Marijuana Company of America Inc. (OTC: MCOA), along with joint venture partner Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF), this morning issued an update on its CBD hemp farming joint venture in New Brunswick, Canada. The goal of the hemp project is, in part, to produce hemp biomass that can be used for the extraction of cannabinoids. In anticipation of Canada’s implementation of the Cannabis Act on October 17, 2018, which will allow for the processing of the entire hemp plant, MCOA and Global Hemp Group have commenced preparation work at the 4,000 sq. ft. Bathurst facility to facilitate the installation of drying equipment capable of processing 125 acres of flowers and leaves from the 2018 cultivation. The biomass dryer is expected to be installed before the end of August, with dried flowers and leaves being stored until the mid-October regulatory changes take effect. Per the update, once proper licenses have been acquired for importing and manufacturing finished CBD products, the Bathurst facility may also be used as a distribution center for the company’s hempSMART™ products, which are currently manufactured and distributed in the U.S.
To view the full press release, visit http://nnw.fm/eP96w
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 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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