ESCONDIDO, Calif., Nov. 15, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- MARIJUANA COMPANY OF AMERICA
INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and
cannabis corporation, and its joint venture partner Global Hemp Group Inc. (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) (the
“Partners”) wish to provide an update on the harvest at their CBD hemp project in New Brunswick (“NB”), Canada.
The 2018 cultivation consisted of 125 acres contracted from four farmers in the northeast region of NB, utilizing three Health
Canada approved cultivars with an expected CBD content of 1.5% to 2.5%. This group of enthusiastic and innovative farmers was
of great assistance to the project over the course of the season. Harvesting of hemp for cannabinoid extraction required some
innovation to handle both the harvesting and initial processing of the hemp. Dr. Paul Perrault, GHG Director and New Brunswick
Project Manager stated, “We want to thank the farmers for their creativity and willingness to find solutions to the challenges that
arose as we worked through the harvesting and drying process for this year’s cultivation.”
The harvest in NB has been completed. In order to process the hemp for cannabidiol (“CBD”) the first step in the process is
drying the biomass. The team set up three drying facilities, the main industrial-scale biomass dryer located at the group’s
facility in Bathurst (as announced August 30, 2018), and two smaller refurbished tobacco kilns were installed onsite at two of the
farms. The auxiliary drying units installed on the farms arrived later in the season are currently being made ready to be
operational for use in the 2019 growing season.
The Partners now have 17.5 tonnes of dried biomass in storage from this year’s harvest, a yield lower than expected due to
weather issues, some minor pest issues and a bottleneck in processing the harvested hemp material. In order to address the
processing issues encountered in this year’s operations, members of the engineering department of the Collège Communautaire du
Nouveau Brunswick (CCNB) were brought in to assist in identifying solutions to expedite harvesting and increase efficiency in the
processing of the hemp. With the assistance of CCNB we expect to improve the harvesting system to minimize straw intake at harvest
and to adapt the tobacco kilns to processing hemp tops. Discussions are underway with CCNB to formalize this collaboration around
two projects on harvesting and processing which will involve the current group farmers. Their experience will be invaluable in this
research. In addition, with the advent of the additional tobacco dryers, decentralized drying and storage at the farm level
will be introduced for the 2019 cultivation. Such additional dryer capacity at the farm level will reduce the drying bottleneck
experienced this year and will minimize the Company’s carbon footprint by significantly reducing the transport cost of moving tons
of moisture laden material.
The Partners are now evaluating how best to monetize this year’s harvest. At this point they have had discussions with a number
of potential purchasers of the biomass.
The 2018 hemp cultivation provided the group with a tremendous amount of knowledge and experience from this year’s larger scale
operation. The Partners continue to be committed to hemp cultivation and processing in northeastern New Brunswick. We are convinced
significantly better results can be achieved with improved genetics and further refinement of farming and processing practices.
Industrial hemp cultivars containing 4-5% CBD already on trial in NB would more than double the performance of current cultivars
used in 2018, but have not yet been registered for use as a Health Canada approved cultivar.
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 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.
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
NetworkNewsWire/MCOA
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