- MCOA is excited to announce the signing of a definitive equity line of credit agreement with White Lion Capital, LLC for $10 million, which will facilitate the restructure of the Company's capital structure and significantly help the Company's cash flow position to expand operations and M&A activity.
- White Lion Capital, LLC invests in high growth early-stage public companies that seek to become industry leaders in trending sectors and become long-term financial partners.
- Jesus Quintero, CEO of MCOA and Roberts Hymers, strategic consultant for MCOA, have successfully negotiated the equity credit line with Sam Yaffa, and Dmitriy Slobodskiy, Principals of White Lion Capital, LLC. Messrs. Hymers, Yaffa and Slobodskiy are California State University, Northridge (CSUN) alumni. CSUN alumni are pioneers in the cannabis space.
- The new Equity Credit Line will facilitate MCOA's Strategic Plan to expand into new markets, add new hempSMART product lines and deploy its new marketing strategies.
- The Equity Credit Line financing will assist MCOA in retiring legacy convertible debt notes with less dilutive equity line financing, which will strengthen the Company's balance sheet significantly.
PR Newswire
ESCONDIDO, Calif., June 24, 2020
