ESCONDIDO, Calif., March 12, 2018 (GLOBE NEWSWIRE) — via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC:MCOA), an innovative hemp and cannabis corporation, is pleased to announce the official launch of Convenient Hemp Mart, LLC’s “Benihemp” branded CBD products at ASD Market Week, one of the largest business-to-business trade shows in the world.
Convenient Hemp Mart has developed a collection of Benihemp branded, sample sized products for consumers including topicals, tinctures, and edibles packaged in 1-day, 2-day, and 30-day supplies. The target markets are convenience stores, smoke shops, gas stations and similar types of retail businesses where CBD commerce has a greater likelihood of generating sales from the impulse buyer at the register.
Convenient Hemp Mart is officially launching the Benihemp product line at ASD Market Week (www.asdonline.com) in Las Vegas, NV. ASD is a comprehensive business-to-business trade show for retail merchandise that annually hosts 45,000 buyers from over 90 countries, representing major department stores, convenience stores, gift shops, grocery stores, and other retail stores. Out of the 45,000 attending the show, 98% of the attendees have purchasing power, and the average buyer spends a total of $82,500 on product orders per show. Benihemp will be located in the lower south hall at booth SL2449.
MCOA has invested $100,000 into Benihemp in exchange for a 25% equity stake in Convenient Hemp Mart, LLC.
Donald Steinberg CEO of MCOA stated, “Marijuana Company of America is excited for the opportunity to diversify product distribution into retail markets across the country. We believe in the Convenient Hemp Mart team and their ability to successfully launch Benihemp at ASD.”
“We are eagerly looking forward to the unveiling of the Benihemp brand at this ASD Marketplace event. With the ever-growing Convenience store marketplace hitting a new record of over 140 billion dollars in annual sales last year, we believe this is the perfect place to present the first industrial Hemp derived products developed specifically for this market. Our team has worked very diligently for the launch of the Benihemp brand and are all thrilled that it has finally come to life,” said Sam Girges of Benihemp.
About Marijuana Company of America, Inc.
MCOA is a corporation which 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 recreations 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.
About Our Benihemp 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 derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA’s jurisdiction.
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 10-12G, 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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