Ladera Ventures—a Vancouver based oil and gas shell company, through an RTO.

The company also acquired PharmaCann in a $682 million stock transaction, doubling its market share overnight. MedMen’s competitor iAnthus has also been busy making deals, picking up Canadian diversified cannabis firm MPX Bioceutical in a major $640 million deal.

Entrant of Breweries

For an industry whose market cap was a little over $5 billion market in 2015, with an estimated projection expected to hit a conservative $20 billion by 2020, the market for the emerging cannabis sector can only get better.

The industry could witness an explosion when beverage companies make their long-expected entrance and replace part of their alcoholic content with cannabis. Last year, Constellation Brands, the makers of Corona beer, got into the action with a minority stake in Canadian marijuana producer Canopy Growth Corp.

Winnipeg brewery Fort Garry Brewing Co also joined forces with medical cannabis provider Delta 9 Cannabis to launch the “Legal Lager,” a beer filled with hemp seed.

According to the company’s press release at the time, the Legal Lager, which was released as “an ongoing research and development project to jointly produce a cannabis beer” that contains Tetrahydrocannabinol (THC), doesn’t contain:

“cannabis or any other psychoactive agent produced from the cannabis plant.”

Source: https://www.moneymakers.com/investment-in-recreational-marijuana-on-the-rise/

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Posted in All Recent Posts, Bougainville Ventures, Marijuana Company of America, North Bud Farms Inc | Comments Off on Investment in Recreational #Marijuana on the Rise $BOG.ca $NBUD.ca $MCOA $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Marijuana Company of America $MCOA Announces Q3 Financial Results $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 9:30 AM on Tuesday, November 20th, 2018

15233 mcoa

  • Revenue up 2984% from Q3 2017 to Q3 2018
  • Company achieved a 1057% decrease in net loss from operations from Q3 2017 to Q3 2018
  • SG&A expenses decreased by 1007% from Q3 2017 to Q3 2018.
  • Total assets increased by 42% from Q3 2017 to Q3 2018.
  • Total liabilities decreased by 259% from Q3 2017 to Q3 2018.

Escondido, California–(November 20, 2018) – MARIJUANA COMPANY OF AMERICA INC. (OTC Pink: MCOA) (“MCOA” or the “Company”), an innovative hemp and cannabis corporation, is pleased to announce the financial results for the three and nine months ended September 30, 2018. Here are some of the notable highlights for the third quarter of FY2018:

• Total revenues were $90,276 for the three quarters ended September 30, 2018, as compared to $2,927 for the three quarters ended September 30, 2017, representing a 2984% increase quarter to quarter.

• The net loss from operations decreased by 1057% from $19,047,499 for the three quarters ended September 30, 2017, to $1,801,387 for the three quarters ended September 30, 2018.

• Gross profit for the third quarter of 2018 increased to $61,839 on gross sales of $90,276 (6.5% gross margin), compared to a gross margin for the third quarter of 2017 of $986.

• Including non-cash items and one-time transactional expenses, SG&A expenses for the third quarter of 2018 decreased substantially by $17,160,679 or 1007% to $1.89 million, compared to $17.2 million for the fourth quarter of 2017.

• For the third quarter ending September 30, 2018, the Company realized the following other one-time income items: Gain cancellation of debt of $1,500,000 and a gain of $1,175,000 from the change in value of its trading securities investment in Global Payout.

• Total assets increased by 42% from $1,129,958 for the three quarters ended September 30, 2017 to $2,694,929 for the three quarters ended September 30, 2018. This increase is due primarily to the increase in value of the Company’s investment in Global Payout’s stock, which is accounted for using the trading security method of accounting as well as an increase in inventory.

• Total liabilities decreased by 259% from $11,447,710 for the three quarters ended September 30, 2018 to $4,414,752 for the three quarters ended September 30, 2018. This decrease was largely due to the decrease in liabilities related to warrants and joint venture obligations.

• Cash used by operating activities for the three quarters ending September 30, 2018 was $1,010,520, compared to cash used for operating activities of $527,412 for the quarter ended September 30, 2017. Cash used by investing activities for the three quarters ending September 30, 2018 was $631,886, compared to $702,419 for the three quarters ended September 30, 2017. Cash provided by financing activities for the three quarters ending September 30, 2018 was $1,460,067, compared to $1,082,345 for the three quarters ended September 30, 2017.

