- Global cannabis market to hit $31 billion by 2021
- Diverse portfolio positioned along the cannabis and hemp value chains
- Completed financing for 30,000 sq. ft. greenhouse cultivation facility
- Wholly-owned subsidiary, HempSMART™, currently has CBD-based wellness products available for sale
A new report from market analyst the Brightfield Group, featured in Forbes (http://cnw.fm/XV6oq), estimates that global sales of cannabis will climb to $31.4 billion by 2021. The U.S., which “currently drives 90 percent of global cannabis sales,” will dominate this international business. In turn, a large share of the U.S. cannabis market will undoubtedly go to one of the six biggest economies in the world, the state of California. Marijuana Company of America, Inc. (OTC: MCOA) is a publicly traded company that was established in 2015 in California by Don Steinberg and Charles Larsen to execute their vision of creating an umbrella over a diverse portfolio of cannabis- and hemp-based companies. MCOA has already established a commanding presence at various points in the cannabis and industrial hemp cannabidiol (CBD) markets, as well as the related services supply chain.
In September 2017, MCOA entered into a joint venture with Global Hemp Group Inc. (OTC: GBHPF) (CSE: GHG), a Canadian public company, focused on conducting an industrial hemp pilot program in New Brunswick, Canada (http://cnw.fm/5RPvx). MCOA will be collaborating with Global Hemp Group to assist in the eventual development of a commercial industrial hemp cultivation project. Currently, the companies are conducting the first phase of hemp cultivation trials, the results of which will be used to…
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