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Marijuana Company of America and Joint Venture Partner Global Hemp Group Announce Start of Commercial Planting at Hemp Farm
Marijuana Company of America and Joint Venture Partner Global Hemp Group Announce Start of Commercial Planting at Hemp Farm.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\nESCONDIDO, Calif., June 18, 2019 (GLOBE NEWSWIRE) -- via NetworkWire - MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTCQB: MCOA), an innovative hemp and cannabis corporation, along with joint venture partner Global Hemp Group (CSE: GHG/ OTC: GBHPF/ FRA: GHG), are pleased to announce the start of its commercial planting at its hemp farm in Scio, Oregon.\n Marijuana Company of America previously announced its high-yielding cannabidiol (CBD) hemp farming project with joint venture partner Global Hemp Group in 2018. The Scio, Oregon, farm, operating under the name Covered Bridge Acres Ltd. (“CBA”), has finished preparing the 35-acre land for planting, which is now in the process of laying the last of the mulch and drip line. CBA is also in the process of obtaining organic certification. This season’s harvest was more environmentally friendly, with biodegradable plastic mulch brought in from Canada to eliminate the end-of-season environmental waste, thus reducing labor costs associated with its removal from the field. The hemp plants used for this year’s cultivation have been produced from either sprouted seed or through CBA’s cloning operation that is done onsite at the Company’s greenhouses fully controlled by the CBA team. Genetics being used this year are of higher quality and more stable than those planted last year. The team expects to plant 40,000 to 50,000 plantlets this year, with a CBD content ranging from 12 percent to 15 percent. Any excess clones not required for the field will be sold or used for expansion. This year’s cloning operation has eliminated the need to purchase clones from third parties, as was required last season. This will reduce operating expenses in the current year by approximately $200,000. The CBA team continues to prepare the greenhouses for constant harvest to produce high-quality, smokeable hemp flower. Trimmed, high-end flower, with less than 0.3 percent THC, currently wholesales for 10 times the price of CBD biomass that is going to extraction. About Global Hemp Group Inc.Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG) 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 Company is headquartered in Vancouver, Brit...