NetworkNewsBreaks – Marijuana Company of America
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Posted On: 04/17/2019 5:52:51 PM
NetworkNewsBreaks – Marijuana Company of America Inc. (MCOA) Announces 20 Percent Equity Acquisition and Joint Venture Agreement with NPE of California
Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) this morning announced its official acquisition of a 20 percent ownership interest in Natural Plant Extract of California (“NPE”). According to the update and under the agreement terms, MCOA has committed to contribute $2,000,000 in total cash to the project as well as $1,000,000 in its common shares in exchange for a 20 percent equity position in NPE. In addition, MCOA and NPE have officially entered a joint venture agreement to establish Viva Buds as a premier cannabis delivery company, from which both NPE and MCOA will share in 50/50 profits. “After a great deal of due diligence and strategic planning, we are happy to execute an agreement to purchase ownership in NPE,” MCOA CEO Don Steinberg said in the news release. “This is a major step in staying true to our name Marijuana Company of America and entering into the marijuana industry in California. We have aspirations of becoming a major distributor, delivery service and manufacture in California. NPE is ahead of most of the competition in the state in terms of permitting, build-out and licensing.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) this morning announced its official acquisition of a 20 percent ownership interest in Natural Plant Extract of California (“NPE”). According to the update and under the agreement terms, MCOA has committed to contribute $2,000,000 in total cash to the project as well as $1,000,000 in its common shares in exchange for a 20 percent equity position in NPE. In addition, MCOA and NPE have officially entered a joint venture agreement to establish Viva Buds as a premier cannabis delivery company, from which both NPE and MCOA will share in 50/50 profits. “After a great deal of due diligence and strategic planning, we are happy to execute an agreement to purchase ownership in NPE,” MCOA CEO Don Steinberg said in the news release. “This is a major step in staying true to our name Marijuana Company of America and entering into the marijuana industry in California. We have aspirations of becoming a major distributor, delivery service and manufacture in California. NPE is ahead of most of the competition in the state in terms of permitting, build-out and licensing.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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