Marijuana Company of America Inc. Signs $10 Million Equity Line with White Lion Capital, LLC
LOS ANGELES, CA / ACCESSWIRE / September 28, 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 the signing of a definitive equity line of credit agreement with White Lion Capital, LLC for $10 million, which will be used to drive growth.
White Lion Capital, LLC invests in high growth early-stage public companies that seek to become industry leaders in trending sectors and become long-term financial partners.
MCOA believes that the new Equity Credit Line will facilitate MCOA's Strategic Plan to expand its business by organic growth and acquisitions of synergistic and often undercapitalized assets. This credit line is expected to afford MCOA to offer a compelling structure that will enable one or more target acquisition companies to go public, thereby accessing capital for both entities.
"This financing relationship with White Lion not only provides a valuable partner for our business strategy, but also provides us with strong capital backing to continue to execute on our growth of operations and seize the numerous acquisition opportunities existing today in the Cannabis industry," said Jesus Quintero, CEO of Marijuana Company of America, Inc. "Having reliable capital backing in this environment through White Lion Capital, LLC builds on our growth momentum that is starting to occur at MCOA."
About Marijuana Company of America, Inc.
Marijuana Company of America is a diversified holding company with a focus on acquisitions, operations, and investments throughout the cannabis industry. The Company's current operations include cDistro Distributor and hempSMART™ premium brand of hemp-based CBD (legal cannabidiol) products.
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.
SOURCE: Marijuana Company of America, Inc.
View source version on accesswire.com:
Released September 28, 2021