Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) today announced its entry into a letter of intent with Natural Plant Extract of California (“NPE”) and its subsidiary, Northern Lights Distribution, LLC (“NLD”), to acquire a 20 percent ownership interest in NPE and establish a joint venture to operate a California cannabis delivery service named Viva Buds. Per the update and under the terms of the LOI, MCOA will contribute $2,000,000 in total cash to the project, as well as common shares with a value of $1,000,000 in exchange for its 20 percent equity position in NPE. In addition, MCOA and NPE will share 50/50 profits from the formation of the JV to operate Viva Buds. “This partnership will enable MCOA to establish itself as a major player in the Cannabis arena,” MCOA CEO Donald Steinberg stated in the news release. “All licenses are in place to allow for vertical integration from farm to consumer. We are excited to expand our business model to now include marketing our new THC brand Viva Buds through our fully licensed partner NPE. The NPE team has a great deal of industry knowledge and has an industry disruptive business model. This is a huge strategic move for MCOA!”
To view the full press release, visit http://cnw.fm/6hGcn
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.
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000
For more information please visit https://www.CannabisNewsWire.com
Do you have a questions or are you interested in working with CNW? Ask our Editor