ESCONDIDO, CA–(Marketwired – Sep 21, 2017) – MARIJUANA COMPANY OF AMERICA (“MCOA” or the “Company“) (OTC PINK: MCOA), in conjunction with its joint venture partner, Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC PINK: GBHPF), is pleased to provide an update on the hemp cultivation trials conducted in New Brunswick, Canada.
The field portion of this first-year trial is now complete, with results from laboratory analysis of CBD concentrations of the flowers and leaves expected within the next two to four weeks. For this initial growing season:
– two farmers were contracted in northeast New Brunswick to participate in the trial
– three varieties of hemp were grown on Test Plot 1 (CFX1, CFX2 & CRS1)
– two varieties of hemp were on Test Plot 2 (CFX1 & CFX2)
– three planting densities were utilized (15, 30 & 50 kg/ha)
– straw yields ranged from 1.10 to 2.47 tons/ha
– flower production ranged from 0.79 to 1.69 tons/ha
These results confirm what was seen from casual observation. This year’s yields are somewhat lower than expected, due to the late planting and incomplete field preparation (both which will be rectified for the 2018 cultivation), and lack of rainfall in the spring. In 2018, taller varieties of hemp will be grown to increase straw yields and flowers. For the 2017 trial, the CRS1 outperformed the other varieties in straw production, and CFX2 produced the best flower yields. These results are indicative of the performance of varieties under largely unfavourable conditions.
Farming – As the future focus of the project will be on flower and straw production, other varieties with higher straw and similar flower yields will be selected for next year. MCOA and GHG are currently evaluating a number of varieties for the coming year.
Next year’s production will focus on five experienced farmers cultivating a total of 125 acres. MCOA and GHG have also recruited an agronomist to provide agronomic support to the farmers. Interaction with the farmers will be essential in finding solutions to practical problems that will inevitably arise. To maximize the visibility of the hemp farming experience in the region, farmers were selected across the northeast region of NB.
Industrial site selection – Bathurst appears to be the logical central point to process the straw and flowers coming from as far as Campbellton (75 km to the west) and from Miramichi (75 km to the southeast). The area comprises close to 40,000 acres, mostly in field crops, making hemp an excellent alternative.
There are many industrial sites currently available in the Bathurst region since the closing of the paper mill and mines in the area. The city of Bathurst identified a number such sites in and around its industrial zone that Management recently visited. The mayor of Bathurst and his team were very supportive in the effort to bring processing/job creation to the region. Other sites outside the Bathurst city limits were also explored as possible processing locations.
Research and training – Bathurst is also the site of a very dynamic college, the CollÃ¨ge Communautaire du Nouveau Brunswick (CCNB), with its innovation center designed to support innovation in industry. The project has already benefited from its laboratory capacity in analyzing this year’s hemp samples. The centre is expected to be helpful in addressing some of the technical issues associated with crop production and processing, and training.
Selection of industrial processes.
MCOA and GHG plan to focus on the processing of the flowers for cannabinoid extraction as legislation permits, and the straw for fibre and hurd products. Discussions regarding the engagement of key technological partners is continuing. Once finalized, they will be included in the next version of the project overview that will be submitted to Opportunities New Brunswick in the coming months.
About Global Hemp Group Inc.
Global Hemp Group (“GHG”) is a publicly traded company founded in 2012, headquartered in British Columbia, Canada with base operations in Montreal and Southern California. The Company is focused on the production and processing of hemp and cannabis, and collaboration with companies that will enable GHG to develop and implement the Hemp Agro-Industrial Zone concept. Through partnerships, joint ventures and acquisitions, the Company will capture cash flow, revenues and value, and establish a greater collective valuation.
About Marijuana Company of America, Inc.
MCOA is a corporation engaged in business including, but not limited to: (1) product research and development of legal hemp-based consumer products containing CBD under the brand name “hempSMARTâ„¢”, 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.
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.