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As the Democratic Party prepares to take control of the U.S. Senate and 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.
Los Angeles, CA – January 7, 2021
“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.