Marijuana Company Of America Announces CBD Beverage Supply Pact With MCTC Holdings
ESCONDIDO, Calif., Oct. 28, 2019 /PRNewswire/ -- MARIJUANA COMPANY OF AMERICA INC. ("MCOA" or the "Company") (OTCQB: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that the Company's wholly owned subsidiary, hempSMART™, Inc., has entered into a CBD beverage product supply agreement with MCTC Holdings, Inc. (OTC: MCTCD) (OTC: MCTC).
hempSMART™ will market MCTC's powdered drink mixes and other CBD edibles online and via hempSMART's network marketing partners. The products, which are branded under the trademarks: Hemp You Can Feel™, will be based on the MCTC's patent pending cannabinoid infusion technologies that offer high bioavailability of cannabinoids.
Mr. Trevor Muehlfelder, COO of hempSMART™ commented, "Over the past few quarters we have gained traction with our products here in the U.S. and in our new European markets. These new products, which are based on unique and highly bioactive infusion technologies, fit well within our product line. We are looking forward to rolling out these products across our marketing channels."
"There are now hundreds of CBD brands in the marketplace, so differentiation is critical," commented MCTC CEO, Arman Tabatabaei. "Our differentiation is strong by way of our unique super bioavailability infusion of broad spectrum hemp extracts and cannabinoids. We are very excited to be working with Marijuana Company of America and hempSMART™ as our first customers for our unique hemp extract powdered beverage and edibles products."
Under the terms of the agreement between the companies, MCTC will private label its products for hempSMART™, which will be responsible for marketing the products via direct online channels and through the hundreds of hempSMART™ network marketing partners. Products will include four varieties of powdered drink mixes under the MCTC's Hemp You Can Feel™ trademark.
MCTC filed three patents on a cannabinoid delivery system, and has collaborated with Cannabis Nanosciences, Inc. on technologies for the Company's first patent filing for an edible dissolvable film for the delivery of cannabinoids and on a second patent filing for cannabinoid nanoparticles combining TPGS, a water soluble form of vitamin E.
The polymer based nanoparticles being developed by MCTC should not be confused with the simple oil-in-water nanoemulsions being marketed as interim solutions to the food and beverage industry, as these two technologies are significantly different. The polymer-based particles the Company is developing will allow for significant loading of active ingredients and unparalleled flexibility in creating custom cannabinoid combinations with unique performance characteristics. MCTC believes polymeric nanotechnology particles will be an important technology area for the cannabinoid formulation marketplace.
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 containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Our hempSMART Products Containing CBD
The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA's jurisdiction.
Forward Looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-12G, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
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SOURCE Marijuana Company of America, Inc.
Released October 28, 2019