Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced the resignation of Donald J. Steinberg as chairman of the board, chief executive officer and treasurer. According to the update, the Company’s new focus will be to enter strategic acquisitions with various operational cannabis and hemp companies that are distressed in order to expand its vertical model, as well as expand its hempSMART(TM) branded product lines and marketing channels and launch other CBD brands using a direct-to-consumer sales approach. “It has been an honor to lead the Company these past four years and to serve the customers, stakeholders, and staff who have been part of the foundation of the Company,” Steinberg, one of MCOA’s founders, said in the news release. “I am proud of what we have accomplished as a team thus far and know that the Company will continue to grow its presence in the cannabis industry. Also, I am positive that the Company will create additional innovative ideas and pioneering technologies for its customers and stakeholders worldwide and make the right corporate maneuvers and strategic acquisitions to establish meaningful scale in the industry. As many of you know, one of my passions is the development of start-up ventures. I believe in the future of the cannabis marketplace and greatly desire to be a part of advancing the innumerable opportunities that are yet to be discovered. For this reason, I have decided to step down as CEO to allow the Company to pursue new groundbreaking opportunities under new leadership.”
To view the full press release, visit http://cnw.fm/Z6Xp3
About Marijuana Company of America, Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART(TM)” 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) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. 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
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