Innovative hemp and cannabis corporation Marijuana Company of America Inc. (OTC: MCOA) this morning announced that it has filed an application with the OTC Markets Group to uplist to the OTCQB Venture Market. Additionally, the company intends to file a Form S-1 with the Securities and Exchange Commission in conjunction with an anticipated equity line of financing that will allow MCOA, once the S-1 is effective, to raise up to $10 million. Per the update, the company’s application to uplist to the OTCQB Venture Market is a condition for both the equity line of financing and the Form S-1 registration statement. “Our goal is to obtain the necessary capital through our S-1 to capitalize on the host of opportunities available in the cannabis and hemp industry right now,” Donald Steinberg, president and CEO of MCOA, stated in the news release. “Also, moving to a higher OTC Markets reporting tier will help to provide better access to institutional investors, broaden our shareholder base, and provide greater credibility with the Company’s partners, clients, stakeholders, and customers, as well as with the wider investment community.”
To view the full press release, visit http://cnw.fm/a4U2w
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. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
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