Marijuana Company of America Partners With HoneyB Healthy Living to Launch the BeniHemp Brand
ESCONDIDO, CA--(Marketwired - Nov 30, 2017) - MARIJUANA COMPANY OF AMERICA, INC. ("MCOA" or the "Company") (OTC: MCOA), an innovative hemp and cannabis company, is pleased to announce that it has partnered with the founders of HoneyB Healthy Living to develop Convenient Hemp Mart, LLC's "BeniHemp" branded products targeting convenience stores for CBD product distribution. MCOA has invested $100,000 into the start-up project for a 25% equity stake.
BeniHemp products include topicals, tinctures and edibles conveniently packaged in 1-day, 2-day and 30-day supplies. The target markets are convenience stores, smoke shops, gas stations and similar types of small retail businesses where CBD commerce has significant potential to generate sales from the impulse buyer at the register.
Convenient Hemp Mart is in the process of developing unique sample sized packaging for consumers to try its BeniHemp products. When customers have a positive experience with BeniHemp sample products, they will then be able to purchase a monthly supply and sign up for auto ship online. Store owners will continue to generate additional revenue without the burden of managing inventory and shelf space.
MCOA Chief Executive Officer Donald Steinberg observed: "The BeniHemp model is attractive to convenience store operators, who understand the value of selling sample sized packages of CBD products that will ultimately generate online sales for monthly orders where they can generate revenues from sales they never see or have to manage. We believe this is an attractive model for small retail business owners looking for every opportunity to tap into the rapidly emerging CBD market to generate additional revenue. We have high expectations for what the experienced HoneyB team can accomplish."
HoneyB Healthy Living and Convenient Hemp Mart are working with MCOA and Space Cowboys, Inc. in Loveland and Longmont Colorado to establish a secure and consistent supply of quality cannabinoids to fulfill demand for current and future product development and distribution.
The expectation is that BeniHemp will soft launch in December 2017 with the full launch in January 2018. The BeniHemp website is in development and will be launched in January as well. Benihemp products have already been manufactured and are pending shipment once the package designs, including counter top displays, floor displays and related marketing materials are complete.
Frank Phillips, Convenient Hemp Mart's Chief Executive Officer, commented: "We are extremely excited to come to market with the very highest quality products designed specifically for curious first-time cannabinoid users. The CBD market is experiencing exponential growth and we intend to capture market share in one of the highest trafficked marketplaces, convenience stores. Because of the expertise of Space Cowboys in producing some of the highest quality hemp oil on the market, and the proven manufacturing and formulation abilities of our Honey B Healthy Living team, we believe that our introductory products coming to convenience store shelves will generate considerable traffic to our online portals for monthly order placements creating an absolute win for the stores carrying our products."
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 "hempSMART™", 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.
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