Marijuana Company Of America Inc (OTCMKTS:MCOA) participates in research and development of legal hemp-based products under the brand name “hempSMART™”, an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD, and leasing of real property to other businesses engaged in the growth and sale of cannabis in places where it has been legalized and properly regulated for medicinal and recreational use.
The last time we talked about MCOA was quite some time ago, and the company had just reported on its joint venture Bougainville Ventures. Today we wanted to swing back around to that venture coming to fruition, as well as a new joint venture with GLOBAL HEMP GROUP INC (OTCMKTS: GBHPF), a CBD hemp farming project in Scio, Oregon.
Marijuana Company Of America Inc (OTCMKTS:MCOA)’s joint team will be planting clones on the first 35 acres at the Oregon farm. They will be planted “orchard style”, 4 to 5 feet on center, with rows 5 feet apart to provide space for each plant to receive sufficient sunlight, water and nutrients, and mature to maximum size to produce the highest CBD yield possible upon harvest.
The Scio farm will employ both traditional outdoor orchard style cultivation and perpetual harvest in greenhouses. The Partners are currently evaluating additional greenhouse technologies for expansion of indoor cultivation space to augment its perpetual harvest model square footage. This dual strategy will optimize revenue generation throughout the year to minimize the impact of single crop harvesting in October when most other hemp CBD farms harvest and typically drive prices down. (Source: Globe Newswire)
The company doesn’t have all of its eggs in one nasket however, as we were mentioning above, its Washington based Joint Venture with Bougainville Ventures has completed the setup of 10,000 sq. ft. of greenhouse space. The greenhouse is pending the completion of inspection, which is the final step needed before commencing cultivation.
It is the first 10,000 of a 30,000 square foot facility that has been fully erected and readied for inspection this week along with the newly installed security system. The construction crew is currently focused on installing the wiring and mounting panels, plugs and switches, the HVAC system and fans. The Company expects that the final inspection of the security and greenhouse construction will be sometime this week. Once the inspection is approved, the tenant grower will be allowed to occupy the space and begin growing. Once the 30,000 sq. ft. facility is fully built-out, it will have the ability to house approximately 4,000 plants.
Donald Steinberg, MCOA CEO said, “As landlords we are looking forward to providing a turnkey property to the first of hopefully many licensed tenants in Washington. Providing a turnkey facility for tenant growers is an ideal cultivation environment for tenants with minimal start-up capital and consistent rental income for MCOA.” (Source: Globe Newswire)
We feel there is a lot of potential in MCOA both on the current setup of its chart, as well as the marked progress it has been making with its various projects. The company also recently hired help to bring a TV ad campaign to its hempSMART™ line. We’ll keep an eye out for further developments on those, as well as a potential run on the chart. – Just stay locked to Street Register for updates, and we’ll deliver important developments on MCOA as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in MCOA stock, short or long.