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CBD Maker Hemp Distributor Raises 10 Million For Expansion

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CBD Maker Hemp Distributor Raises 10 Million For Expansion

CBD Maker Hemp Distributor Raises 10 Million For Expansion

Los Angeles-based cannabis holding company Marijuana Company of America (MCOA) raised $10 million via an equity line of credit agreement with White Lion Capital.

The proceeds will be used “to drive growth,” MCOA said in a Tuesday news release.

Specifically, the release noted, the funding will “facilitate MCOA’s strategic plan to expand its business by organic growth and acquisitions of synergistic and often under-capitalized assets.”

“This credit line is expected to afford MCOA to offer a compelling structure that will enable one or more target acquisition companies to go public, thereby accessing capital for both entities.”

MCOA’s products include hemp-derived CBD brand Hempsmart and recently acquired CBD product distributor cDistro.

MCOA shares trade on over-the-counter markets as MCOA.

Source: https://hempindustrydaily.com/cbd-maker-hemp-distributor-raises-10million-for-expansion/

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