Marijuana Company of America Inc. acquires cultivation and distribution companies and expands its presence in California’s growing cannabis market
LOS ANGELES, CA / ACCESSWIRE / October 14, 2021 / Marijuana Company of America, Inc. (OTC PINK: MCOA) (the “Company”), a diversified company with operations and investments across the cannabis industry, announced today that it has completed what it believes to be the most significant acquisition in MCOA history completed the acquisition of VBF Brands, Inc. (“VBF”). VBF is a fully licensed marijuana grower and distributor based in Salinas, California and was previously a wholly owned subsidiary of Sunset Island Group, Inc.
MCOA expects the acquired subsidiary to significantly increase the company’s sales and EBITDA expectations for 2022. This newly acquired wholly owned subsidiary will work immediately to increase production at its current Salinas facility, which will also work with other nearby properties, the MCOA. offers that offers exponential growth potential has an equity option as part of the acquisition.
California remains the world’s largest legal cannabis market, and with this acquisition, which includes cannabis nursery, cannabis manufacture / distribution, and cultivation licenses, MCOA has enormous market potential.
Jesus Quintero, CEO of Marijuana Company of America, Inc., said, “The acquisition of VBF Brands, Inc. perfectly embodies MCOA’s strategy to grow our business organically and acquire the synergistic and often undercapitalized distressed assets that are in the business today Cannabis industries exist to expand. We are confident that we will increase capacity and significantly strengthen our position in the California cannabis market by providing this company with capital and operational depth for what is already impressive operations. “
VBF Brands, Inc. has been a grower and distributor in Salinas, California for the past two years, using its own growing systems to produce desirable cannabis clones that are proprietary certified clean and designed to help growers reduce uncertainty and the likelihood of a successful crop. Cannabis clones have exactly the same genetic potential as their mother plant and, when grown properly, have similar cannabinoid and terpene profiles. When clones are selected from healthy, high quality mother plants, they also inherit their vitality and natural resistance to mold, mildew and pests.
The story goes on
Quintero added, “We are particularly intrigued by this acquisition because VBF has a reputation for high quality clones and makes unique use of its acreage. The company uses a tiered vertical growing system to maximize the square footage of its Salinas, California facility.” Few growers offer the efficiencies of VBF Brands, Inc., which offers greater efficiencies and sustainable growing techniques to provide growers with access to locally grown, high quality clones for growing cannabis flower. Clones are grown and used in an expedient manner sold to other cannabis flower growers who now don’t have to wait six months to grow and sell them. “
Since VBF is focused on the nursery aspect of the cannabis sector, this will help the company generate revenue faster as the clones only take a few weeks to develop and are often pre-sold in bulk to customers. The California market has seen a significant drop in sales of mature cannabis flowers, but an increase in demand and prices for quality clones. As a major player in this specialized niche for cannabis nurseries, MCOA is expected to help generate significant sales growth in 2022 and beyond.
About Marijuana Company of America, Inc.
Marijuana Company of America (OTC PINK: MCOA) invests directly in the cannabis sector. The company’s operations include C-Distro, one of the fastest growing distributors in the THC, hemp and CBD cannabis industries, and hempsmart ™, a premium CBD company. The company’s core mission is to use its experience and access to capital to identify and invest in acquisitions with unique growth potential. The company also owns a cannabis nursery in Salinas, California.
This press release contains “forward-looking statements” that are not purely historical and may contain statements about beliefs, plans, expectations or intentions about the future. Such forward-looking statements include, but are not limited to, the development, costs and results of new business opportunities and words such as “look ahead”, “aim”, “intend”, “believe”, “estimate”, “expect”, “project”, “plan” and the like Expressions may be viewed as “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in the forward-looking statements due to numerous factors. These factors include but are not limited to the uncertainties associated with new projects, the future US and global economies, the effects of competition, and the company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements speak as of the date of this press 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. While we believe that all beliefs, plans, expectations, and intentions contained in this press release are reasonable, no assurance can be given that such beliefs, plans, expectations, or intentions will prove to be correct. Investors should consult all of the information contained herein and also refer to the disclosure of risk factors in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and other periodic reports made from time to time at the. Securities and Exchange Commission are submitted.
For more information, please visit www.marijuanacompanyofamerica.com or visit www.sec.gov.
SOURCE: Marijuana Company of America, Inc.
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