Company began sign-ups for Viva Buds Inc., a cannabis delivery service developed with joint venture partner Natural Plant Extracts of California
ESCONDIDO, Calif., July 23, 2019 (GLOBE NEWSWIRE) -- via NetworkWire - MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (MCOA), an innovative hemp and cannabis corporation, is pleased to announce the prelaunch of cannabis delivery service Viva Buds Inc. in the San Fernando Valley in Los Angeles, California, with sign-ups now available on its website at https://vivabuds.com.
Viva Buds’ staff and marketing team have successfully initiated the prelaunch for prospective customers ahead of its official 2019 launch date. By signing up for free for the Viva Buds prelaunch, customers will have the opportunity to make referrals before the actual launch date. Viva Buds will offer customers a dynamic opportunity to purchase low-cost premium cannabis products and utilize the “call your friend” approach to build their own personal business. Viva Buds will have its own user-friendly app and will utilize its strategic partnership with MassRoots Inc. to reach out to thousands of its social media followers, beginning in the San Fernando Valley.
In March, Natural Plant Extracts of California (“NPE”) and MCOA announced they had established a joint venture to form Viva Buds, sharing the net profits on a 50-50 basis. NPE will manage all operations pertaining to distribution, manufacturing and delivery of cannabis products, and MCOA will provide capital, consulting and marketing services. Additionally, MCOA is the direct owner of 20% of NPE.
“Our management team is excited to provide this innovative opportunity to future customers of Viva Buds in one of the largest U.S. markets for recreational cannabis,” said Mr. Don Steinberg, CEO of Marijuana Company of America.
“We are excited to be a partner in what we believe will be a game changing and disruptive delivery model in the marketplace,” said Mr. Alan Tsai, CEO of Natural Plant Extracts of California. “We offer an incentivized program that is mutually beneficial for our customers as well as the company. We are confident this adds a lot of unique value and will position Viva Buds as a key player in the delivery sector.”
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™”, 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.
About Natural Plant Extracts of California
NPE is a fully licensed cannabis manufacturing, distribution and non-store front retail delivery. The Company has secured its licenses with the state of California and city of Lynwood, CA. For more information about the Company, please visit its website at https://nldistribution.com The owners and founders of NPE are marijuana industry veterans with decades of experience in establishing retail, manufacturing and distribution of cannabis in California, including obtaining the first retail dispensary licenses in Los Angeles, CA.
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 10-12G, 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.
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