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Marijuana Company of America, Global Hemp Group plan JV with Space Cowboys

Marijuana Company of America Inc. and Global Hemp Group Inc. signed a letter of intent to form a joint venture with Space Cowboys Inc.

The two companies will invest $2.5 million in exchange for a 25% equity interest in Space Cowboys.

The investment will be used to expand Space Cowboys' cultivation operation.

Space Cowboys is a hemp-derived cannabinoid producer in Colorado.