ESCONDIDO, Calif., June 27, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – MARIJUANA COMPANY OF AMERICA, INC. (“MCOA” or the “Company”) (MCOA), an innovative hemp and cannabis corporation, has continued the expansion of its wholly owned subsidiary, hempSMART, Ltd., into Europe, with its latest launch in the Netherlands.
As a result of the positive feedback received during its United Kingdom launch in March, the Company made a strategic decision to offer its hempSMART™ CBD product line and expand its European footprint further by holding an event on June 15, 2019, in the Netherlands.
“The Netherlands launch was a complete success, with people traveling from other parts of Europe to witness the excitement around our hempSMART™ CBD product line,” said Mr. Ian Harvey, Global Sales Director of hempSMART, Ltd. “The event featured our CEO, Don Steinberg, unveiling our wellness products via video link and educating people about the benefits of our prime quality botanical ingredients. Our products sold out at the end of the event, and we engaged new marketing associates for hempSMART™ as evangelists to the brand that will help spread our vision.”
“Our high-quality CBD products combined with our compilation of highly knowledgeable hempSMART™ team members have effectively increased the Company’s footprint into the compelling European market,” said Mr. Steinberg.
The Brightfield Group, a predictive market intelligence firm focused on the legal CBD and cannabis industries, opined on March 26, 2019, that the European CBD market was estimated at $318 million in 2018 and is expected to grow over 400 percent by 2023. Brightfield’s assessment was based on its opinion that CBD is just starting to take hold in Europe, and presents a great opportunity for developed brands to enter and expand into.
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 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.
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 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.