MCOA Subsidiary cDistro Signs Distribution Agreement with Silo Wellness and Marley One Functional Mushrooms
LOS ANGELES, June 29, 2021 (GLOBE NEWSWIRE) -- Marijuana Company of America, Inc. (OTC: MCOA) ("the Company"), a diversified holding company with operations and investments throughout the cannabis industry, today announced that its new wholly owned subsidiary cDistro, has reached an agreement with Silo Wellness, Inc. (CSE: SILO) (OTC: SILFF) (FRA: 3K70) to distribute Marley One, the first global functional mushroom brand, in collaboration with the Bob Marley Family.
Silo Wellness, a leading global psychedelics company, chose cDistro as one of its first distributors to launch Marley One, the first global functional and psychedelic mushroom consumer brand.
The initial product offering will include a range of functional mushroom tinctures, including species such as cordyceps, lion's mane, chaga, reishi and turkey tail that offer a range of unique health and wellness benefits, from immunity and gut health to cognitive function and sleep enhancement. Silo has also announced that it intends to launch a psychedelic mushroom product line under the Marley name later this year, to be followed by additional functional mushroom products including gummies, capsules and cosmetics.
“We believe it is important to be a leader in providing access to newer product categories, and we are honored to distribute and provide access to Marley One, the first global functional mushroom brand, in collaboration with the Bob Marley Family," said Ron Russo, cDistro’s President. “The Marley family name is an iconic part of our history and we’re thrilled to bring these exciting new products into our fast growing distribution portfolio. We have already commenced our marketing efforts to introduce and distribute Marley One, in collaboration with Silo Wellness and the Bob Marley Family. This distribution agreement and other new initiatives, epitomizes our growth and plans for continued growth and expansion.” “This represents a new beginning for Marijuana Company of America as it begins its quest to diversify its product base and begin significant strides to become a proactive leader in the Cannabis industry,” said Jesus Quintero, CEO of Marijuana Company of America, Inc.
Silo’s CEO, Douglass Gordon, stated, “We are pleased to have chosen cDistro as one of our initial distributors and we expect that as our global functional mushroom brands continues to develop that we will become the world’s first global functional and psychedelic mushroom brand, guided by a vision to help people achieve healthier lifestyle.”
About Marijuana Company of America, Inc. (OTC: MCOA)
Marijuana Company of America is a diversified holding company with operations and investments throughout the cannabis industry. MCOA focuses on acquisitions, as well as sales and marketing efforts of its wholly owned subsidiaries cDistro and hempsmart™ premium brand of hemp-based CBD (legal cannabidiol) products.
cDistro (Retail Service / Wholesale Prices) distributes CBD brands, along with smoke and vape shop related products to wholesalers, c-stores, specialty retailers, and consumers in North America.
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-K, our quarterly reports on Form 10-Q, and other periodic reports filed from time to time with the Securities and Exchange Commission.
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Released June 29, 2021