Marijuana Company of America and Cannabis Global in Joint Shareholder Letter Addressing National Cannabis Market

ESCONDIDO, Calif., Dec. 03, 2020 (GLOBE NEWSWIRE) -- MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and cannabis corporation, today announced a joint letter to shareholders of the Company and its recent share exchange partner Cannabis Global, Inc.

Dear Shareholders of Marijuana Company of America and Cannabis Global:

As we have discussed with many of you, Marijuana Company of America, Inc. (OTC:MCOA) and Cannabis Global, Inc. (OTC:CBGL) recently entered into an agreement where each became the largest shareholder of the other. Thus, CBGL owns 650 million shares of MCOA and MCOA owns just over 7.2 million shares of CBGL. The Companies engaged in this transaction to promote the growing common interests and collaborations between these two pioneering cannabis and CBD operations.

Both companies have recently enhanced their programs to maximize shareholder value. MCOA is aggressively overhauling its marketing strategy, rapidly expanding its product line’s geographic reach, and revamping its capital and debt structures. The two companies have agreed to collaborate in several areas, including expanding product offerings in Europe and Latin America and developing Cannabis Global’s Project Varin designed to discover and market new methods to infuse hemp extracts and cannabis into food, beverages, and other consumer products.

Both companies have big plans for 2021. We are thrilled you have chosen to join in our journey to enhance shareholder value as the hemp and cannabis industries move into 2021. Next year will likely be another year of strong growth for market participants and the sector’s investors.

Here is a summary of our plans through the end of 2020 and into 2021:

Marijuana Company of America (OTC:MCOA):

Throughout 2021, investors should expect the Company to continue to revitalize and expand its marketing efforts relative to the innovative hempSMART product line, with a strong emphasis on further enhancing our already strong product quality among consumers.

MCOA has taken significant strides to address convertible debt levels, having cycled through nearly half of our legacy debt. While there is still more work to do in this area, we are committed to continuing the transition from debt financing to equity financing, which is far less dilutive for all stakeholders in the Company. Our recently effective S-1 filing with the U.S. Securities & Exchange Commission is a big step in the right direction.