ESCONDIDO, Calif., June 26, 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 that the Company’s wholly owned subsidiary, hempSMART, Ltd., has successfully launched and generated sales from its hempSMART™ CBD product line in Scotland.
On June 22, 2019, the hempSMART UK team successfully sold out at its launch event, which led to the sign-up of numerous new marketing associates. The Company’s launch event included an in-depth overview on the education of the CBD industry and its hempSMART products, as well as its marketing and compensation plans.
“We are delighted to report another milestone with the opening of hempSMART and our expansion into Scotland,” said Mr. Ian Harvey, Global Sales Director of hempSMART, Ltd. “There is a real demand for high-quality CBD products throughout Europe, and the success demonstrated from our sales in Scotland has confirmed this. After Saturday’s event, Scotland is an ideal location for the hempSMART brand, with future events and opportunity presentations already in place. I personally didn’t expect to ever be a part of a new company that could generate so much success and excitement in such a short period of time.”
“We are excited to finally offer our premium line of CBD products to the country of Scotland,” said Mr. Don Steinberg, CEO of MCOA. “It has always been MCOA’s goal to open sales of its hempSMART products in multiple countries around the world. Our Company anticipates additional expansions of our footprint into other EU countries moving into the second half of 2019.”
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™” and 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.
Forward Looking Statements
This news release contains "forward-looking statements" that 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 that 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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