ESCONDIDO, Calif., June 24, 2020 Marijuana Company of America, Inc. (OTCQB: MCOA) (“MCOA” or the “Company”), an innovative hemp and cannabis corporation, announces that MCOA and White Lion Capital, LLC have signed an agreement for a $10,000,000 (ten million US dollars) equity line of credit. White Lion Capital, LLC is a millennial run equity fund, based out of Los Angeles that makes investments into growing public companies.
hempSMART will begin manufacturing new hempSMART product lines: Pure line, Luxe line and the SMART line according to the Company’s Marketing and Distribution strategies. HempSmart Global (HS Global) will unveil new products for the SMART line directed at young consumers who are active, and knowledgeable about high quality CBD to enhance their lifestyle and well being. In addition, HS Global will introduce its Luxe beauty Line that includes high quality CBD skincare products for both men and women. hempSMART Global’s new retail / wholesale website is currently under construction and will be ready to launch when the new products arrive to our fulfillment center.
“We are very excited to acquire this new equity credit line as this will facilitate our efforts to execute our marketing strategies and Company projects. We have been working diligently to get all the pieces in place so that our roll-out will be smooth and unified,” states Gloria Albarran Lynch, Chief Marketing Officer. “Our new product lines are positioned to engage a vast audience, both domestically and internationally. With the strength of the CBD wellness and beauty industry that is expected to grow beyond $25 billion globally in the next decade, we intend to take full advantage of this tremendous opportunity and take a leading position in this market.”
The Company is in the process of filing an S-1 Registration statement with the Securities and Exchange Commission in order for the equity line with White Lion to become effective. The Company expects that this filing will be completed early in the third quarter of 2020.
Jesus Quintero, CEO of MCOA states “we look forward to a great partnership with White Lion Capital as their assistance will propel MCOA to the level of success we are working towards, as we steer away from traditional convertible notes and shift more to an “investor” equity based participation model.”
Robert Hymers, Strategic Consultant and MCOA’s Co-Founder stated, “I have been working with White Lion for over a year to position them to get involved with MCOA and several other substantial micro-cap cannabis companies. It is rewarding to see young entrepreneurs from my alma matter (Cal State, Northridge) ambitiously following in my footsteps to pave the way for investing a substantial amount of capital in the cannabis sector. It’s a testament to CSUN’s high caliber business department and academic focus on promoting an emphasis on equipping entrepreneurs with functional knowledge that is helping them to become key players in the public company landscape.”
Steven Smith, CEO Owner/Founder
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