ESCONDIDO, Calif., Jan. 9, 2020 /PRNewswire/ -- Marijuana Company of America, Inc. ("MCOA" or the "Company") (OTCQB: MCOA), a diversified hemp and cannabis company, is excited to announce that its wholly-owned subsidiary hempSMART will be aggressively marketing its hempSMART™ CBD products through numerous distribution and retail channels globally under the leadership of a new Global Marketing and Sales Manager. This new strategy will supplement the current affiliate-marketing model that hempSMART has used as its primary marketing method for its hempSMART™ products in the past and will be focused on the wellness and beauty segments – two valuable pieces of a CBD market that is forecasted to be worth $22 billion by 2022.
Ms. Gloria Albarran Lynch will be leading the hempSMART marketing team as its new Global Marketing and Sales Manager. She brings over 25 years of deep experience in business development, sales and marketing in previous roles at both private and public companies. Ms. Lynch was formerly the Managing Director and Chief Executive Officer at Fuse Digital Group, a private digital media company. She is originally from Mexico City, Mexico, is bilingual and bicultural, and holds a BA in industrial design and an MBA from Harvard Business School.
Since January 2013, Ms. Lynch has served as a business development and business growth consultant for numerous ventures in South Florida. She has extensive expertise in opening new markets and launching new products in Latin America and in the Hispanic market in the U.S. She also has wide-ranging knowledge of marketing and sales strategies for many different markets, both B2B and consumer, and has held senior management positions with several corporations in Mexico, including First Data Corporation – Latin America, Banco Azteca, S.A. de C.V., and GasoPLUS, S.A. de C.V., as well as with businesses in the U.S., including GlobeTel Communications Corp., Trimax Wireless Inc., SafetyPay Inc., and International Hotel & Travel Systems Inc.
Jesus Quintero, Chief Executive Officer of the Company, stated, "Through Ms. Lynch's leadership and implementation of this robust new marketing strategy, our premium-quality hempSMART™ products will be positioned in front of a larger audience of potential customers. With the strength of the CBD wellness and beauty markets that are expected to be worth as much as $25 billion globally in the next decade, we intend to take advantage of this tremendous market opportunity."
Mr. Quintero continued, "As the new CEO of MCOA, I am making the necessary strategic changes to ensure we achieve our projected sales goal for 2020 of $2M in gross revenue in our hempSMART™ product line by introducing a more traditional and aggressive sales approach. We are confident that our quality CBD products will sell themselves as people see the brand, try the products, and become loyal to the brand. Our hempSMART™ products deliver premium-quality, lab-tested, and verified CBD to consumers and help promote personal health and wellness. We are elated to have hired a successful sales veteran such as Ms. Lynch to help us spearhead this strategy."
"We are happy that our new marketing approach is creative enough in our pricing and marketing structure to not alienate our existing and future affiliates that chose to promote hempSMART™ products through our legacy affiliate marketing model," commented Trevor Muehlfelder, Chief Operating Officer of hempSMART. "Our goal has always been to help our affiliates succeed by promoting the hempSMART™ brand. However, we needed to expand its marketing efforts to increase sales, and I believe we can achieve both objectives with our new strategic initiatives."
Please visit www.hempsmart.com for more details about the new marketing changes and positive adjustments made to the affiliate marketing program.
About Marijuana Company of America Inc.
MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART™, which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop.
Legal Status of Cannabis
While legalized in California for recreational and medicinal use, cannabis remains a Schedule 1 drug under the Controlled Substances Act (21 U.S.C. § 811) and illegal under the federal law.
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.sec.gov.
For more information, please visit the Company's websites at:
SOURCE Marijuana Company of America