A new report from market analyst the Brightfield Group, featured in Forbes (http://cnw.fm/XV6oq), estimates that global sales of cannabis will climb to $31.4 billion by 2021. The U.S., which “currently drives 90 percent of global cannabis sales,” will dominate this international business. In turn, a large share of the U.S. cannabis market will undoubtedly go to one of the six biggest economies in the world, the state of California. Marijuana Company of America, Inc. (OTC: MCOA) is a publicly traded company that was established in 2015 in California by Don Steinberg and Charles Larsen to execute their vision of creating an umbrella over a diverse portfolio of cannabis- and hemp-based companies. MCOA has already established a commanding presence at various points in the cannabis and industrial hemp cannabidiol (CBD) markets, as well as the related services supply chain.
In September 2017, MCOA entered into a joint venture with Global Hemp Group Inc. (OTC: GBHPF) (CSE: GHG), a Canadian public company, focused on conducting an industrial hemp pilot program in New Brunswick, Canada (http://cnw.fm/5RPvx). MCOA will be collaborating with Global Hemp Group to assist in the eventual development of a commercial industrial hemp cultivation project. Currently, the companies are conducting the first phase of hemp cultivation trials, the results of which will be used to establish commercial cultivation in 2018. In the first year of the joint venture, MCOA has shared the costs of the ongoing hemp trial, provided its expertise in developing hemp cultivation and granted a right of first refusal for Global Hemp’s output. The project is also receiving research support from Collège Communautaire du Nouveau Brunswick (CCNB) located in Bathurst, New Brunswick, and cultivation consulting from Space Cowboys, Inc.
Read the full article