ESCONDIDO, Calif. – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTCQB: MCOA, an innovative hemp and cannabis corporation, announced the official launch of its premium cannabis delivery service, VivaBuds, in the San Fernando Valley, California.
In April, the Company announced it had acquired a 20% ownership interest in Natural Plant Extract of California (“NPE”) to establish a joint venture to create VivaBuds, a California marijuana delivery company that offers customers a dynamic opportunity to purchase low-cost premium cannabis products directly from farmers using a “Tell a Friend” approach. For more information, please visit the VivaBuds website at www.VivaBuds.com. The VivaBuds mobile application is currently live on Google Play and available for download on all Android devices.
“We are extremely pleased to have officially launched our delivery service throughout the San Fernando Valley, where demand for cannabis continues to increase unabatedly,” said CEO of MCOA Mr. Donald Steinberg. “We believe that by providing delivery and our high-quality premium products to our consumers, we will increase revenues, expand margins, and improve our overall brand recognition. I am confident that this new endeavor dovetails perfectly with our commitment to become a global leader in the legal production, processing, and distribution of cannabis products. Going forward, management will continue to leverage strategic operations and decisions that enhance value for all our shareholders.”
According to an August 15, 2019 Los Angeles Times article, California is on pace to secure $3.1 billion in licensed cannabis sales in 2019, representing the largest legal marijuana market in the world. Legal sales have increased from approximately $2.5 billion in 2018, the first year of licensed cannabis sales in California, according to the analysis by sales-tracking firms Arcview Market Research and BDS Analytics.
About Marijuana Company of America, Inc.
MCOA is a corporation that 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 recreational 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.