- Global market for marijuana projected to be worth $63.5 billion by 2024
- MCOA is leading the way in hemp-derived CBD-based products
- MCOA is evaluating further joint ventures and acquisitions to enhance shareholder value
A study conducted by Ameri Research Inc. has indicated that the global market for legal marijuana will be worth $63.5 billion by 2024 (http://ibn.fm/JvR0N). This growth is being driven by the increasing passage of cannabis legislation, in terms of both laws for medicinal use and the rapidly expanding recreational use legislation being passed by many states in America and countries around the world. More and more companies are entering this market sector to take advantage of the plethora of available business opportunities. Marijuana Company of America, Inc. (OTC: MCOA) is a company that provides a wide assortment of products and services in the hemp industry. It is establishing itself as a leader in the hemp space by creating a diversified umbrella of investments involved in cultivation, processing, manufacturing and distribution.
MCOA’s wholly owned subsidiary, hempSMART™, was established to develop hemp-derived, innovative cannabinoid (CBC, CBD, CBG, CBN)-based consumer products. Its manufacturing process uses the highest quality extracts from hemp for its proprietary formulations, with complimentary herbal ingredients used to enhance and maximize the effects of CBD. One of its foremost products is hempSMART Pain, which is available in both capsules and a topical cream that have been found to be highly effective. Its first product, hempSMART Brain, is currently being reformulated with 10mg of CBD. hempSMART Full Spectrum Drops, with 250mg of CBD per bottle, will soon be available in 500mg and 1,000mg bottles. Drops are formulated with hemp oil and fractionated coconut oil, and they are available in lemon, mint, orange and strawberry flavors. The company also recently released hempSMART Drops for pets.
MCOA is focused on developing more hemp cannabinoid-based products, which will be marketed at competitive prices. As part of its marketing drive, the company has established an affiliate-marketing program and will soon be establishing traditional retail and direct-to-consumer marketing campaigns designed to accelerate market penetration.
Earlier this year, MCOA announced its purchase of an interest in Convenient Hemp Mart, LLC. This company was established to market the new Benihemp-branded CBD product line to convenience stores, gas stations, smoke shops and other retail outlets. Benihemp was launched at the ASD Market Week in Las Vegas (March 11-14). MCOA has invested $100,000 in Benihemp in exchange for 25 percent equity in Convenient Hemp Mart, LLC. The partners are launching topicals, edibles and tinctures in one-, two- and thirty-day supplies where CBD commerce has a greater likelihood of generating sales from the impulse buyer at the register who will ultimately purchase monthly supplies online after purchasing smaller sample packages at lower price points at convenience stores.
Through a joint venture with Global Hemp Group Inc. (OTC: GBHPF) (CSE: GHG), MCOA is establishing commercial hemp cultivation to produce CBD in New Brunswick, Canada. The company has recruited farmers to manage 125 acres of hemp cultivation in 2018 and has set a goal of more than 1,000 acres within the next three years. Initially, MCOA will focus on using this crop for CBD and, ultimately, other cannabinoid extraction. Medium- to long-term plans also include the production, processing and sale of hemp for industrial use, particularly in the construction industry.
The hemp industry is experiencing exponential growth and MCOA intends to make strategic investments, joint ventures and acquisitions to expand its portfolio and increase value for its shareholders.
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
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