- Announced that the Company’s manufacturing and distribution facility for its Viva Buds cannabis delivery service is expected to be completed and fully functional by August 2019.
- Announced in April that it had acquired a 20% ownership interest in Natural Plant Extract of California to establish a joint venture to create Viva Buds Inc., a unique cannabis delivery service based in Los Angeles, California.
ESCONDIDO, Calif., July 02, 2019 – MARIJUANA COMPANY OF AMERICA INC. (“MCOA†or the “Companyâ€) (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced that the Company’s manufacturing and distribution facility for its Viva Buds cannabis delivery service is expected to be completed and fully functional by August 2019.
MCOA announced in April that it had acquired a 20% ownership interest in Natural Plant Extract of California (“NPEâ€) to establish a joint venture to create Viva Buds Inc., a unique cannabis delivery service based in Los Angeles, California.
“We are making tremendous progress through our partnership with NPE and the rollout of our licensed cannabis manufacturing facility,†said Mr. Edward Manolos, Board Member of MCOA. “Our commitment to compliance will put Viva Buds ahead of the competition in California at a time when many license holders are still awaiting permits. Such permits are difficult to attain for manufacturers currently using volatile extraction methodologies, due to stringent regulations on California’s Manufactured Cannabis Safety.â€
“Our joint venture partnership with NPE will allow us to become more competitive within the bourgeoning cannabis industry in Southern California,†said Mr. Don Steinberg, CEO of MCOA. “Once completed and launched, Viva Buds will offer consumers a line of high-quality products at low prices along with the ability to build their own personal cannabis business.â€
The Lynwood, California manufacturing facility is licensed for the volatile manufacturing, distribution and retail delivery of cannabis products. NPE’s volatile manufacturing process is an efficient and cost-effective extraction process that will help distinguish NPE from others that use extraction.
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™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 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 Natural Plant Extracts of California
NPE
is a fully licensed cannabis manufacturing, distribution and non-store
front retail delivery. The Company has secured its licenses with the
state of California and city of Lynwood, CA. For more information about
the Company, please visit its website at https://nldistribution.com
The owners and founders of NPE are marijuana industry veterans with
decades of experience in establishing retail, manufacturing and
distribution of cannabis in California, including obtaining the first
retail dispensary licenses in Los Angeles, CA.
Legal Status of Cannabis
While legalized in
California for recreational and medicinal use, cannabis remains a
Schedule 1 drug under the Controlled Substances Act (21 U.S.C. § 811)
and illegal under the federal law.
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.
Contact:
[email protected]
888-777-4362
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
For more information, please visit the Company’s websites at:
MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWire/MCOA
