Business
Marijuana Company of America’s hempSMART Subsidiary Plans Separate Listing on the Vienna Exchange
Marijuana Company of America’s hempSMART Subsidiary Plans Separate Listing on the Vienna Exchange.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\nESCONDIDO, Calif., May 08, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTCQB: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that its wholly owned subsidiary, hempSMART, Ltd., is taking steps to list on the Vienna Stock Exchange (H Smart SARL), with the intention of raising sufficient capital to expedite the rollout of its hempSMART™ product line in Europe.\n Marijuana Company of America plans to sell a minority interest of hempSMART, Ltd., currently engaged in developing and marketing the hempSMART brand in Europe, for up to $10 million. The Company expects that all of the necessary steps to trade on the Vienna exchange will be completed by the beginning of the third quarter of 2019. Once listed, hempSMART, Ltd. will be one of the first U.S.-based hemp-derived cannabidiol (CBD) companies to do an initial listing on a European exchange, as most cannabis and hemp public companies opt to list in Europe as a secondary listing. This is a result of the Company’s commitment to prioritizing its marketing efforts in the burgeoning European cannabis, hemp and CBD markets, with future plans to expand further. “We are very excited to do an IPO of hempSMART, Ltd. on such a reputable European exchange,” said Don Steinberg, CEO of Marijuana Company of America. “This is a huge leap forward to obtain the necessary capital to bolster our European launch and become a top hemp brand in Europe. Europe’s cannabis and hemp markets are undergoing a critical phase in their growth and this is the optimum time to establish our brand as a leader. To date, we have exceeded expectations at our London event in March. In order to capitalize on this positive market momentum, we have planned two additional events in England, with two more following in Liverpool and Birmingham.” hempSMART, Ltd. is expected to enter Portugal later this month, with future plans to extend further in France, Germany and Austria. hempSMART, Ltd. markets and sells the Company’s hemp and hemp-based personal wellness products, including the U.S.-patented hempSMART Brain™, an effective wellness product formulated with proprietary composition of natural ingredients and CBD to enhance brain function. Jesus Quintero, CF...