Marijuana Company of America Signs Strategic Collaboration Agreement with Eco Innovation Group Inc.

Rhea-AI Summary

Marijuana Company of America (MCOA) has entered into a share exchange agreement with Eco Innovation Group (ECOX), enhancing its footprint in the cannabis sector. MCOA will exchange $650,000 worth of its common stock for an equivalent stake in ECOX. This collaboration aims to leverage Eco Innovation's advanced CBD extraction technology using non-CO2 solvents, promising to broaden MCOA's product offerings. CEO Jesus M. Quintero emphasized the potential of this partnership to accelerate the development of new hemp-based products for worldwide distribution.

Positive

• Strategic collaboration with Eco Innovation Group enhances market presence.
• Access to innovative CBD extraction technology can improve product offerings.
• Immediate expansion of distribution via MCOA's e-commerce platform.

Negative

• None.

ESCONDIDO, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Marijuana Company of America ("MCOA" or the "Company") (OTC: MCOA), an emerging company and leader offering unique exposure to the global cannabis sector, announces it has signed a share exchange agreement with Eco Innovation Group Inc. (OTC: ECOX), creating a strategic collaboration that expands the Company’s global cannabis offering.

Eco Innovation is an aggregator of investments in new technologies that promote environmental and social well-being as well as the advancement of green energy solutions. MCOA’s investment in ECO Innovation centers on the company’s application for cannabidiol (CBD) and licensed marijuana extraction that utilizes a non-CO2 solvent to extract valuable bioactive compounds from plant-based materials to create a fluid output.

“This collaboration has the potential to advance MCOA’s leadership in the cannabis sector and provide innumerable opportunities to expand our business,” stated Jesus M. Quintero, CEO of MCOA. “We will first use the MCOA e-commerce platform to distribute and market Eco Innovation’s cutting-edge extraction platform, immediately expanding our offerings and market reach. Through this agreement, both companies are positioned to quickly identify and accelerate the development of new varieties of hemp-based products and to then distribute them worldwide.”

Per the agreement, MCOA issued to Eco Innovation $650,000 in MCOA common stock in exchange for $650,000 in Eco Innovation Group common stock.

For more information on the share exchange agreement, see the 8-K filing made with the Securities and Exchange Commission at:

https://www.sec.gov/Archives/edgar/data/1078799/000107997321000131/mcoa_8k-030221.htm

About Marijuana Company of America Inc.
Marijuana Company of America (OTC: MCOA) is an emerging company and leader offering unique exposure to the global cannabis sector. The Company recently transitioned from research & development to a revenue-producing cannabis marketing company focused on sales & marketing of the Company’s line of proprietary botanical legal hemp-based CBD (cannabidiol) “hempSMART™” products.

About hempSMART

hempSMART™ offers an extensive full line of premium CBD organic products that are scientifically driven and double lab tested to ensure purity and potency. The Company will direct the sale of its products to wholesalers, distributors, the medical community, online e-commerce consumer platforms, and a proven network affiliate marketing program. The Company has also launched international sales, production, and marketing expansion.

About hempSMART Products Containing CBD
The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA's jurisdiction.
For more information, please visit:
www.MarijuanaCompanyofAmerica.com/
www.hempsmart.com

About Eco Innovation Group

Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders. At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are. For more information, visit www.ecoig.com.

MCOA Contact:
Tel: 888-777-4362
Email: info@mcoainvestments.com

SmallCapVoice.com Contact:
Stuart T. Smith
512-267-2430
Info@SmallCapVoice.com

Source:

Marijuana Company of America, Inc.

FAQ

What is the significance of MCOA's share exchange agreement with Eco Innovation Group?

The agreement allows MCOA to expand its product offerings in the cannabis sector through access to Eco Innovation's advanced CBD extraction technology.

How much stock did MCOA exchange with Eco Innovation Group?

MCOA issued $650,000 worth of its common stock in exchange for $650,000 in Eco Innovation Group common stock.

What will MCOA use to market Eco Innovation’s extraction technology?

MCOA plans to utilize its e-commerce platform to distribute Eco Innovation's cutting-edge extraction technology.

What potential benefits arise from MCOA's collaboration with Eco Innovation?

The collaboration is expected to enhance MCOA's leadership in the cannabis sector and facilitate the quick development and distribution of new hemp-based products.

What is MCOA's focus as a company?

MCOA focuses on sales and marketing of its line of proprietary botanical legal hemp-based CBD products under the brand hempSMART.