- The global cannabis market was valued at $22.10 billion and is expected to grow at a CAGR of 13.9% by 2026. The growing trend was reflected by Green Wednesday sales
- MCOA has expanded its interests into Latin America and has strategic partnerships in place, as well as wholly-owned subsidiaries in its portfolio
- Leadership team has set high standards for the company and plans to leverage the strategic partnerships it has accumulated as a means of facilitating growth for the company within the industry
The cannabis industry just celebrated its second-largest holiday of the year – Green Wednesday, the industry’s very own “Black Friday.” According to software company Akerna’s figures, the sale of legal cannabis products during the four-day holiday (November 24-27) is likely to have topped $251 million. The forecast also estimated that sales would equate to a 78% spike from normal daily sales on Green Wednesday, resulting in $90 million worth of legal products being sold (https://cnw.fm/waqEm).
The Green Wednesday sales increase reflects a growing trend of the industry as a whole. The global cannabis market was valued at $22.10 billion in 2020 and is expected to grow at a CAGR of 13.9% during the 2021 to 2026 forecast period. Much like other industries around the world, the marijuana market was significantly impacted by the COVID-19 pandemic. The limitations placed on brick-and-mortar establishments presented many setbacks and forced store owners to seek other methods to sell products, like on social media platforms and e-commerce sites (https://cnw.fm/aGyef).
In the interest of global expansion, Marijuana Company of America (OTC: MCOA) has taken steps to extend the company’s reach into new regions, including Latin America, and to leverage current strategic partnerships with several companies and its wholly-owned subsidiaries to facilitate growth in an industry that continues to expand despite recent setbacks.
Companies that MCOA has partnered with include:
- Cannabis Global Inc. (OTC: CBGL) – CBGL is an up-and-comer in the cannabis industry. It has a growing product and intellectual property portfolio. The company is currently marketing and producing an innovative cannabis storage, transport, and tracking solution called Comply Bag(TM) and is the developer and marketer of the Hemp You Can Feel(TM) brand.
- Eco Innovation Group Inc. (OTC: ECOX) – MCOA’s investment supports ECOX’s cutting-edge and innovative extraction technology. The technology utilizes a proprietary formulation that extracts bioactive compounds from cannabidiol (“CBD”) which is combined with plant-based materials creating a fluid and cost-effective outcome.
- Natural Plant Extract – NPE is a direct investment interest that operates a licensed cannabis manufacturing and distribution business in Lynwood, California. NPE’s Type 7 California manufacturing and distribution license allows for product distribution anywhere in the State of California.
MCOA’s wholly-owned subsidiaries include:
- hempsmart(TM) – A CBD company focused on creating and promoting the most effective and best tasting products with the highest quality on the market. During 2021, the company rebranded and took a fresh take on its packaging – leveraging a social media campaign to entice customers to purchase its premier products, including Smart Drops, Neuro Smart, and Smart Cream.
- cDistro – cDistro is the company’s distribution arm for CBD brands, along with smoke and vape shop-related products, wholesalers, c-stores, specialty retailers, and consumers across North America. cDistro has been selected as one of the first to distribute Marley One.
- VBF Brands Inc. – MCOA’s acquisition of VBF will offer exponential growth potential with other nearby properties, which the company will have the opportunity to work with as a result of the acquisition.
MCOA’s leadership team sets high standards of integrity and professionalism for the company’s employees, officers, and directors. As the company expands into new regions around the world, it intends to utilize its resources and strategic partners’ success to continue diversifying is product and services and provide consistent value to its shareholders while securing a leading position on the legal cannabis and industrial hemp markets.
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CBDW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.