© Provided by BenzingaMarijuana Company of America, Inc. (OTC Pink: MCOA) has acquired distribution company cDistro, Inc. in a stock-for-stock transaction
cDistro shareholder will hold approximately 5.23% of the issued and outstanding common stock of MCOA. Additional shares may be granted over the next year if cDitro hits certain revenue targets.
At current valuations, cDitro shareholders received approximately $753,000 in MCOA stock. Interestingly, cDistro generates gross revenues of $150,000 per month, boasting good margins, so the price tag was quite favorable for MCOA.
“cDistro is uniquely positioned to take advantage of the developing market opportunity generated by consumers’ growing demand for quality hemp products. This acquisition is significant for MCOA, as it further positions us to take advantage of immediate revenue and a healthy opportunity to seize significant market share in the specialty distribution space” Jesus M. Quintero, CEO of MCOA, told Benzinga.
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