MCOA Distributor Signs Master Agreement with Mitra-9 Suite of Alcohol Alternative Beverages Derived from the Natural Herbs Kava and Kratom
LOS ANGELES, CA / ACCESSWIRE / September 13, 2022 / Marijuana Company of America, Inc. (OTC PINK:MCOA) ("the Company"), which operates, invests, and acquires companies in the cannabis sector; today announced that the Company's subsidiary, cDistro distribution has signed a Master Distribution Agreement with Mitra-9 Brands LLC Suite of alcohol alternative beverages derived from the natural herbs Kava and Kratom.
cDistro distributes THC - free cannabis brands and smoke and vape shop-related products to wholesalers, c-stores, specialty retailers, and consumers in North America.
The Master Distribution Agreement is for cDistro to distribute Mitra-9, which has developed a suite of alcohol alternative beverages derived from natural herbs called kava and kratom which are made from plants found in Southeast Asia. Depending on how the herbs are dried and fermented, they can produce different therapeutic effects ranging from increased optimism, motivation, focus, or relaxation. With 50% of adults making deliberate efforts to reduce their alcohol consumption, Mitra-9 is building a CPG brand of kava and kratom beverages, an export business to manage the flow of Kratom into the US, breweries to produce their products, a distribution network to market and sell their own beverages, and opening up owned and operated retail locations nationally to the alcohol alternative market which has grown by $7bn since 2018.
Jesus Quintero, MCOA CEO, said, "We are thrilled to begin offering these amazing Mitra9 products through our cDistro distribution channels. Mitra-9 is poised to become the dominant player in this emerging industry. The product already has early consumer brand loyalty and being in the cannabis beverage industry, offers many exciting distribution opportunities for MCOA and cDistro. MCOA's cDistro continues to offer distribution and marketing for innovative products with a strategy to build long-term value proving an excellent fit for our services."
Mitra-9 brews and manufactures Kava and Kratom canned beverages and mixers that offer great taste. Capturing the momentum of the alcoholic seltzers, Mitra-9's top-selling products are canned, fizzy drinks that come in a variety of flavors. Since launching only one year ago Mitra-9 has quickly scaled its production capacity and is producing to 150,000+ cans per month.
Dallas Vasquez, CEO of Mitra-9 Brands LLC said, "We are excited to work with the entire CDistro team! The cDistro and Mitra-9 team have a lot of synergies. They think very big picture and know how to execute. The CDistro team is excited and off to an amazing start with our product portfolio. We are expecting brand exposure to thousands of potential customers and placement in thousands of new retail locations within our first year of working together."
The company currently has been selling sits products via B2C online channels and B2B retail channels. 80% of the sales are currently through B2B, with 1000+doors as of August 2022. Their B2C channel has a 60% reorder rate, indicating early consumer brand loyalty. With plans to own the supply chain, Mitra9 is positioning itself to be a beverage industry juggernaut. Since launching one year ago, Mitra9's B2B and B2C sales have grown at 64% month-over-month rate.
For more details about Mitra-9 beverages, please visit: www.Mitra-9.com.
About Marijuana Company of America, Inc.
MCOA is a vertically integrated cannabis company whose core mission is to expand and innovate in the cannabis sector by developing its portfolio of cannabis assets through acquisitions of distressed cannabis companies strategically aligned with our blueprint for business development. This strategy drives innovation, pace, cooperative management, and capital efficiency to optimize growth opportunities and long-term investments.
This news release contains "forward-looking statements," which are not purely historical and may include 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.
SOURCE: Marijuana Company of America Inc.
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Released September 13, 2022