- Edward Manolos brings significant industry experience to the company
- Manolos opened the first medical marijuana dispensary in Los Angeles County in 2004
- Industry revenue is expected to reach $24.5 billion by 2021
Marijuana Company of America Inc. (OTCQB: MCOA), an industrial hemp company involved in the cultivation and distribution of hemp-derived products, recently announced the appointment of Edward Manolos as an independent director.
Joining the MCOA team of seasoned industry leaders, Manolos brings a wealth of knowledge and experience. In 2004, he opened the first-ever medical marijuana dispensary in Los Angeles County, and he is viewed (http://cnw.fm/XnPm9) as one of the “most accomplished pioneers in the medical marijuana industry.” Additionally, he is credited with starting Los Angeles’ first medicinal marijuana farmers’ market, known as the California Heritage Market, which attracted local and international media attention.
Manolos’ industry presence has been significant and varied. He has been a member of Marijuana Medical Company of America’s strategic advisory board since 2016 and has also founded several successful companies, including Everest Biosynthesis Group and Natural Plant Extracts USA (“NPE”), a significant cannabis manufacturer, distributor and retail-delivery company holding multiple licenses within the sector. He has also served as a consultant to several companies within the industry, including Cannabis Strategic Ventures (OTC: NUGS), helping these companies obtain marijuana retail and production licenses in California and Washington.
“Appointing Edward, a seasoned veteran of the cannabis industry, to our Board of Directors strategically positions us to launch our cannabis division,” Donald Steinberg, MCOA CEO, stated in a news release (http://cnw.fm/i3K7F). “His expertise in obtaining cannabis licenses, cannabis cultivation and the distribution of finished products is crucial to the development of our new subsidiary, Viva Buds, and any future projects involved in this evolving industry.”
Manolos’ appointment comes at an exciting time for the market. The cannabis and hemp industries have seen remarkable, exponential growth that is expected to continue. One major contributor to this growth has been the World Health Organization’s finding that the chemical compound cannabidiol (CBD) is nonaddictive and generally safe. In 2017, the organization officially recommended that CBD no longer be internationally scheduled as a controlled substance.
Since then, public approval of legal access to medical and recreational marijuana has grown. Industry revenue has mirrored this growth and is anticipated to more than double over the next four years at a 28 percent compound annual growth rate, reaching $24.5 billion by 2021 (http://cnw.fm/tZQt7).
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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