- 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 “Companyâ€) (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
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