Marijuana Company of America Inc. (OTCMKTS: MCOA) Competes cDistro Acquisition

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Marijuana Company of America Inc. (OTCMKTS: MCOA) has completed a stock-for-stock acquisition of cDistro Inc. cDistro is a fast-growing distribution company in the hemp industry that will deepen Marijuana Company of America distribution footprint in North America.

MCOA acquires cDistro

Marijuana Company of America Inc. (OTCMKTS: MCOA) will operate cDistro as its wholly-owned subsidiary. The former shareholders of cDistro will hold 5.23% of outstanding and issued stock of MCOA and will gain additional stock in the next year if cDistro meets specific revenue targets. The acquisition is an arm’s length deal completed subject to meeting certain conditions that include execution of definitive agreement and completion of due diligence. 

cDistro CEO Ron Russo said, “This acquisition is highly synergistic and intended to amplify cDistro’s national distribution. We believe that with MCOA’s operational support, cDistro has the opportunity to become a dominant distributor of products infused with CBD and hemp in the North American market. In its relatively short period of incubation, cDistro has built strong and actionable relationships with quality wholesalers, retailers, and dispensaries, and the cDistro team looks forward expanding our business exponentially with the backing of MCOA and our mutual goal of bringing innovative hemp products to consumers.”

cDistro signs agreement with Silo Wellness 

cDistro recently signed an agreement with Silo Wellness Inc. to distribute Marley One, a functional mushroom brand. Silo Wellness is a top psychedelics company. It chose cDistro as the first distributor to launch Marley One. the initial product offering will include functional mushroom tinctures such as cordyceps, Chaga, reishi, turkey tail, and lions mane species.

Russo said, “We believe it is important to be a leader in providing access to newer product categories, and we are honored to distribute and provide access to Marley One, the first global functional mushroom brand, in collaboration with the Bob Marley Family.”

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