MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative cannabis and hemp marketing and distribution Company, is pleased to announce that it has contributed the first installment of capital to Bougainville Ventures, Inc. (“BV”) in partial satisfaction of the joint venture agreement entered into earlier this year in Washington State.
MCOA received $375,000 in its first round of financing. This investment will contribute to funding the development of a state-of-the-art 30,000 sq. ft. greenhouse grow facility in Oroville, Washington. Once completed, the greenhouse facility will accommodate a cannabis production and processing tenant with a Tier 3, I-502 license with significant experience growing cannabis.
Marijuana Company of America Files Form 10 Registration Statement – Company Looks to Uplist to OTCQB
MARIJUANA COMPANY OF AMERICA, INC (“MCOA” or the “Company”) (OTC PINK: MCOA), an innovative cannabis and hemp company, is pleased to announce that it has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC).
Once the registration statement becomes effective, the Company will apply to upgrade its trading tier with OTC Markets to the OTCQB. Upgrading to the OTCQB is an efficient way to raise the Company’s profile among the investor and broker dealer communities, access greater liquidity, and trade on an SEC-recognized market, removing many of the trading restrictions placed on Pink market securities.
Quotes from Donald Steinberg, MCOA President and CEO:
Regarding the Financing for Joint Venture Project:
“I am very pleased that we obtained the financing to start our operations in Washington. We are projecting that this joint venture will soon be profitable and be a model that we can replicate in other states and countries. We are also happy to establish a relationship with a financing partner that is interested in supporting joint venture projects for MCOA in the future.”
Regarding Filing of Form 10 and Moving to OTCQB:
“Taking steps to become a fully reporting company is yet another way that we are distinguishing ourselves from most of the marijuana public companies that report under the Alternative Reporting Standards on the OTC Pink market, MCOA experienced substantial growth in 2016 and we hope to continue this momentum throughout 2017 as well. Our Form 10 filing and ongoing SEC reporting disclosures through audited annual financial statements, auditor reviewed quarterly financial statements and all material events will provide additional transparency to our shareholders and the investment community on our performance as we grow.”
Company Name: PublicWire
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