Marijuana Company of America Inc. (OTC: MCOA) and joint venture partner Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) this morning posted an update on their hemp project in northeast New Brunswick. Per the update, the companies recently completed the planting of 125 acres of industrial hemp at the project location and were awarded a grant of $10,750 from the New Brunswick Department of Aquaculture, Agriculture and Fisheries (“DAAF”) to support demonstration projects it will undertake during the current cropping season. The grant will be used to study the impact of the European Corn Borer (“ECB”) on the hemp plant; to explore correcting soil acidity utilizing slag lime, an abundant resource in the region, and toward the use of modern drone technology to monitor field conditions at the farm; and to finance a DAAF Nitrogen Fertility Project on a section of one of the farms. In addition, the partners reported that they have purchased a high capacity hemp dryer for the project, which is anticipated to be delivered to the facility in early August.
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About Global Hemp Group Inc.
Global Hemp Group Inc. is headquartered in Vancouver, British Columbia, Canada, with base operations in Montreal and Los Angeles. The company is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the company’s Hemp Agro-Industrial Zone (HAIZ) strategy. For more information, visit the company’s website at www.GlobalHempGroup.com.
About Marijuana Company of America, Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that 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 recreations 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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