“The third quarter marked an important milestone for MCOA, as our hempSMART sales have ramped up due to our multi-pronged marketing campaign and several newly launched products. We ended the quarter strong with a revenue trend that is now largely stabilized with the strong foundation that we built. We expect sales to continue to increase through Q4 with the holiday season and into next year with our European expansion,” said Don Steinberg, MCOA’s CEO.

Jesus Quintero, MCOA’s Chief Financial Officer, said, “The strength of the third quarter results including a substantial increase in consolidated revenue and achieving a stronger balance sheet illustrates execution of our strategic plan. MCOA is positioned to deliver on increasing levels of cash flow as we seek to stack profitable recurring revenue from our monthly autobill customers while seeking to streamline production and fulfillment costs for our products.”

Further details about the Company’s financial results are available in its annual report on Form 10K, which will be available in the investor relations section of the Company’s website at www.marijuanacompanyofamerica.com.

About Marijuana Company of America, Inc.

MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that 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 recreations 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.

About Our 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 juridiction.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWires/MCOA

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

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Posted in All Recent Posts, Marijuana Company of America | Comments Off on Marijuana Company of America $MCOA Announces Q3 Financial Results $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Canada facing #marijuana shortage following legalization $BOG.ca $NBUD.ca $MCOA $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 1:04 PM on Friday, November 16th, 2018

Uncertainty over future cannabis supplies sparks fears that buyers may return to black market

Canada is running low on supplies of legal cannabis a month after laws allowing the recreational use of the drug kicked in.

According to a poll by the non-profit Angus Reid Institute, one in eight Canadians has used marijuana since it was legalised on 17 October. But with demand outstripping supply in the new regulated market, authorities fears some users may return to buying from illegal dealers.

Khurram Malik, CEO of Toronto-based cannabis company Biome Grow Inc, told Canada’s Global News that the shortages are the result of the government’s strict controls on marijuana, and the resulting time it takes for producers to develop a compliant product.

All private retailers are required to pass extensive background checks, and approved operators must order their cannabis through suppliers regulated by the provincial government.

“The rules here are so difficult to grow cannabis, quite frankly more difficult than anyone else in the world,” said Malik.

Even companies that stockpiled supplies of marijuana before it was legalised are now reporting shortages.

James Burns, CEO of Alcanna, an off-licence chain that sells the drug in the province of Alberta, told the BBC that the provincial supplier, the Alberta Gaming, Liquor and Cannabis Commission (AGLC), is out of stock on most cannabis products.

“It doesn’t matter how big you are, there’s just none there. If the government warehouse is empty, it’s empty. There’s nothing you can do,” he said.

Source: https://www.theweek.co.uk/cannabis/97848/canada-facing-marijuana-shortage-after-legislation

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Posted in All Recent Posts, Bougainville Ventures, Marijuana Company of America | Comments Off on Canada facing #marijuana shortage following legalization $BOG.ca $NBUD.ca $MCOA $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Harvest Update at Marijuana Company of America’s $MCOA #CBD Hemp Project in New Brunswick $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 5:19 PM on Thursday, November 15th, 2018

15233 mcoa

  • The 2018 cultivation consisted of 125 acres contracted from four farmers in the northeast region of NB, utilizing three Health Canada approved cultivars with an expected CBD content of 1.5% to 2.5%.
  • This group of enthusiastic and innovative farmers was of great assistance to the project over the course of the season.

ESCONDIDO, Calif., Nov. 15, 2018 – via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and cannabis corporation, and its joint venture partner Global Hemp Group Inc. (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) (the “Partners”) wish to provide an update on the harvest at their CBD hemp project in New Brunswick (“NB”), Canada.

The 2018 cultivation consisted of 125 acres contracted from four farmers in the northeast region of NB, utilizing three Health Canada approved cultivars with an expected CBD content of 1.5% to 2.5%. This group of enthusiastic and innovative farmers was of great assistance to the project over the course of the season. Harvesting of hemp for cannabinoid extraction required some innovation to handle both the harvesting and initial processing of the hemp. Dr. Paul Perrault, GHG Director and New Brunswick Project Manager stated, “We want to thank the farmers for their creativity and willingness to find solutions to the challenges that arose as we worked through the harvesting and drying process for this year’s cultivation.”

The harvest in NB has been completed. In order to process the hemp for cannabidiol (“CBD”) the first step in the process is drying the biomass. The team set up three drying facilities, the main industrial-scale biomass dryer located at the group’s facility in Bathurst (as announced August 30, 2018), and two smaller refurbished tobacco kilns were installed onsite at two of the farms. The auxiliary drying units installed on the farms arrived later in the season are currently being made ready to be operational for use in the 2019 growing season.

