LOS ANGELES, CA / ACCESSWIRE / January 7, 2021 / Cannabis Global, Inc. (OTC PINK:CBGL), an innovation-oriented company investing in disruptive cannabis and hemp-related technologies and Marijuana Company of America (OTC PINK:MCOA), each of which is the largest shareholder of the other, today discuss planned strategies to target the coming national market for cannabis, as the Democratic Party is set to take control of the U.S. Senate, thus controlling the legislative agenda for the foreseeable future. Both Companies believe there will be congressional action to lift prohibitions on cannabis, creating a new national market for cannabis and cannabis products.
Arman Tabatabaei and Jesus Quintero, CEOs of CBGL and MCOA, respectively, jointly commented, "With the Democratic Party controlling the executive and legislative branches, the prospects for ultimate passage of the MORE Act, which will remove cannabis from the list of federally controlled substances, are excellent and we predicted this to occur later this year. Thus, both companies are positioning to address what we believe will be a robust national market and increased internalization of the robust American cannabis marketplace. It is clearly an exciting time for Cannabis Global, Marijuana Company of America, and our growing collaborations."
Cannabis Global plans to address to national cannabis market via its Comply Bag™ Cannabis Transport system, its patent-pending infusion technologies, and expanded investments into new business operations, such as Natural Plant Extract (NPE), which operates a licensed cannabis manufacturing and distribution and Whisper Weed, Inc., cannabis delivery service, in which Cannabis Global provides contracts management services.
Mr. Tabatabaei continued, "We have assembled a robust set of assets and investments in order to specifically target what we believe will soon be a true national cannabis market. Comply Bag™ is targeted at intra and interstate cannabis transport, NPE at manufacturing and distribution, our growing IP portfolio at cannabis-related ingredients for manufacturers, while Whisper Weed performs local delivery services. We believe we are very well positioned with this developing portfolio of technologies and investments, but plan even more expansion over the coming months. We are certainly looking forward to addressing this coming national cannabis marketplace."
Mr. Quintero commented, "Our new joint ventures with MR Hemp Uruguay and MR Hemp Brazil provide us with new distribution opportunities that will bolster global expansion and we expect U.S. legalization to allow us to accelerate this and other international business opportunities, which are well underway. With the Democrats in control of the U.S. legislative agenda, we see many of the hurdles we must navigate in both the U.S. and into the U.S. export markets to be significantly easier to navigate. We have recently stated that continuing to penetrate and expand our reach in South America and Europe is our primary goal in 2021. U.S. de-scheduling will meaningfully accelerate this process and allow our expansion into even more international markets."
About Cannabis Global, Inc.
Cannabis Global, Inc., formerly known as MCTC Holdings, Inc., is a fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The Company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The Company does not engage in the production, distribution, or sales of any controlled substances, including marijuana. The Company has an actively growing portfolio of intellectual property having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The Company markets its consumer products under the Hemp You Can Feel™ brand name. Cannabis Global launched its Project Varin early in 2020, to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (THV-C) and to develop products based on this cannabinoid.
About Marijuana Company of America, Inc.
MCOA is an emerging industry leader with focus in product development and sales & marketing with its proprietary botanical ingredients legal hemp-based cannabidiol ("CBD") quality products under the brand name "hempSMART™". The Company's premium quality products are double lab tested for purity and potency and sold to wholesalers, distributors, via online e commerce consumer platform, and a proven network affiliate marketing program. The Company recently announced plans for international sales, production, and marketing expansion.
For more information, please visit: https://www.marijuanacompanyofamerica.com/
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-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
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SOURCE: Cannabis Global, Inc.