PALM BEACH, Florida, November 29, 2017 /PRNewswire/ —
Cash-rich Legal Marijuana, Hemp and Cannabis operations are steamrolling ahead this month with aggressive domestic and international expansion plans as licensed producers heavily invest in latest and innovative infrastructure to support expansion efforts. In a booming market already worth north of $130 million in the U.S. alone according to the Hemp Business journal, major players in the hemp industry are focused on continued growth and expansion as progress is made in legislature, as well as in product development while key leaders are enhancing products and educating new consumer bases. A spokesman for Vote Hemp also estimated there are likely up to 100 hemp cannabidiol brands, as well as hundreds more growers and processors that focus on producing hemp-based CBD. Active Companies from around the market with current developments include: MARIJUANA COMPANY OF AMERICA INC. (OTC: MCOA), Cannabics Pharmaceuticals Inc. (OTC: CNBX), PotNetwork Holding Inc. (OTC: POTN), Cannabis Science, Inc. (OTC: CBIS), Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF)
MARIJUANA COMPANY OF AMERICA INC. (OTC: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that its joint venture partner, Bougainville Ventures, Inc., initiated construction on a 30,000 square foot cultivation facility in Washington state. The delivery of the first pre-designed greenhouses, with full tracking and reporting protocols, is expected to be completed this week for the I-502 facility. The site will eventually consist of 6 greenhouses providing a total of 30,000 sq. ft., of cultivation area. The construction is expected to be completed in February of 2018. Read this and more news for MCOA at http://www.marketnewsupdates.com/news/mcoa.html
This one acre footprint of greenhouse is anticipated to be a technologically advanced and predominantly automated cannabis production facility. The Company also has an option to purchase additional contiguous acreage and so may choose to expand its leasehold in the area. Bougainville Ventures, Inc. anticipates the facility to be capable of producing in excess of 12,000 lbs. of high quality cannabis annually once the cultivation area is fully built out. The location of the new facility provides access to transportation, industrial infrastructure, power, water, gas, and courier services.
Donald Steinberg, CEO of the Company, observed: “We have raised eight hundred thousand dollars and have issued fifteen million shares of the Company’s common stock, per the revised agreement with Bougainville Ventures, Inc. The tenant is in the process of obtaining approval of