US (CA): Company raises $10M to drive growth

Marijuana Company of America has raised $10 million, which will be used to drive growth.

"We believe that the new Equity Credit Line will facilitate our Strategic Plan to expand its business by organic growth and acquisitions of synergistic and often undercapitalized 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."

"This financing relationship with White Lion not only provides a valuable partner for our business strategy but also provides us with strong capital backing to continue to execute on our growth of operations and seize the numerous acquisition opportunities existing today in the Cannabis industry," said Jesus Quintero, CEO of Marijuana Company of America, Inc. "Having reliable capital backing in this environment through White Lion Capital, LLC builds on our growth momentum that is starting to occur at MCOA."