Innovative hemp and cannabis corporation Marijuana Company of America Inc. (OTC: MCOA), alongside joint venture partner Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF), this morning provided an update on the harvest at its high yielding CBD hemp project in Scio, Oregon. Per the update, 2018 growing efforts at the Scio property spanned 33 acres of high yielding CBD hemp grown in an orchard style cultivation. This year’s harvest included approximately 37,000 hemp plants that produced roughly 24 tons of biomass, despite a notably late start to the cultivation season. The drying process for this harvest has been completed, with the farm producing 48,000 pounds of dried biomass that is currently stockpiled in quarter ton super sacks utilizing a total of about 4,000 sq. ft. of storage space. For the 2019 harvest, the companies expect to begin planting on June 1, giving the hemp an additional 30-45 days of growing time, as compared to 2018. This additional time is expected to result in much larger plants and significantly larger quantities of biomass. The companies are likewise exploring a number of solutions that will automate both harvesting and planting efforts for next year’s crop, making them more efficient and less costly to complete.
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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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