Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) this morning announced its entry into a Letter of Intent (“LOI”) with Essence Farms, LLC to form a joint venture (“JV”) called the Riverside Hemp Project. According to the update, the focus of the JV is to run California farming operations for the purpose of growing, cultivating, manufacturing, extracting and selling legal hemp and hemp-derived CBD. “MCOA strives to be a leader in producing and distributing hemp, and we believe this joint venture will allow the Company to further its vision by establishing itself as a premier company in the hemp sector,” Marijuana Company of America CEO Don Steinberg said in the news release. “With the ongoing return of net profits this project is expected to provide MCOA, we are confident that signing this Letter of Intent is another strategic step for the Company and we look forward to expanding further in both the cannabis and hemp markets in California. If all goes according to plan, this will by far be the most financially successful venture the Company has been involved in.”
To view the full press release, visit http://cnw.fm/A9Wwe
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.
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
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