ESCONDIDO, Calif., March 21, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that its wholly owned subsidiary, hempSMART, Ltd., a corporation organized in the United Kingdom, will officially launch the Company’s industrial hemp CBD formulated hempSMART™ products in the United Kingdom during the Company’s March 23, 2019, launch event in London.
The hempSMART™ launch event is sold out, with associates attending from the United Kingdom and elsewhere in Europe. The Company has implemented a lineup of fantastic speakers, with some joining from across the globe by video conference. The Company’s launch program will include an in-depth overview of the CBD industry, its hempSMART™ products, as well as marketing and compensation plans that will also feature information on how associates can start their own business in the CBD industry. The Company believes its hempSMART™ wellness products, which are formulated with industrial hemp-derived CBD, are well-suited and positioned for the UK and EU markets, as the Company’s CBD extraction processes have reduced the trace levels of THC in its hempSMART™ products to below 0.02% of dry weight, meeting the current accepted standards for CBD supplement products in the UK.
The hempSMART, Ltd. UK team has worked diligently over the last few months to ensure its associates get the very best customer support both during and after the launch. During the event, the Company will recognize associates who achieved outstanding pre-launch activity with an assortment of awards and prizes. In addition, the Company’s mobile storefront will be fully manned at the event, ensuring everyone can place orders and take them home the same day.
Ian Harvey, Global Sales Director of hempSMART, Ltd., commented: “I personally have never felt so much excitement surrounding a new product line being launched in the UK. hempSMART, Ltd. is poised to become one of the leaders in the CBD wellness industry in the UK and the EU, and I am delighted to be Global Sales Director, as we continue to be focused on other exciting developments moving forward.”
Donald Steinberg, CEO of the Company, commented “We are now ready to start on the global rollout of our hempSMART™ products. Our software is set to accommodate many countries, our product line has been well developed and we have leaders throughout the world ready to take up their roles as country directors. Launching in the UK is especially meaningful, as London was the launch pad for one of my prior projects, One World Communications, which expanded operations to 50 countries with well over 150,000 affiliates in nine months. As the founder of that company, I feel an even greater excitement with this rollout.”
Dianna Steinberg, head of hempSMART™ product development, stated, “After having received the groundbreaking patent for brain function and nootropics following the recent changes in regulations, our company is thrilled to be opening in the UK. We are especially looking forward to working with not only our health professionals but all of the thousands of people in our past organizations.”
About Marijuana Company of America, Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Our hempSMART™ Products Containing CBD
The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA’s jurisdiction. Further, the marketing and sale of our hempSMART™ products in the UK and EU, are not based upon claims that their use is a safe and effective treatment for any medical condition as drugs subject to the UK Medicines and Healthcare products Regulatory Agency (MHRA), or any similar EU regulatory agency.
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 10-12G, 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.