The premium cannabis delivery service expands operations inside California, the world’s biggest legal cannabis industry
ESCONDIDO, Calif., Sept. 04, 2019 (GLOBE NEWSWIRE) — by means of NetworkWire -– MARIJUANA Corporation OF AMERICA INC. (“MCOA” or the “Company”) (OTCQB: MCOA) (OTCQB: MCOAD), an revolutionary hemp and cannabis corporation, announced the official launch of its premium cannabis delivery service, VivaBuds, in the San Fernando Valley, California.
In April, the Corporation announced it had acquired a 20% ownership interest in Organic Plant Extract of California (“NPE”) to establish a joint venture to generate VivaBuds, a California marijuana delivery enterprise that provides consumers a dynamic chance to obtain low-expense premium cannabis solutions straight from farmers making use of a “Tell a Friend” method. For additional data, please go to the VivaBuds web site at www.VivaBuds.com. The VivaBuds mobile application is at the moment reside on Google Play and accessible for download on all Android devices.
“We are exceptionally pleased to have officially launched our delivery service all through the San Fernando Valley, exactly where demand for cannabis continues to raise unabatedly,” mentioned CEO of MCOA Mr. Donald Steinberg. “We think that by delivering delivery and our higher-excellent premium solutions to our shoppers, we will raise revenues, expand margins, and boost our all round brand recognition. I am confident that this new endeavor dovetails completely with our commitment to develop into a international leader in the legal production, processing, and distribution of cannabis solutions. Going forward, management will continue to leverage strategic operations and choices that boost worth for all our shareholders.”
According to an August 15, 2019 Los Angeles Instances short article, California is on pace to safe $three.1 billion in licensed cannabis sales in 2019, representing the biggest legal marijuana industry in the globe. Legal sales have elevated from roughly $two.five billion in 2018, the initially year of licensed cannabis sales in California, according to the evaluation by sales-tracking firms Arcview Market place Study and BDS Analytics.
About Marijuana Corporation of America, Inc.
MCOA is a corporation that participates in: (1) item study and improvement of legal hemp-primarily based customer solutions below the brand name “hempSMART” that targets common overall health and nicely-getting (two) an affiliate marketing and advertising plan to market and sell its legal hemp-primarily based customer solutions containing CBD (three) leasing of true house to separate enterprise entities engaged in the development and sale of cannabis in these states and jurisdictions exactly where cannabis has been legalized and effectively regulated for medicinal and recreational use and, (four) the expansion of its enterprise into ancillary places of the legalized cannabis and hemp sector, as the legalized markets and opportunities in this segment mature and create.
Legal Status of Cannabis
Whilst legalized in California for recreational and medicinal use, cannabis remains a Schedule 1 drug below the Controlled Substances Act (21 U.S.C. § 811) and illegal below the federal law.
Forward Searching Statements
This news release includes “forward-searching statements” which are not purely historical and might consist of any statements relating to beliefs, plans, expectations or intentions relating to the future. Such forward-searching statements consist of, amongst other points, the improvement, charges and final results of new enterprise possibilities and words such as “anticipate”, “seek”, “intend”, “think”, “estimate”, “anticipate”, “project”, “strategy”, or equivalent phrases might be deemed “forward-searching statements” inside the which means of the Private Securities Litigation Reform Act of 1995. Actual final results could differ from these projected in any forward-searching statements due to quite a few aspects. Such aspects consist of, amongst other individuals, the inherent uncertainties connected with new projects, the future U.S. and international economies, the influence of competitors, and the Corporation’s reliance on current regulations relating to the use and improvement of cannabis-primarily based solutions. These forward-searching statements are created as of the date of this news release, and we assume no obligation to update the forward-searching statements, or to update the factors why actual final results could differ from these projected in the forward-searching statements. While we think that any beliefs, plans, expectations and intentions contained in this press release are affordable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be precise. Investors need to seek the advice of all of the data set forth herein and need to also refer to the danger aspects disclosure outlined in our annual report on Kind 10-K, our quarterly reports on Kind 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For additional data, please visit www.sec.gov.
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