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Marijuana Company of America and Global Hemp Group to Form Joint Venture With Space Cowboys' Colorado Farm
Marijuana Company of America and Global Hemp Group to Form Joint Venture With Space Cowboys' Colorado Farm.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\n \n \n Marijuana Company of America and Global Hemp Group to Form Joint Venture With Space Cowboys' Colorado Farm\n \n \nMarijuana Company of America and Global Hemp Group to Form Joint Venture With Space Cowboys' Colorado Farm\n \n ESCONDIDO, CA--(Marketwired - Oct 10, 2017) -  MARIJUANA COMPANY OF AMERICA INC. (\"MCOA\" or the \"Company\") (OTC: MCOA), an innovative hemp and cannabis corporation, and Global Hemp Group (CSE: GHG) (FF: GHG) (OTC: GBHPF), (collectively the \"Companies\"), are pleased to announce that they have jointly entered into a letter of intent with Space Cowboys, Inc. (\"Space Cowboys\") for the purposes of forming a joint venture (the \"Joint Venture\"). Space Cowboys is an existing fully licensed and compliant hemp-derived cannabinoid producer in Colorado. \n Pursuant to the terms of the letter of intent and subject to the Companies obtaining sufficient financing, the Companies will invest US$2.5 Million in exchange for a 25% equity interest in Space Cowboys. The investment funds will be used to expand Space Cowboys' cultivation operation.\n Space Cowboys is in its fourth year of operation and is in full compliance with Colorado state law and the Colorado Department of Agriculture. The business consists of both indoor and outdoor cultivation of highly concentrated CBD hemp on properties located in Longmont and Loveland, Colorado. Space Cowboys' current hemp crops will be harvested in the latter part of October and prepared for extraction of the high-value cannabinoids. \n In addition to the potential revenue streams generated from Space Cowboys' ongoing high cannabinoid hemp production, this Joint Venture will provide the opportunity to be a part of a legal operation with the extensive knowledge and experience required to cultivate and process industrial hemp into raw cannabinoids. For MCOA, it will also provide a consistent cannabinoid supply from a known source and trusted partner for its hempSMART™ product line. This will also enable Global Hemp Group to develop its Hemp Agro-Industrial Zone concept. \n \"MCOA has always been interested in developing hemp farms and processing here in the United States. By initiating this Joint Venture, the Company will accomplish this objective along with securing its supply chain of raw cannabinoids. It is an important step in the continued...