MCOA Announces Shift in Business Strategy As It Launches Into Legalized Cannabis THC Industry
LOS ANGELES, CA / ACCESSWIRE / August 12, 2021 / Marijuana Company of America, Inc. (OTC PINK:MCOA) ("the Company"), a diversified holding company with operations and investments throughout the cannabis industry, today announced a strategic shift in its business strategy as it enters into the Legalized Cannabis THC Industry. This move is reflected by potential acquisitions as well as recently acquired MCOA asset, cDistro, distributor of CBD brands, along with smoke and vape shop related products to wholesalers, c-stores, specialty retailers, and consumers in North America.
"Our entry back into the legalized cannabis THC industry is a historic day for our company," said Jesus Quintero, CEO of Marijuana Company of America, Inc. "Everyone in our organization has played a critical role in this journey to where we stand today, and it is only through the hard work and dedication of our employees as well as the support of our loyal shareholders, that we have been able to reach this inflection point. MCOA has already identified and anticipates closing on new potential revenue producing cannabis acquisitions that will allow us to rapidly capture a large and growing percentage of the market share due to two key competitive advantages, MCOA' s distribution coupled with the vast experience and knowledge of the Cannabis industry."
MCOA believes that the opportunity to expand its business will create a compelling structure that will enable one or more target companies to go public, thereby accessing significant capital for both organic growth and acquisitions of synergistic and often undercapitalized assets.
"This provides a unique opportunity to invest in capital constrained businesses in defensible positions. We are confident these initiatives will allow us to better serve our customers, accelerate the growth we have experienced in the recent past and position us to continue our organic growth. We look forward to serving more customers in the future, as well as to achieving profitable growth of the company," concluded Mr. Quintero.
About Marijuana Company of America, Inc.
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 Distributor and hempsmart™ premium brand of hemp-based CBD (legal cannabidiol) products.
hempSMART™ offers an extensive full line of premium CBD organic products that are scientifically driven and double lab tested to ensure purity and potency. The Company will direct the sale of its products to wholesalers, distributors, the medical community, online e-commerce consumer platforms, and a proven network affiliate marketing program. The Company has also launched international sales, production, and marketing expansion.
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.
For more information, please visit www.marijuanacompanyofamerica.com or visit www.sec.gov.
SOURCE: Marijuana Company of America, Inc.
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Released August 12, 2021