- Company recently launched wellness products and an affiliate opportunity in the UK
- Extraction test batches are expected to help determine the final sales terms for the company’s 2018 harvest
- MCOA is currently focused on the production of approximately 50,000 clones and the early stages of micropropagation techniques
- Company seeks to take advantage of every profit point, from seed to finished product
As an umbrella company, Marijuana Company of America Inc. (OTCQB: MCOA) provides turnkey services to the legal cannabis and industrial hemp industries by delivering recognized brands through unique marketing and distribution subsidiaries. In the last few months, the company has announced an affiliate program and updated investors on the progress of a joint venture focused on the extraction of its 2018 hemp crop. The company is also working toward cloning the 2019 hemp crop, with its eyes on additional scientific advances for an even higher yield in the future. Strategically, MCOA is focusing on creating green, sustainable hemp-based products and technologies that provide a lasting positive impact.
The company officially launched its hempSMART wellness products and affiliate opportunity in the United Kingdom during a March event in London. hempSMART’s wellness and personal care products are created from organically grown, hemp-based CBD and synergistic botanicals. The company’s launch opportunity included an in-depth overview of the CBD industry, as well as marketing and compensation plans for associates interested in beginning their own businesses. hempSMART is encouraging new global affiliates to join in the company’s vision of promoting physical, financial and planetary health.
On April 1, the company and its joint venture partner, Global Hemp Group, provided an update regarding the processing of the 2018 hemp harvest from the joint venture’s Scio farm, as well as the cloning process for the 2019 harvest and planned expansion (http://cnw.fm/cc7pJ).
The release notes that the Scio farm team has prepared processing samples from the 2018 harvest for several Oregon-based extraction companies. The samples range in size from 100 lbs. to 2,000 lbs. Results from the extraction test batches are expected within the next week or two. These results will help determine the final terms of the sale of the harvested hemp biomass. Local farmers have also expressed an interest in working with the joint venture to grow hemp in 2019. The company is evaluating this opportunity and others as it looks to expand operations in Oregon.
In addition, the farm team is working toward production of approximately 50,000 clones. These clones are expected to reduce and possibly eliminate the need to acquire additional seeds or clones. Once the needed number of clones are produced from the initial 400 “mother” plants, they will be relocated to the propagation greenhouse to root. When viable, the clones will be planted on the lower 35 acres of the Scio farm for the 2019 season. The planting is expected to take place in late May or early June.
MCOA has also begun preliminary exploration into the micropropagation of hemp plants. The company believes that micropropagation techniques can more efficiently provide plants with higher-yielding and more profitable CBD content than seeds or cloning.
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
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.