CBGL - MCOA Cannabis Global reach deal to open manufacturing laboratory for cannabis concentrates

Marijuana Company of America (MCOA) and Cannabis Global (CBGL) have closed a definitive agreement establishing a new manufacturing and research center for advanced cannabis concentrates, cannabinoid polymeric nanoparticles and nanofibers.The joint venture ((JV)), operating under an entity named, MCOA Lynwood Services, will be managed by Natural Plant Extracts of California ((NPE)) at its Lynwood, California location. Cannabis Global is majority owner of Natural Plant Extracts, holder of a Type 7 cannabis manufacturing permit. Under the terms of JV, MCOA will contribute capital and leases on production equipment to be used. Cannabis Global will own 60% while MCOA will own 40% of the JV. The Companies will each appoint two individuals to the new JV's board of directors. Cannabis Global also plans to continue its R&D programs relating to cannabinoid polymeric nano technologies and to support its patent applications via this newly created JV operations.Previously (May 4): Marijuana company of America outlines

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MCOA, Cannabis Global reach deal to open manufacturing laboratory for cannabis concentrates