BONSALL, CA--(Marketwired - May 3, 2017) - MARIJUANA COMPANY OF AMERICA ("MCOA" or the "Company") (
This investment will serve as an excellent resource for MTT in their current objective of establishing the MoneyTrac Technology payment platform as a major competitor within the alternative banking sector, and more specifically be leveraged in their efforts to extend their marketing campaign to cannabis-related companies who are at the core of MTT's target market.
In addition to this investment from MCOA, MTT is also pleased to announce that its Board of Directors ("the Board") has approved the appointment of MCOA CEO, Don Steinberg as a board member with the intention of diversifying their Board through his invaluable experience and knowledge in the early-stage development of companies, and overseeing MCOA shareholder's investment into MTT.
In addition to his current role at MCOA as founder, CEO and director, Mr. Steinberg was also the founder of Medical Marijuana Inc., the first publicly traded marijuana company in 2009.
"We are pleased and appreciative of the confidence and enthusiasm MCOA has demonstrated with this investment, and we are committed to leveraging it in the most effective manner possible in this all-important stage of our development," said MTT CEO, James Hancock. "We are also thrilled to welcome Mr. Steinberg to our Board as his experience extends to every corner of business development and operations, from company offerings, product and service management, and to the implementation of strategic marketing campaigns. I have had the distinct pleasure of working with him on several projects over the last decade and look forward to the expertise and energy he will bring to our Board," Mr. Hancock further remarked.
"I am honored to be given the opportunity to join Mr. Hancock and Ms. Vanessa Luna on the MoneyTrac Board. The electronic payment and compliance features available through the MTT technology platform are the solutions many sectors of our Cannabis industry have been looking for, and I look forward to providing the MTT Board with guidance and support to help move their objectives forward in the most effective way possible," said Mr. Steinberg.
About Marijuana Company of America (MCOA)
Marijuana Company of America ("MCOA") is a publicly traded company headquartered in Southern California. MCOA will distribute marijuana and products related to marijuana as well as CBD and hemp, using a variety of marketing approaches to distribute on a global basis.
ABOUT MONEYTRAC, INC.
MoneyTrac Technology, Inc. (www.moneytractechnology.com) is a pioneer in offering a full-service solution for alternative banking and electronic financial solutions and provides all aspects of financial technology including E-Wallet and mobile apps services for businesses and companies in various "high-risk" industries. MoneyTrac's technology platform allows for its clients to access their financial information from anywhere in the world, in addition to providing tracking and compliance to help them manage and control the flow of all revenue through their business.
ABOUT GLOBAL PAYOUT
Since the Company's inception in 2009, Global Payout, Inc. (www.globalpayout.com) has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
SAFE HARBOR STATEMENT
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.