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Marijuana Company of America and Global Hemp Group Form Joint Venture to Cultivate High Yielding CBD Hemp in Scio, Oregon
Marijuana Company of America and Global Hemp Group Form Joint Venture to Cultivate High Yielding CBD Hemp in Scio, Oregon.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\nESCONDIDO, Calif., May 09, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – MARIJUANA COMPANY OF AMERICA, INC. (“MCOA” or the “Company”) (OTC:MCOA), an innovative hemp and cannabis corporation, is pleased to announce that it has signed a Joint Venture Agreement (the “Agreement”) with GLOBAL HEMP GROUP INC. (“GHG”) (CSE:GHG) (OTC:GBHPF) (FRANKFURT:GHG) to cultivate legal high yielding CBD from industrial hemp at its recently acquired 109 acre farm (see news release of May 1, 2018) in Scio, Oregon.\n Pursuant to the terms of the Agreement, MCOA and GHG (the “Partners”) will jointly invest a total of US$1.2 million in the development of the project in 2018. Funding for the project will be done on a 50/50 basis.   TTO Enterprises Inc. (“TTO”) will manage and be responsible for the entire Scio project, and will also provide consulting services to the Partners’ 125-acre joint venture hemp farm operations in New Brunswick, Canada. TTO’s expertise includes genetics development, selection and management, planting and harvest scheduling, clone management, field preparation, field set and field management strategies. MCOA and GHG will continue to develop a robust North American joint venture relationship focused on hemp. The Partners initially joint ventured on hemp trials in New Brunswick Canada during 2017, which has now expanded to 125 acres of commercial production for 2018. This partnership has now expanded into the United States with the addition of the Scio, Oregon project. The Companies will continue to seek additional hemp cannabinoid production opportunities across the United States and Canada. Don Steinberg, CEO, commented, \"We are really proud of the hard work our partners have put into this project, as we continue to execute this portion of our overall business plan.  Activities such as these clearly put MCOA as a top line producer in the legalized hemp and processing arena.\" 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 conta...