US (CA): Production permit for Marijuana Company of America
The terms of the agreement include that MCOA will invest cash and stock in a newly formed entity, and receive a 50% equity and share in the net profits produced in the joint venture in Adelanto, California, where GCR owns a permit for cultivation.
A three-person board of managing members will oversee operations of the newly formed entity. GCR will contribute its expertise in marijuana cultivation, as well as establish partnerships and licensing agreements that will enable the legal cultivation of marijuana in the State of California.
Donald Steinberg, MCOA President and CEO commented, "We are excited to work with the GateC Research Inc. team, and we look forward to strengthening our supply chain pipeline in California. We have some very exciting marketing ideas to implement as regulations allow."
“Our partners have managed many successful and legally compliant cultivation projects in California and we are looking forward to expanding our operations with MCOA’s assistance into Adelanto County and starting a cultivation model that we intend to successfully replicate with MCOA,” said Adam Agathakis, an Officer of GateC Research Inc.
This joint venture project is solely for the purpose of cultivation, processing and distribution of legal marijuana within the State of California only and not beyond its borders.
For more information:
Marijuana Company of America
5256 S. Mission Road, #703-314
Bonsall, CA 92003
888-777-4362
ir@mcoa.club
www.marijuanacompanyofamerica.com