ESCONDIDO, Calif., May 30, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – MARIJUANA COMPANY OF AMERICA
INC. (“MCOA” or the “Company”) (OTC:MCOA), an innovative hemp and cannabis corporation,
is pleased to provide an update on its 125-acre industrial hemp project in northeast New Brunswick with joint venture partner
Global Hemp Group Inc. (CSE:GHG) (OTC:GBHPF) (FRANKFURT:GHG).
The planting of the seeds on the first 77 acres will be completed this week. The remaining 48 acres will be seeded
over the next two weeks, once the farmers receive soil test results for this acreage and are able to determine fertilizer
requirements for this year’s cultivation.
The Department of Aquaculture Agriculture and Fisheries (DAAF) will also be conducting fertility trials on reserved
plots at participating farms. DAAF will contribute the fertilizers to the project as part of these trials. The trials will be
conducted at no cost to the project and are a clear indication of the collaborative relationship that has been established with
DAAF.
In addition, there is an organic certification trial underway on an additional two-acre plot at the project. It
will take three years to complete the organic certification process for this field. As part of the process, the plot will begin a
three-year cultivation rotation of hemp, oats and a green manure crop to be defined at a later date. In three years this plot will
produce certified organic CBD and organic oats, a crop with an excellent market.
Project managers are currently evaluating drying equipment that will be required to process the biomass after it is
harvested. Drying will prepare the biomass for shipment to processors for extraction of the cannabinoids. Management is in
discussions with a number of potential processing partners for this material. A final decision will be made in the coming
weeks.
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:GBHPF) (FRANKFURT: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 10-12G, 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.
For more information, please visit the Company’s websites at:
MarijuanaCompanyofAmerica.com
hempSMART.com
NetworkNewsWires/MCOA
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