Marijuana Company of America, Inc. Announces Name Change From Converge Global, Inc.
BONSALL, CA -- (Marketwired) -- 12/01/15 -- MARIJUANA COMPANY OF AMERICA ("MCOA" or the "Company") (OTC PINK: MCOA) is pleased to announce that FINRA has approved its name and symbol change. The Company will begin trading under its new name, Marijuana Company of America Inc., and new trading symbol, MCOA, effective December 1st, 2015.
Completion of the change of business and resultant name change was subject to a number of conditions, including but not limited to FINRA approval. Majority consent was received from shareholders and approved by the Board of Directors on September 9, 2015.
Marijuana Company of America Inc. is an innovative marijuana marketing and distribution company that intends to distribute a wide range of marijuana, CBD and related products nationally and internationally, via a marketing and distribution strategy that is unique to the marijuana industry.
The newly appointed Chairman and CEO, Donald Steinberg, is assembling a top-notch team to execute the MCOA business plan. As the Company embarks on its first year under new management and a new direction, the Company is enlisting partners, establishing joint ventures, negotiating contracts and building a powerful consortium of industry experts and companies that share the MCOA vision.
Mr. Steinberg's experience in launching successful marketing and sales organizations on a global basis will benefit the Company and shareholders greatly. He has been out front of many new and developing industries and products, and will contribute significantly to what could potentially become the biggest new industry boom since the dot-com era.
The MCOA business model will set the Company apart. Management is developing a proprietary, high quality product line that will be exclusively available through MCOA. The specifics of how these products will be marketed and distributed will be disclosed just prior to launch.
The marijuana industry is still in its infancy and it is currently one of the fastest growing industries in the global economy. According to the Marijuana Business Daily's (MBD) Funding & Financing Handbook, marijuana product sales in the United States for 2015 are projected to be in the range of $2.7 to 3.1 billion, and that is only reported sales within the U.S. Worldwide sales are potentially equal to or greater than U.S. sales. Projections by MBD target a $6.8 to $8 billion U.S. market by 2019.
Never before in economic history has a commodity or product been prohibited by governments worldwide for nearly 80 years, whilst society has considered it to be generally acceptable and safe. Legalization continues to build momentum worldwide, and there is an economic tipping point on the immediate horizon, which could potentially be the largest in history. The number of jobs that will be created, and the taxes that will be generated by the marijuana industry will be significant. The marijuana industry will also stimulate growth in many other ancillary industries as expansion continues.
Donald Steinberg, MCOA's President, said, "It is an exciting time to launch a new company in this rapidly emerging industry. As the global marijuana revolution continues to expand and evolve, MCOA will contribute to its evolution with a brand new approach to the product development, marketing and distribution of medical and adult use marijuana products."
On behalf of the Board of Directors,
President & CEO
About Marijuana Company of America Inc.
Marijuana Company of America ("MCOA") is a publicly traded company headquartered in Bonsall, California. MCOA will distribute marijuana and products related to marijuana as well as CBD and hemp, using a variety of marketing approaches to distribute on a global basis.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Marijuana Company of America, Inc. to be materially different from the statements made herein.
Marijuana Company of America Inc. will provide management services that enable legal businesses to cultivate, sell, and distribute hemp and marijuana based products within the legal guidelines of individual states and international markets.
For more information, please visit the company's website at:
Source: Marijuana Company of America, Inc.
Released December 1, 2015