“The growing bipartisan momentum for cannabis reform shows that Congress is primed for progress in 2022, and we are closer than ever to bringing our cannabis policies and laws in line with the American people,” Reps. Earl Blumenauer (D-Ore.) and Barbara Lee (D-Calif.) wrote in a recent memo to the Congressional Cannabis Caucus.
The congressional leaders’ comments were further underscored by Tom Rodgers of cannabis lobby Carlyle Consulting, who added, “We’re going to have a huge debate this year on cannabis, and they want to have that debate before the midterms. … Virtually every committee in the Senate will receive a piece of this.”
Cannabis acquisition and product brand builder Marijuana Company of America has been building its portfolio intently in recent months to dramatically expand its revenues in the legalized cannabis sector, positioning the company to take advantage of the rising swell of pro-cannabis sentiment.
On Dec. 15, MCOA announced the completion of its VBF Brands, Inc. acquisition, adding a marijuana cultivator and distributor based in the heart of the country’s largest legal cannabis market.
“We are especially intrigued with this acquisition because of VBF’s reputation for high-quality clones and its unique use of its growing space,” MCOA CEO Jesus Quintero stated as the transaction was announced. “The company employs a three-tiered growing system, thereby maximizing the square footage of its Salinas, California, facility. Few growers offer the efficiency of VBF Brands, Inc., which provides greater efficiency and sustainable cultivation techniques to provide growers with access to locally grown, high-quality clones to grow cannabis flower.”
The VBF acquisition follows vertical-building efforts by MCOA that include the addition of cannabidiol brands distributor cDistro to the company’s trademarked hempsmart CBD retail operation as well as partnerships and investments with cannabis industry operations such as Cannabis Global Inc. and Natural Plant Extract.
MCOA has also launched subsidiaries hempsmart Brazil and hempsmart Uruguay as part of its continuing forays into the international market, and announced a shift in its business strategy as it expands into the legalized cannabis tetrahydrocannabinol (“THC”) industry.
MCOA’s acquisition of VBF Brands exemplifies its commitment to remain fiscally prudent as the business grows through exposure to the global cannabidiol sector. The acquisition also grants MCOA the option to acquire 51 percent of former VBF owner Sunset Island Group, Inc.’s new cannabis growth facility, which is significantly larger than the clone facility operated by VBF and is expected to have an annual income after the first year of operations of over $30 million, once the licenses for mass cultivation, manufacturing, and distribution are finalized.
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