Escondido, California--(Newsfile Corp. - June 21, 2018) - MARIJUANA COMPANY OF AMERICA INC. (OTC Pink: MCOA) ("MCOA" or the "Company"), an innovative hemp and cannabis corporation, is pleased to provide an update on its New Brunswick Hemp Project with joint venture partner, Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) (the "Partners").
The joint venture recently completed the planting of 125 acres of industrial hemp at the New Brunswick Hemp Project location, in the northeast portion of the province of New Brunswick, Canada.
The Partners are also pleased to announce that an initial collaborative framework with the New Brunswick Department of Aquaculture, Agriculture and Fisheries (DAAF). The DAAF awarded a grant of $10,750 to the joint venture to support demonstration projects it will undertake during the current cropping season in New Brunswick. This grant will be directed to three areas of collaboration.
The first area of collaboration will be to study the impact of the European Corn Borer (ECB) on the hemp plant. From the cultivation trial last year, some hemp stalk damage was noted from the ECB. This study will determine if the ECB causes economically significant damage to the crop and will explore control options with further cooperative efforts. Results from this study could potentially benefit the entire emerging industrial hemp industry in New Brunswick;
In the second area of collaboration, the DAAF grant will be used to explore correcting soil acidity utilizing slag lime, an abundant resource in the region, and to subsidize the use of modern drone technology to monitor field conditions at the farms; and,
The third area of collaboration involves DAAF Nitrogen Fertility Project on a portion of one of the farms. The rates of Nitrogen fertilizer applied to hemp is being tested as a local follow up to research conducted at McGill University.
The Partners look forward to more collaborative efforts with the DAAF in the future. Information gained from these various initiatives will improve the management of the crop and benefit all hemp farmers in the region.
Hemp varieties chosen this year typically grow taller than six feet, and when planted at field crop densities, the height of the crop makes it virtually impossible to scout the entire field on foot and make visual observations of weak spots in the field greater than ten feet from the point of inspection. Because of this, Hawkeye Drone Services (http://hawkeyedroneservices.ca) has been engaged to fly over the hemp farms with drones equipped with multispectral cameras. This will provide a holistic view of a crop's growth, identify issues and better target field scouting. The data collected will also provide soil moisture, temperature, and utilizing specialized software which doesn't require years of background crop evaluations to determine physically stressed or unhealthy areas. Once stressed or unhealthy sections have been identified, a field scouting plan will be designed to pinpoint random representative observation spots. At these locations, soil moisture, pH, and weed pressure will all be measured. Hemp emergence and population will also be counted in these areas. These metrics will be utilized in evaluating possible differences in the growing conditions in the event that the CBD content differs in areas of stressed and healthy plants.
The Partners are also pleased to report that in preparation for the pending changes to the legal framework regarding the ability of farmers to process hemp biomass for the extraction of cannabinoids, the Partners have purchased a high capacity hemp dryer for the project. The dryer is expected to be delivered to the New Brunswick facility in early August.
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 recreations 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 Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG), is headquartered in Vancouver, British Columbia, Canada, with base operations in Montreal and Los Angeles. The Company is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company's Hemp Agro-Industrial Zone (HAIZ) strategy.
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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