LOS ANGELES, CA / ACCESSWIRE / July 12, 2022 /Marijuana Corporation of America Inc. (“MCOA” or “Company“) (OTC PINK:MCOA), an innovative cannabis and cannabis company, announced today the appointment of former director Marco Guerrero as special counsel to the Company’s hempSMART™ South America division.
MCOA’s Latin America hempSMART™ joint venture currently serves medical users in Brazil who purchase cannabis-derived CBD hempSMART™ products by prescription from Brazilian doctors. Brazil, a country with more than 212 million consumers, is buying CBD in rapidly expanding quantities. MCOA aims to expand our consumer base by bringing more of our high quality hempSMART™ product portfolio to Brazil and other Latin American countries.
Mr. Guerrero resigned from MCOA’s Board of Directors on July 1, 2022 to work with the Company as a non-executive advisor to our wholly owned subsidiary Hempsmart Global, Inc., the parent company of MCOA’s Latin America hempSMART™ joint venture. . This new position will require him to focus solely on entering the Brazilian market. As a result, there was a mutual agreement for Marco to step down as director of the MCOA.
Jesus M. Quintero, CEO and CFO of MCOA, said: “Our joint venture in Brazil provides a solid foundation for our sales of the hempSMART™ product line in Brazil and other key South American markets and is an important strategic partnership for MCOA. resident hempSMART brand Marco Guerrero is building our South America framework and by adding him as a dedicated advisor to this MCOA division, we are looking to increase sales in the region. We’re focused on the significant market penetration opportunity in the expanding Brazilian CBD market.”
About Marijuana Corporation of America, Inc.
MCOA is (1) an organization involved in product research and development of legal cannabis-based consumer products under the brand name “hempSMART™” aimed at general health and well-being; (2) an affiliate marketing program to promote and sell legal cannabis-based consumer products containing CBD; (3) expansion of its business into legalized cannabis and cannabis industry ancillary areas as legalized markets and opportunities in this segment mature and evolve.
About Hempsmart Brazil
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 from industrial hemp are not marketed or sold based on claims that their use as drugs or dietary supplements, subject to FDA jurisdiction, is an effective treatment for any medical condition.
This news release contains “forward-looking statements” that are completely non-historical and may include any statements regarding beliefs, plans, expectations, or intentions for 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” the project. “, “plan,” or similar statements may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those projected in forward-looking statements due to numerous factors. Such factors include, among others, new projects, inherent uncertainties regarding future US and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. made as of the date of this newsletter, and we undertake no obligation to update the forward-looking statements or to update the reasons why actual results differ from those projected in forward-looking statements. ts. While we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there is no guarantee that such beliefs, plans, expectations or intentions will be true. Investors should consult all information set forth herein and also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q, and other periodic reports filed with the Bank from time to time. Securities and Exchange Commission. For more information please visit www.sec.gov.
SOURCE: Marijuana Corporation of America, Inc.
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