North American Cannabis Holdings, Inc. (OTC Pink: USMJ) up 33% after Reporting 15% Annual Revenue Growth

EmergingGrowth.com Cannabis Company - North American Cannabis Holdings, Inc. (OTC Pink: USMJ) up 33%
EmergingGrowth.com Cannabis Company - North American Cannabis Holdings, Inc. (OTC Pink: USMJ) up 33%

North American Cannabis Holdings, Inc., through its subsidiaries, operates in the legal cannabis market in the United States. It conducts various pilots in the legal cannabis sector in order to explore various high growth potential business opportunities. The company also operates a destination beverage company that enables consumers to interface with staff to learn about the specific benefits of cannabis, and select healthy and refreshing cannabis infused beverages, which include custom blended hemp infused coffee, cold pressed juices, and smoothies. In addition, it offers raw hemp seeds and other hemp infused foods.

Average daily volume for USMJ is 79 million shares. Today’s news has caused the volume to spike over 311 million shares to a intraday high of $0.0004.

North American Cannabis Holdings, Inc.Press Release:

DALLAS, October 15, 2018 /PRNewswire/ —

North American Cannabis Holdings (USMJ) (“USMJ”) today announced the company has filed its annual report for the fiscal year ended June 30th, 2018. The company reported 15% revenue growth with $858,000 in sales compared to $742,000 in sales for the year ended June 30, 2017. Notably, the year-end net income all but reached break-even with the company only reporting a $5,300 loss compared to a reported $334,000 loss for the year ended June 30, 2017.

USMJ has recently announced restructuring plans to leverage the company’s notable brand name in the cannabis sector to launch a comprehensive cannabis focused ecommerce site. Construction is underway, and the ecommerce capability is expected to be on exhibit soon when USMJ pre-launches its ecommerce site to demonstrate its technical functionality selling EVERx CBD Sports Water produced by USMJ’s sister company, Puration, Inc. (PURA).

USMJ has also recently announced a letter of intent (LOI) to spin-off its cannabis restaurant business as part of its overall strategy to focus on the cannabis sector ecommerce business. The LOI is structured to affect a spinoff by selling its cannabis restaurant business to an independently traded public company in a transaction that includes a dividend distribution of shares in the independently traded company to the shareholders of USMJ.

The pending USMJ spinoff transaction is structured similarly to the transaction recently announced by sister company Puration, Inc. with and Nouveau Life Pharmaceuticals, Inc. (NOUV) (“NOUV”). USMJ has yet to disclose the name of target company for the spinoff, but the name is anticipated to be released soon.

The USMJ spinoff transaction LOI details the intended sale of USMJ’s cannabis theme restaurant subsidiary to the yet to be disclosed public company in exchange for a security issued by the target company that will be converted into common shares of the target subsidiary and distributed to the shareholders of USMJ in a stock dividend distribution. The planned dividend distribution ratio is structured for every USMJ shareholder to receive one share of target company stock for every fifty shares they own of USMJ. The dividend distribution plan is not contingent on a recapitalization of either USMJ or the target company. In other words, neither USMJ nor the target company intend to reverse of forward split the stock of the respective company. In further clarification of the planned spinoff transaction, USMJ shareholders keep all the stock they own and are issued new shares in the target company.

Learn more about the company’s overall business strategy and history at http://www.growusmj.com.

Disclaimer/Safe Harbor:

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.

Contact:
Steven Rash
CEO North American Cannabis Holdings, Inc.
info@aciconglomerated.com
+1-800-861-1350


About
 EmergingGrowth.com

EmergingGrowth.com is a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies.  Through its evolution, EmergingGrowth.com found a niche in identifying companies that can be overlooked by the markets due to, among other reasons, trading price or market capitalization.  We look for strong management, innovation, strategy, execution, and the overall potential for long- term growth.  Aside from being a trusted resource for the Emerging Growth info-seekers, we are well known for discovering undervalued companies and bringing them to the attention of the investment community.  Through our parent Company, we also have the ability to facilitate road shows to present your products and services to the most influential investment banks in the space.

All information contained herein as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive. All material is for informational purposes only, is only the opinion of EmergingGrowth.com and should not be construed as an offer or solicitation to buy or sell securities. The information may include certain forward-looking statements, which may be affected by unforeseen circumstances and / or certain risks.  EmergingGrowth.com, or its associates may have a position either long or short in any company mentioned herein. Please read our full disclosure, which can be found here, http://emerginggrowth.com/disclosure/. Please consult an investment professional before investing in anything viewed within this article or any other portion of EmergingGrowth.com. In addition, please make sure you read and understand the Terms of Use, Privacy Policy and the Disclosure posted on the EmergingGrowth.com website.

Add a Comment to this Post

comments