Innovative hemp and cannabis corporation Marijuana Company of America Inc. (OTCQB: MCOA) today announced that its board of directors and stockholders, in a meeting held on July 1, 2019, approved a reverse split of its issued and outstanding common stock at a ratio of 1-for-60. According to the update, the reverse split is intended to provide MCOA with greater flexibility in considering and planning for future business needs, as well as increasing its common stock per-share trading price to satisfy the minimum requirement for continued OTCQB listing. Per the Amended Certificate to MCOA’s Certificate of Incorporation, the reverse stock split will go into effect at 12:01 a.m. ET on July 31, 2019. Subject to FINRA approval, MCOA expects that, upon opening of trading on August 1, 2019, its common stock will trade on a split-adjusted basis with a new CUSIP number under current trading symbol ‘MCOA’.
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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, 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
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