- Company’s joint venture (JV) with Global Hemp Group, Inc. covers a 109-acre farm in Scio, Oregon, to support over 20,000 high-yielding CBD hemp clones being purchased to meet the early June targeted planting schedule
- Company’s hempSMART™ subsidiary focuses on consumer access to the highest quality hemp-derived CBD products
- Politicians are increasingly getting behind the hemp industry
Marijuana Company of America, Inc. (OTC: MCOA) offers investors the opportunity to be at the forefront of innovation in the legal cannabis and industrial hemp industries. The company’s goal is to create an umbrella under which it will place an array of portfolio companies within the industry.
The company’s wholly owned subsidiary, hempSMART™, is focused on offering consumer access to the highest quality hemp-derived product formulations and is committed to the development of cannabidiol (CBD)-based botanical supplements. Moreover, the company offers the opportunity to distribute its products as part of its affiliate network-marketing model.
Recently, Marijuana Company of America entered into a joint venture (JV) with Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) of Vancouver, British Columbia. Global Hemp Group concentrates on acquiring and/or joint venturing with companies across all sectors of the industrial hemp industry. It does so to build a “soil-to-shelf” portfolio of complementary companies and JV partners. Marijuana Company of America signed the JV Agreement with Global Hemp Group to cultivate legal high-yielding CBD from industrial hemp at its newly acquired 109-acre farm in Scio, Oregon. The initial nursery and propagation rooms have been expanded to an additional attached greenhouse to produce clones for planting in the current season. The farm property is located in the fruitful Willamette Valley, located about 70 miles south of Portland, Oregon.
For the Scio, Oregon, farm, an additional 20,000 high-yielding CBD hemp clones are being purchased to meet the early June targeted planting schedule. The JV has bought five more greenhouses to increase greenhouse space by 12,096 sq. ft. Moreover, Marijuana Company of America and Global Hemp Group are looking into a field analytics software application to optimize farming operations via data collection and analysis.
In a news release, Donald Steinberg, Marijuana Company of America’s CEO, said, “Our evolving project in Scio, Oregon highlights the quality of the team in place as they continue to lean on their many years of experience cultivating hemp. Activities such as these will help to secure the raw oil that we will need for our hempSMART brand of CBD infused products.”
Politicians are increasingly getting behind the revival of the hemp industry in the United States. For example, Republican Senator Mitch McConnell recently introduced a bill to legalize the cultivation of hemp for farmers throughout the country (http://ibn.fm/Gw57B). In addition, this bill has the support of Sens. Rand Paul (R-KY), Jeff Merkley (D-OR) and Ron Wyden (D-OR). An additional companion bill has also been introduced in the House.
Forbes noted that “Hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group” (http://ibn.fm/gVmuN).
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
