LOS ANGELES, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Marijuana Company of America (OTC: MCOA) and Cannabis Global Inc. (OTC: CBGL), an innovation-oriented company investing in disruptive cannabis and hemp-related technologies, each of which is the largest shareholder of the other, today discuss their planned strategies as the Democratic Party prepares to take control of the U.S. Senate. With Democrats controlling the legislative agenda for the foreseeable future, MCOA and CBGL anticipate congressional action that will lift prohibitions on cannabis, creating a new national market for cannabis and cannabis products.
“With Democratic control over the executive and legislative branches, the prospects for ultimate passage of the MORE Act, which will remove cannabis from the list of federally controlled substances, are excellent. In preparation, we are collaborating with MCOA to address what we believe will be a strong national market and increased internalization of the robust American cannabis marketplace,” stated Arman Tabatabaei, CEO of CBGL.
MCOA and CBGL recently announced their intent to penetrate and expand their reach in South America and Europe in 2021. The companies believe that the de-scheduling of cannabis as a federally controlled substance in the United States will meaningfully accelerate this process and allow expansion into even more international markets.
Jesus Quintero, CEO of MCOA, added, “Our new joint ventures with MR Hemp Uruguay and MR Hemp Brazil provide us with fresh distribution opportunities that will bolster global expansion. We expect U.S. legalization to accelerate this and other international business opportunities, which are well underway. With the Democrats in control of the U.S. legislative agenda, we foresee many of the hurdles we face in the U.S. and into the U.S. export markets to be significantly easier to navigate.”
Cannabis Global plans to address the national cannabis market through its Comply Bag™ Cannabis Transport system and patent-pending infusion technologies. The company will also pursue expanded investments into new business operations, such as Natural Plant Extract (NPE), which operates licensed cannabis manufacturing and distribution, and Whisper Weed Inc., a cannabis delivery service for which Cannabis Global provides contracts management services.
Tabatabaei continued, “We have assembled a robust set of assets and investments to target what we believe will soon be a true national cannabis market. Through Comply Bag™, NPE, Whisper Weed and our IP portfolio, we will target intra and interstate cannabis transport, manufacturing and distribution, cannabis-related ingredients for manufacturers, and delivery services. We believe we are strongly positioned with this developing portfolio of technologies and investments, and plan even more expansion over the coming months.”
About Marijuana Company of America Inc.
Marijuana Company of America (OTC: MCOA) is an emerging industry leader focused on product development and sales & marketing with its proprietary botanical ingredients legal hemp-based cannabidiol (“CBD”) quality products under the brand name “hempSMART™”. The Company’s premium quality products are double lab tested for purity and potency and sold to wholesalers, distributors, via online e commerce consumer platform, and a proven network affiliate marketing program. The Company recently announced plans for international sales, production, and marketing expansion.
For more information, please visit: www.MarijuanaCompanyofAmerica.com
About Cannabis Global Inc.
Cannabis Global Inc. (OTC: CBGL), formerly MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission. Cannabis Global is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The company does not engage in the production, distribution or sales of any controlled substances, including marijuana. Cannabis Global has an actively growing portfolio of intellectual property with six patents filed in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel™ brand name. Cannabis Global launched its Project Varin early in 2020 to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (THV-C) and to develop products based on this cannabinoid.
Forward-looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding 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," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should 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 from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov
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SOURCE Marijuana Company of America, Inc.