Business
Marijuana Company of America Announces Joint Venture in Canada with Global Hemp Group
Marijuana Company of America Announces Joint Venture in Canada with Global Hemp Group.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\n \n \n Marijuana Company of America Announces Joint Venture in Canada with Global Hemp Group\n \n \nMarijuana Company of America Announces Joint Venture in Canada with Global Hemp Group\n \n ESCONDIDO, CA--(Marketwired - Sep 5, 2017) - MARIJUANA COMPANY OF AMERICA INC. (\"MCOA\" or the \"Company\") (OTC: MCOA), an innovative cannabis and hemp corporation, is pleased to announce a Joint Venture (\"JV\") with Global Hemp Group Inc. (\"GHG\") (CSE: GHG) (OTC: GBHPF) on its industrial hemp project on the Acadian peninsula of New Brunswick, Canada.\n MCOA has partnered with GHG to assist in developing commercial hemp production in the region. Currently GHG is conducting its first phase hemp cultivation trials on the peninsula (Please visit the following link for updates -- http://globalhempgroup.com/trialupdates). The results of these trials will be used to establish commercial cultivation in 2018. In this first year of the JV, MCOA will share the costs of the ongoing hemp trial; provide its expertise in developing hemp cultivation; and, be granted a Right of First Refusal as GHG's primary off-taker of any raw materials produced from this project. The project is also receiving research support from Collège Communautaire du Nouveau Brunswick (CCNB) located in Bathurst, New Brunswick.\n GHG's Hemp Argo-Industrial Zones, or HAIZ, concept will help create the infrastructure capable of processing all of the industrial hemp plant into a number of different wholesale products. This concept being developed by GHG, will help create jobs for farmers and provide superior sustainable products to the global market. MCOA and GHG also intend to extract cannabinoids like CBD, CBG, and CBN for the development of MCOA's proprietary line of hempSMART™ cannabinoid based products.\n \"Global Hemp Group is providing MCOA an opportunity to expand into the hemp market in Canada. We intend to build upon this relationship between our companies and are excited to take part in this project in New Brunswick,\" said MCOA's CEO Donald Steinberg.\n About Global Hemp Group Inc.\n Global Hemp Group (\"GHG\") is a publicly traded company founded in 2012, headquartered in British Columbia, Canada with base operations in Montreal and Southern California. The Company is focused on the production and processing of hemp and cannabis, and collaboration with com...