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Innovative hemp and cannabis corporation Marijuana Company of America Inc. (OTCQB: MCOA) this morning announced that its wholly owned subsidiary, hempSMART Ltd., is taking steps to list on the Vienna Stock Exchange with the goal of raising sufficient capital to expedite the rollout of its hempSMART product line in Europe. In line with this offering, MCOA intends to sell a minority interest in hempSMART Ltd. for up to $10 million. Per the update, the company expects that all necessary steps to trade on the Vienna exchange will be completed by the third quarter of 2019. “We are very excited to do an IPO of hempSMART, Ltd. on such a reputable European exchange,” Don Steinberg, CEO of MCOA, stated in the news release. “This is a huge leap forward to obtain the necessary capital to bolster our European launch and become a top hemp brand in Europe. Europe’s cannabis and hemp markets are undergoing a critical phase in their growth and this is the optimum time to establish our brand as a leader.”
To view the full press release, visit http://cnw.fm/6kNQ7
About Marijuana Company of America Inc.
MCOA 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. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
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