Marijuana Company of America, Inc. announced that it has received $2.880982 million in funding from St. George Investments, LLC
October 05, 2021
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Marijuana Company of America, Inc. announced that it has entered into Securities Purchase Agreement to issue an unsecured convertible promissory note for the gross proceeds of $2,870,982 on October 6, 2021. The transaction included participation from returning investor St. George Investments, LLC. The note will be issued at an original discount price of $574,196. The note will be convertible into shares of common stock, $0.001 par value per share, of company. The company paid $10,000 to cover Investor’s legal fees, accounting costs, due diligence, monitoring and other transaction costs incurred in connection. The note bear interest rate of 8% per annum.
Marijuana Company of America, Inc. is an owner and operator of licensed cannabis cultivation, processing, and dispensary facilities. The Company is a developer, producer, and distributor of branded cannabis and cannabidiol (CBD) products in the United States. Through its wholly owned subsidiary cDistro, Inc., it offers CBD brands along with smoke and vape shop-related products to wholesalers, c-stores, specialty retailers, and consumers in North America. Through its wholly owned subsidiary HSmart, Inc., it develops and sells CBD products under the brand name hempSMART. Its hempSMART wellness products offerings include hempSMART Brain, hempSMART Pain, hempSMART Pain Cream, hempSMART Drops, hempSMART Pet Drops, hempSMART Face, and hempSMART Drink Mix. hempSMART Brain is a personal care consumer product encapsulated with enriched non-psychoactive industrial hemp derived CBD. hempSMART Pain Cream each container is formulated with 300mg of non-psychoactive CBD.
MARIJUANA COMPANY OF AMERICA, INC. 