The Partners now have 17.5 tonnes of dried biomass in storage from this year’s harvest, a yield lower than expected due to weather issues, some minor pest issues and a bottleneck in processing the harvested hemp material. In order to address the processing issues encountered in this year’s operations, members of the engineering department of the Collège Communautaire du Nouveau Brunswick (CCNB) were brought in to assist in identifying solutions to expedite harvesting and increase efficiency in the processing of the hemp. With the assistance of CCNB we expect to improve the harvesting system to minimize straw intake at harvest and to adapt the tobacco kilns to processing hemp tops. Discussions are underway with CCNB to formalize this collaboration around two projects on harvesting and processing which will involve the current group farmers. Their experience will be invaluable in this research.  In addition, with the advent of the additional tobacco dryers, decentralized drying and storage at the farm level will be introduced for the 2019 cultivation. Such additional dryer capacity at the farm level will reduce the drying bottleneck experienced this year and will minimize the Company’s carbon footprint by significantly reducing the transport cost of moving tons of moisture laden material.

The Partners are now evaluating how best to monetize this year’s harvest. At this point they have had discussions with a number of potential purchasers of the biomass.

The 2018 hemp cultivation provided the group with a tremendous amount of knowledge and experience from this year’s larger scale operation. The Partners continue to be committed to hemp cultivation and processing in northeastern New Brunswick. We are convinced significantly better results can be achieved with improved genetics and further refinement of farming and processing practices. Industrial hemp cultivars containing 4-5% CBD already on trial in NB would more than double the performance of current cultivars used in 2018, but have not yet been registered for use as a Health Canada approved cultivar.

About Marijuana Company of America, Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™â€, that 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 recreations 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.

About Our 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.

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 www.sec.gov.

For more information, please visit the Company’s websites at:

MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWire/MCOA

Corporate Communications Contact: 
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]

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Posted in All Recent Posts, Marijuana Company of America | Comments Off on Harvest Update at Marijuana Company of America’s $MCOA #CBD Hemp Project in New Brunswick $AERO $CBDS $CGRW $APH.ca $GBLX $ACG $ACB $WEED.ca $HIP.ca

Revenues at #Cannabis Startups Surge as Demand Begins to Outstrip Supply $BOG.ca $NBUD.ca $MCOA $ACG.ca $ACB $WEED.ca $HIP.ca

Posted by AGORACOM-JC at 10:51 AM on Wednesday, November 14th, 2018

By Kevin Kelleher

7:30 PM EST

Three of the largest cannabis companies reported earnings this week, painting a portrait of a nascent industry enjoying surging demand as recreational pot becomes legalized in more places—but they’re also encountering some growing pains.

Aurora Cannabis said Monday its revenue rose 260% to $29.7 million Canadian dollars (US$22 million). Net income came in at C$105.5 million, up from C$3.56 million a year ago, largely because of unrealized gains on securities.

On Tuesday, Tilray said revenue rose 86% to C$10 million, while its net loss increased to C$19 million from C$1.8 million a year ago, driven largely by an increase in non-cash stock-based compensation charges.

Also on Tuesday, Cronos Group said revenue in the third quarter rose 186% to C$3.8 million, compared with C$1.3 million a year ago. Cronos lost 4 Canadian cents per share.

Both Tilray and Cronos said that the average price of weed per gram declined. Tilray attributed the decline to an increase in bulk sales as a percentage of total revenue.

However, the price of cannabis could increase in the future because demand is beginning to outstrip supply as Canada and many U.S. states have legalized marijuana. Much of the cannabis sales the three companies reported last quarter came from medicinal marijuana.

“Similar to other Canadian LPs, we are facing demand that outstrips supply,” Aurora’s chief corporate officer Cam Battley said during the company’s earnings conference call. “We anticipate this dynamic to continue for some time.”

Cannabis stocks surged through most of 2018 before encountering a selloff, once pot became legal in Canada, in a classic buy-on-rumor, sell-on-news scenario. Investors appear to be remaining cautious, despite the strong revenue growth last quarter. On Tuesday, Aurora’s stock on the NYSE fell 3.7%, while TIlray fell 1.9% and Cronos fell 1.7%.

Source: http://fortune.com/2018/11/13/revenue-cannabis-startups-surges-demand-outstrip-supply/

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