Innovative hemp and cannabis corporation Marijuana Company of America Inc. (OTCQB: MCOA) and Global Hemp Group (CSE: GHG) (OTC: GBHPF) (FRA: GHG), its joint venture partner, today announced that they are in current negotiations with several Oregon-based cannabinoid extraction companies regarding the acquisition of the joint venture’s hemp biomass produced at the Scio farm from the 2018 harvest. Per the update, the Scio farm team has prepared processing samples ranging in size from 100 lbs. to 2,000 lbs. for the extraction companies. The biomass is being processed into CBD crude oil, with the option to further refine it into isolate or full spectrum oil in order to increase its market value. The partners expect current extraction test batch results by mid-April, which will serve as a basis for the final terms of the biomass sale.
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About Marijuana Company of America Inc.
MCOA participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART, which 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. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
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