Marijuana Company of America and Global Hemp Group Provide Update on New Brunswick Hemp Project
Escondido, California--(Newsfile Corp. - May 30, 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 125-acre industrial hemp project in northeast New Brunswick with joint venture partner Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG).
The planting of the seeds on the first 77 acres will be completed this week. The remaining 48 acres will be seeded over the next two weeks, once the farmers receive soil test results for this acreage and are able to determine fertilizer requirements for this year's cultivation.
The Department of Aquaculture Agriculture and Fisheries (DAAF) will also be conducting fertility trials on reserved plots at participating farms. DAAF will contribute the fertilizers to the project as part of these trials. The trials will be conducted at no cost to the project and are a clear indication of the collaborative relationship that has been established with DAAF.
In addition, there is an organic certification trial underway on an additional two-acre plot at the project. It will take three years to complete the organic certification process for this field. As part of the process, the plot will begin a three-year cultivation rotation of hemp, oats and a green manure crop to be defined at a later date. In three years this plot will produce certified organic CBD and organic oats, a crop with an excellent market.
Project managers are currently evaluating drying equipment that will be required to process the biomass after it is harvested. Drying will prepare the biomass for shipment to processors for extraction of the cannabinoids. Management is in discussions with a number of potential processing partners for this material. A final decision will be made in the coming weeks.
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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