NetworkNewsBreaks – Marijuana Company of America
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Posted On: 12/15/2021 3:22:58 PM
NetworkNewsBreaks – Marijuana Company of America Inc. (MCOA) Completes Strategic Acquisition, Expands Footprint in Country’s Largest Cannabis Market
Marijuana Company of America (OTC: MCOA), a diversified holding company with operations and investments throughout the cannabis industry, today announced that it has recently completed the acquisition of VBF Brands Inc. A Salinas, California-based marijuana cultivator and distributor, VBF was previously a wholly-owned subsidiary of Sunset Island Group Inc. (OTC: SIGO). MCOA expects that, based on activity since the acquisition was consummated in Q3 2021, the transaction will continue to be highly accretive to the company’s EBITDA expectations for 2022 and will work towards increasing production at a nearby Salinas-based facility that also offers exponential growth opportunities with other nearby land and facilities. California is the country’s largest legal cannabis market and offers tremendous potential for MCOA with this acquisition that includes cannabis nursery, manufacturing/distribution and cultivation licenses. “The acquisition of VBF Brands Inc. perfectly encapsulates MCOA’s strategy to expand our business by organic growth and acquisitions of synergistic and often undercapitalized assets existing today in the cannabis industry,” said Jesus Quintero, CEO of Marijuana Company of America. “We are confident that providing this entity with capital and operational depth to the already impressive operations will increase the capacity and greatly bolster our position in the California cannabis market.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Marijuana Company of America (OTC: MCOA), a diversified holding company with operations and investments throughout the cannabis industry, today announced that it has recently completed the acquisition of VBF Brands Inc. A Salinas, California-based marijuana cultivator and distributor, VBF was previously a wholly-owned subsidiary of Sunset Island Group Inc. (OTC: SIGO). MCOA expects that, based on activity since the acquisition was consummated in Q3 2021, the transaction will continue to be highly accretive to the company’s EBITDA expectations for 2022 and will work towards increasing production at a nearby Salinas-based facility that also offers exponential growth opportunities with other nearby land and facilities. California is the country’s largest legal cannabis market and offers tremendous potential for MCOA with this acquisition that includes cannabis nursery, manufacturing/distribution and cultivation licenses. “The acquisition of VBF Brands Inc. perfectly encapsulates MCOA’s strategy to expand our business by organic growth and acquisitions of synergistic and often undercapitalized assets existing today in the cannabis industry,” said Jesus Quintero, CEO of Marijuana Company of America. “We are confident that providing this entity with capital and operational depth to the already impressive operations will increase the capacity and greatly bolster our position in the California cannabis market.”
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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