Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) together with joint venture partner Global Hemp Group Inc. (CSE: GHG) ( OTC: GBHPF) ( FRANKFURT: GHG) today announced that their joint venture subsidiary, Covered Bridge Acres Ltd. (“CBA”), has started generating revenue through operations at its hemp farm in Scio, Oregon. According to the update, CBA generated $525,500 in its first year of operation through a combination of the sales of raw biomass, plantlets, CBD crude oil and CBD distillate produced from various processing test runs, as well as other farm operations. In its most recent transaction, CBA sold 10,000 lbs of shucked biomass to an Oregon extraction facility for $400,000 and is working with this party, and a number of others, to complete purchase of the remaining inventory.
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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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