ESCONDIDO, Calif., July 1, 2020 /PRNewswire/ -- Marijuana Company of America, Inc. ("MCOA" or the "Company") (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced the appointment of Themistocles (Tim) Psomiadis as Executive Vice President of Mergers and Acquisitions. He has been a member of the Board of Directors of the Company since February 28, 2020. Tim Psomiadis is a US citizen currently residing in South Charleston, SC. His appointment as EVP Mergers & Acquisitions comes to strengthen MCOA's expertise in corporate finance. He will be instrumental in the implementation of the Company's strategy of accelerating their growth through key acquisitions.
Mr. Psomiadis has considerable experience working both in the US and in Latin America. He is fluent in Portuguese, Spanish and Greek, and his expertise will be extremely valuable in advancing the Company's growth strategy through the acquisition of companies that can expand MCOA's presence in the Cannabis industry. He will be a strong contributor in helping the Company reach their goals. Tim Psomiadis will work closely with Marco Guerrero in establishing the Company's presence in the Brazilian market, and using it as a base to expand into other countries in Mercosur and the rest of Latin America. Mr. Jesus Quintero, CEO commented: "The addition of Tim to our group, as both member of the board and Executive Vice President of Mergers of Acquisitions is a true game changer for our Company. He brings a wealth of knowledge and expertise that is invaluable to MCOA. Tim is very well connected and respected in the industry and working together with Marco he will help us launch this endeavor." Mr. Psomiadis stated: "I am truly honored and excited to join MCOA as it ramps up its growth and expansion plans, especially our Latin American and European operations."
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, Inc.