Marijuana Company of America Inc. (“MCOA”), an innovative hemp corporation, announced today that in an effort to shift to fully focus on its hempSMART ™ CBD Consumer Products Division. Company officials reported the previous division has dissolved itself of a Joint Venture with Canadian-based Global Hemp Group, Inc. According to Jesus Quintero, CEO, and CFO, “This was the perfect time for us to exit our Joint Venture as we plan our year-end of 2020 and start of 2021 focusing on building up our hempSMART CBD business. We’re committed to adapting to the changing cannabis market in order to maximize our Company’s growth. We have already begun our new phase of development, and expect to see an increase in revenue during the remainder of the year with added international expansion.” Also, according to the terms of the dissolution: GHG accepts to make a two cash payment to MCOA, one on or before September 30, 2020, and the other on or before November 15, 2020.
Mmp News Author, Medical Marijuana Program Connection, 09/30/2020 10:41:20
Open article: https://mmpconnect.com/marijuana-company-of-america-announces-strategic-shift-to-hempsmart-with-dissolution-of-joint-venture-with-global-hemp-group-inc/