Marijuana Company of America acquires 20% stake in NPE

|About: Marijuana Company of Ameri... (MCOA)|By:, SA News Editor

Marijuana Company of America (OTCQB:MCOA) has officially acquired a 20% ownership interest in Natural Plant Extract of California (NPE).

Under the terms of the agreement, MCOA will contribute $2M in total cash to the project, as well as common shares with a value of $1M.

In exchange, the Company will own a 20% equity position in NPE. MCOA and NPE have also officially signed a Joint Venture Agreement to establish Viva Buds as a premier cannabis delivery company. Both the companies will share profits equally.

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