Marijuana Company of America and Global Hemp Group Provide Update on New Brunswick Hemp Project
June 21 2018 - 8:00AM
via NetworkWire –
MARIJUANA COMPANY OF AMERICA
INC. (“
MCOA” or the
“
Company”) (OTC:MCOA), an innovative hemp and
cannabis corporation, is pleased to provide an update on its New
Brunswick Hemp Project with joint venture partner, Global Hemp
Group Inc. (CSE:GHG) (OTC:GBHPF) (FRANKFURT:GHG) (the “Partners”).
The joint venture recently completed the planting of 125 acres
of industrial hemp at the New Brunswick Hemp Project location, in
the northeast portion of the province of New Brunswick, Canada.
The Partners are also pleased to announce that an initial
collaborative framework with the New Brunswick Department of
Aquaculture, Agriculture and Fisheries (DAAF). The DAAF awarded a
grant of $10,750 to the joint venture to support demonstration
projects it will undertake during the current cropping season in
New Brunswick. This grant will be directed to three areas of
collaboration.
The first area of collaboration will be to study the impact of
the European Corn Borer (ECB) on the hemp plant. From the
cultivation trial last year, some hemp stalk damage was noted from
the ECB. This study will determine if the ECB causes economically
significant damage to the crop and will explore control options
with further cooperative efforts. Results from this study could
potentially benefit the entire emerging industrial hemp industry in
New Brunswick;
In the second area of collaboration, the DAAF grant will be used
to explore correcting soil acidity utilizing slag lime, an abundant
resource in the region, and to subsidize the use of modern drone
technology to monitor field conditions at the farms; and,
The third area of collaboration involves DAAF Nitrogen Fertility
Project on a portion of one of the farms. The rates of Nitrogen
fertilizer applied to hemp is being tested as a local follow up to
research conducted at McGill University.
The Partners look forward to more collaborative efforts with the
DAAF in the future. Information gained from these various
initiatives will improve the management of the crop and benefit all
hemp farmers in the region.
Hemp varieties chosen this year typically grow
taller than six feet, and when planted at field crop densities, the
height of the crop makes it virtually impossible to scout the
entire field on foot and make visual observations of weak spots in
the field greater than ten feet from the point of inspection.
Because of this, Hawkeye Drone Services
(http://hawkeyedroneservices.ca) has been engaged to fly over the
hemp farms with drones equipped with multispectral cameras. This
will provide a holistic view of a crop’s growth, identify issues
and better target field scouting. The data collected will also
provide soil moisture, temperature, and utilizing specialized
software which doesn’t require years of background crop evaluations
to determine physically stressed or unhealthy areas. Once stressed
or unhealthy sections have been identified, a field scouting plan
will be designed to pinpoint random representative observation
spots. At these locations, soil moisture, pH, and weed pressure
will all be measured. Hemp emergence and population will also be
counted in these areas. These metrics will be utilized in
evaluating possible differences in the growing conditions in the
event that the CBD content differs in areas of stressed and healthy
plants.
The Partners are also pleased to report that in preparation for
the pending changes to the legal framework regarding the ability of
farmers to process hemp biomass for the extraction of cannabinoids,
the Partners have purchased a high capacity hemp dryer for the
project. The dryer is expected to be delivered to the New Brunswick
facility in early August.
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™”, 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.
About Global Hemp Group Inc.Global Hemp Group
Inc. (CSE:GHG) (OTC:GBHPF) (FRANKFURT:GHG), is headquartered in
Vancouver, British Columbia, Canada, with base operations in
Montreal and Los Angeles. The Company is focused on a multi-phased
strategy to build a strong presence in the industrial hemp industry
in both Canada and the United States. The first phase of this
strategy is to develop hemp cultivation with the objective of
extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a
near term revenue stream that will allow the Company to expand and
develop successive phases of the strategy. The second phase of the
plan will focus on the development of value-added industrial hemp
products utilizing the processing of the whole hemp plant, as
envisioned in the Company’s Hemp Agro-Industrial Zone (HAIZ)
strategy.
Forward Looking StatementsThis 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-K, 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.
For more information, please visit the Company’s websites
at:
MarijuanaCompanyofAmerica.comhempSMART.comNetworkNewsWires/MCOA
Corporate Communications Contact:
NetworkNewsWire (NNW) New York, New York www.NetworkNewsWire.com
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