OTCQB now, ready for #FarmBill passage to boost market all around
Marijuana Company of America Upgrades Its Trading Tier to the OTCQB
,Newsfile•December 12, 2018
Escondido, California--(Newsfile Corp. - December 12, 2018) - MARIJUANA COMPANY OF AMERICA INC. ("MCOA" or the "Company"
(OTC: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that the Company has upgraded its trading tier on the OTC Markets to the OTCQB Venture Marketplace.
MCOA views this as an important step in continuing to distinguish itself from other cannabis publicly traded companies. By upgrading its trading tier, the Company will have the ability of providing investors with transparent and reliable audited information of MCOA's operations, overviews of the Company's business strategy, as well as current financial statements every quarter.
By upgrading its trading tier, MCOA hopes to improve its image among institutional investor and broker communities. This upgrade removes some of the limitations put on Pinksheet companies and in turn gives the Company better access to a larger shareholder base and liquidity in the marketplace. The uplisting is also an integral requirement for the S1 registration statement that the Company expects to file with the SEC prior to year-end in order to fund its high growth objectives in 2019.
"Our Company will continue to be aggressive in executing our business plan and we believe this is a necessary step to help legitimize MCOA as one of the top fully reporting public cannabis companies involved in the hemp-derived CBD sector. MCOA will continue to expand our operations in the U.S. as well as launch our hempSMART™ product line internationally in 2019," said CEO Donald Steinberg.
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:
Corporate Communications Contact:
New York, New York