Marijuana Company of America, Inc. announced the resignation of Donald J. Steinberg as Chairman of the Board, Chief Executive Officer, and Treasurer. The new focus and goal of the Company will be to enter strategic acquisitions with various operational cannabis and hemp companies that are distressed in order to expand the Company's vertical model. Additionally, the Company intends to expand its hempSMART™ branded product lines and marketing channels as well as launch other CBD brands using a direct to consumer sales approach.

Going forward, Mr. Jesus Quintero will serve as the Principal Executive Officer and Chairman of the Board of Directors of the Company along with Board Members Robert Coale and Edward Manolos. Mr. Quintero was already the Chief Financial Officer of the Company.