Marijuana Company of America Announces Appointment of Marco Guerrero to Board of Directors
- Mr. Guerrero’s appointment enriches the Company’s current strategy to grow internationally, with his wealth of experience in the Brazilian and South American markets.
As a new board member, Mr. Guerrero will generate a broad range of opportunities in Brazil and other countries participating in Mercosur.
HempSmart intends to enter into and grow aggressively in these countries. The Company will begin production and open new distribution channels. Mr. Guerrero will be an essential asset in the development and implementation of these initiatives.
- Marco Guerrero has expertise in working with companies such as Chubb, QBE and Marsh & McLennan before becoming co-founder of Truster Brasil.
ESCONDIDO, Calif., June 17, 2020 (GLOBE NEWSWIRE) -- via NetworkWire -- Marijuana Company of America, Inc. (OTCQB: MCOA) ("MCOA" or the "Company"), an innovative hemp and cannabis corporation, today announces the appointment of Marco Guerrero as a new member of the Company’s board of directors.
Mr. Guerrero is a Brazilian national and currently resides in Sao Paulo, Brazil. He is proficient in English, fluent in Spanish and Portuguese, and will be the key executive in charge of opening new operations and distribution channels in Brazil for the HempSmart product line. Mr. Guerrero will be a strong contributor in the development and implementation of the new HempSmart international strategy, which includes the formation of a new local company, HempSmart Brazil, that will become the Company’s business center for Latin America. Entering this territory represents the first step toward the Company’s global expansion into new markets.
Mr. Guerrero will serve as board member and liaison for Brazil. He will join the Company’s CEO, Jesus Quintero, as well as the other board members, Themistocles (Tim) Psomiadis and Edward Manolos, in creating and implementing the vision and strategic plan for the Company.
"I am very excited to become part of the MCOA family and to be able to exchange knowledge with such qualified and competent colleagues,” Guerrero stated. “I am a true believer in the CBD industry, which sooner rather than later will be present in all four corners of the globe. I take this new chapter of my professional career with great honor and will do my best to contribute to the growth of the HempSmart business and to represent the Company's legitimate interests.”
Mr. Guerrero offers expansive knowledge and expertise, particularly in the Latin American markets.
Mr. Jesus Quintero, CEO of Marijuana Company of America, commented, “We are really excited about the addition of Marco to our board. He will be a substantial asset and gives our company a unique perspective in approaching the Latin American markets. He is not only very qualified but also strategically positioned to help us launch our presence in Brazil and implement our strategic plan successfully.”
Marco Guerrero holds a bachelor’s degree in business administration and a post-graduate degree in controllership from Instituto Presbiteriano Mackenzie in Brazil. He studied in the U.K. and worked for several years in the U.S. in partnership with reinsurance agents. He is a professional executive with more than 20 years of experience in insurance and reinsurance. He is the co-founder of Truster Brasil, a reputable reinsurance company specializing in Latin America and the Caribbean.
About Marijuana Company of America Inc.
MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART™, which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop.
Legal Status of Cannabis
While legalized in California for recreational and medicinal use, cannabis remains a Schedule 1 drug under the Controlled Substances Act (21 U.S.C. § 811) and illegal under federal law.
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.
For more information, please visit www.sec.gov.
For more information, please visit the Company's websites at:
SOURCE Marijuana Company of America
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71b95a80-0dff-4db5-9a4e-a2a49f982b57
Released June 17, 2020