Marijuana Company of America and Global Hemp Group Provide Update on New Brunswick Hemp Project
Escondido, California--(Newsfile Corp. - May 22, 2018) - MARIJUANA COMPANY OF AMERICA INC. (OTC Pink: MCOA) ("MCOA" or the "Company"), an innovative hemp and cannabis corporation, is pleased to provide an update on its New Brunswick Hemp Project with joint venture partner, Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) (the "Partners").
The Partners have hired Joan Parker-Duivenvoorden as fulltime project agrologist and field manager for the project. Ms. Parker-Duivenvoorden graduated from Guelph University in 1981 with a BSc (Agr) majoring in plant protection. She has over 15 years-experience with the Nova Scotia Dept of Agriculture and with the New Brunswick Soil and Crop Improvement Association ("NBSCIA"). While working at the NBSCA, she has developed strong ties in the farming community that will prove to be advantageous as the project expands from the initial group of four farmers to more than fifty farmers as envisioned in coming years. In addition to being responsible for the project locally, she will provide advisory services to participating farmers, will conduct on-farm research projects to properly monitor the behaviour of various hemp varieties in different environments of the region. She will also develop training materials to assist farmers who will join the project in subsequent years. One of the long-term research projects headed by Ms. Parker-Duivenvoorden will be to develop a profitable crop rotation for organic hemp, opening the way for organic CBD.
Contracts have now been signed with the initial group of four farmers, who began seeding this season's 125-acre industrial hemp crop last week. The farmers participating in the project in 2018 are located throughout the northeastern region of New Brunswick, Canada, making for a good cross section of results for research conducted on the behavior of the crop across that region. The distribution of farms will maximize the demonstration effect and will facilitate the recruitment of additional farmers in the following years. This carefully selected group of farmers will actively participate in addressing the introduction of this new crop across different regions.
A 4,000 sq. ft. facility has now been secured in Bathurst, New Brunswick for the project. The building will be used for biomass storage and to install drying equipment that will be used to process the fresh material. Dried material will be stored at the facility while awaiting further processing by third party processors. Once proper licenses have been acquired for importing and manufacturing finished CBD products, the site may also serve as a distribution center for the hempSMARTTM and Benihemp line of products.
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 recreations 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.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG), is headquartered in Vancouver, British Columbia, Canada, with base operations in Montreal and Los Angeles. The Company is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company's Hemp Agro-Industrial Zone (HAIZ) strategy.
Forward Looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-12G, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
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