ESCONDIDO, Calif., Jan. 17, 2020 /PRNewswire/ -- Marijuana Company of America Inc. ("MCOA" or the "Company") (OTCQB: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that the Company's wholly owned subsidiary, hempSMART Inc., has signed a definitive sales agreement to purchase ultra-clean label CBD beverage products from MCTC Holdings Inc. (OTC: MCTC), a science and technology innovation company focused on developing patented hemp extract infusion technologies and the sustained release of cannabinoids in the human body.
These new hempSMART™ branded products will be unique to the marketplace. During the initial stage, MCOA will offer a line of powdered drink mixes containing broad-spectrum hemp extracts with over 35 milligrams of CBD derived from all-natural extraction processes. Future offerings will include other powdered and pre-mixed beverages. The entire drink line will be based on some of the finest ingredients available to the marketplace, with a heavy emphasis on organic components where available.
Mr. Jesus Quintero, Chief Executive Officer of MCOA, stated, "At MCOA and hempSMART, it is all about the label and offering the highest quality products to our customers. With this line of drinks, we will be offering our customers a clean and healthy label that is currently absent in the marketplace. There are no chemicals, surfactants, or preservatives in this product line, and while we are not able to obtain full organic certification due to federal restrictions, we are at 95% organic for the entire line. It's a product line we feel great about offering to our customers."
Trevor Muehlfelder, Chief Operating Officer of hempSMART, said, "We are quite excited to unveil our new, ultra-clean label product line of CBD-infused powdered drink mix. The products are based on a unique dual-hemp extract infusion process that's unlike most products and have no artificial ingredients or chemicals. Our new product line is based on organic ingredients, including organic inulin from vegetables and trace amounts of organic coconut and sunflower oils, combined with a touch of CBD-infused honey produced at organic farms. This will truly be a unique, clean label product offering. We believe our new powdered drink line will revolutionize the beverage marketplace in the new 20's the same way Coca Cola did in the 1920's."
Mr. Arman Tabatabaei, Chief Executive Officer of MCTC Holdings Inc., commented, "We have developed a truly unique hemp extract drink product that will be offered to consumers through the new hempSMART wholesale distribution channels. We are elated to partner with MCOA and present Hemp You Can Feel™ beverage products to consumers."
Please visit www.hempsmart.com for more details about the new marketing initiatives and positive changes 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.
Forward-Looking Statements 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.
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