Marijuana Company of America, Inc. (OTCPK:MCOA) entered into an agreement to acquire 18.185124% interest in Cannabis Global, Inc. (OTCPK:CBGL) for $0.65 million on September 30, 2020. As per the terms, consideration will be paid in the form of issue of 650,000,00 shares of Marijuana in exchange for 7,222,222 shares of Cannabis Global common stock. Marijuana Company of America and Cannabis Global also entered into a lock-up leak-out agreement which prevents either party from selling the exchanged shares for a period of 12 months from September 30, 2020.

Thereafter the parties may sell not more than the quantity of shares equaling an aggregate maximum sale value of $20,000 per week, or $80,000 per month until all exchange shares are sold. Edward Manolos, Marijuana Company of America's Director, is also a Director of Cannabis Global.