Marijuana Company of America Inc. MCOA appointed a former director Marco Guerrero as special advisor to the company's hempSMART South American division.
MCOA's Latin American hempSMART joint venture currently serves medical users in Brazil, who buy hemp-derived CBD hempSMART products by prescription from Brazilian physicians. MCOA intends to expand its consumer base by delivering more of its quality hempSMART product portfolio to Brazil and other Latin American countries.
Guerrero stepped down from MCOA's board of directors on July 1, 2022, to work with the company as a non-executive advisor to its wholly-owned subsidiary Hempsmart Global, Inc., the parent company of MCOA's Latin American hempSMART joint venture. This new position will require him to focus exclusively on penetrating the Brazilian market. Consequently, there was a mutual agreement to have Marco step down as a director of MCOA.
Jesus M. Quintero, CEO, and CFO of MCOA stated, "Our joint venture in Brazil is building a solid base for our sales of hempSMART product line in Brazil and other significant South American markets, and is a major strategic partnership for MCOA. Brazil, with a sales potential of hundreds of millions of consumers, is central to our vision for expansion. While the US CBD market has matured and is saturated with brands, we believe there is an early market entrant advantage for us entering the market with our established hempSMART brand. “
“Marco Guerrero is building out our South American framework and adding him as a special advisor to that MCOA division further aligns our focus on increasing sales in the region. We are focused on the opportunity for significant market penetration in the expanding Brazilian CBD market," continued Quintero.
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