Marijuana Company of America (OTCQB: MCOA), based in Escondido, California and focused on cannabidiol (“CBD”) products, together with Cannabis Global Inc. (OTC: CBGL), an innovation-oriented company investing in disruptive cannabis and hemp-related technologies, on Thursday issued a joint letter to shareholders. Recently, the companies entered into an agreement wherein each became the largest shareholder of the other. As a result, CBGL owns 650 million shares of MCOA and MCOA owns just over 7.2 million shares of CBGL. The transaction intends to promote the growing common interests and collaborations between the two pioneering cannabis and CBD operations. The update reads, “Both companies have recently enhanced their programs to maximize shareholder value. MCOA is aggressively overhauling its marketing strategy, rapidly expanding its product line’s geographic reach, and revamping its capital and debt structures. The two companies have agreed to collaborate in several areas, including expanding product offerings in Europe and Latin America and developing Cannabis Global’s Project Varin designed to discover and market new methods to infuse hemp extracts and cannabis into food, beverages, and other consumer products.”
To view the full press release, visit https://cnw.fm/4Stme
About Marijuana Company of America Inc.
MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART(TM), which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. For more information, visit 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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