- MCOA signed a letter of intent with Northern Lights Distribution and Alpha Private Equity & Capital to form Magnolia Extracts
- The joint venture aims to expand large-scale operations surrounding the delivery, distribution and manufacture of cannabis products
- MCOA earlier acquired a 20 percent equity interest in and signed a JV with Natural Plant Extract of California
Marijuana Company of America Inc. (OTCQB: MCOA), a hemp and cannabis corporation, has signed an LOI with Northern Lights Distribution (“NLD”) and Alpha Private Equity & Capital to form joint venture Magnolia Extracts LLC, with plans to debut delivery, distribution and manufacturing at its cannabis products location in Lynwood, California (http://nnw.fm/bz1HB). Notably, NLD is a subsidiary of Natural Plant Extract of California (“NPE”), of which MCOA became a 20 percent equity interest owner last April (http://nnw.fm/Ax4d2).
NLD has entered into the partnership and will pay up to $1.5 million to build out a new production facility and use…
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://nnw.fm/MCOA
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