Marijuana Company of America, Inc. Announces LOI To Launch VapeTV U.S.
LOS ANGELES, CA / ACCESSWIRE / November 3, 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 non-binding letter of intent ("LOI") for the formation of a new in-store advertising business to be called VapeTV US, Inc.
MCOA's wholly owned distribution company, cDistro, Inc., will own 25% of the VapeTV US business, partnering with VapeTV Ltd. of the United Kingdom and Jasleen Enterprises LLC, the owner of Vapor Maven.
VapeTV UK is Europe's leading provider of in-house media for the vaping industry, providing in-store display systems for retail vape stores that run paid advertising content for consumer appreciation.
Vapor Maven is the country's fastest growing chain of retail vape shops with close to 200 locations, across six states, headquartered in Springdale, Arkansas.
Mike Shaw, the Founder of VapeTV UK, commented "We are excited to initiate the U.S. market version of the highly successful and lucrative VapeTV business. By launching with Vapor Maven's nearly 200 retail locations and by leveraging cDistro's active customer database of more than 65,000 retail vape stores in the U.S., we anticipate an accelerated delivery of VapeTV advertising content to U.S. consumers. We believe that the high level of competition among the thousands of individual smoke, vape and CBD brands vying to sell in the U.S. will result in a high demand for the in-store media advertising space and content VapeTV US plans to provide."
About Marijuana Company of America, Inc.
Marijuana Company of America operates and invests in the cannabis sector directly. The Company's operations include C-Distro, one of the THC, Hemp & CBD cannabis industries fastest growing distribution companies, hempsmart™, a Premium CBD company, and a cannabis nursery cultivation facility in Salinas, California that is a cultivator and distributor utilizing its own growing systems to produce desirable cannabis clones.
The company's core mission is to leverage its experience, and access to capital to identify and invest in acquisitions with unique growth potential.
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 November 3, 2021