Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) this morning announced its official acquisition of a 20 percent ownership interest in Natural Plant Extract of California (“NPE”). According to the update and under the agreement terms, MCOA has committed to contribute $2,000,000 in total cash to the project as well as $1,000,000 in its common shares in exchange for a 20 percent equity position in NPE. In addition, MCOA and NPE have officially entered a joint venture agreement to establish Viva Buds as a premier cannabis delivery company, from which both NPE and MCOA will share in 50/50 profits. “After a great deal of due diligence and strategic planning, we are happy to execute an agreement to purchase ownership in NPE,” MCOA CEO Don Steinberg said in the news release. “This is a major step in staying true to our name Marijuana Company of America and entering into the marijuana industry in California. We have aspirations of becoming a major distributor, delivery service and manufacture in California. NPE is ahead of most of the competition in the state in terms of permitting, build-out and licensing.”
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About Marijuana Company of America Inc.
MCOA 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.
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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