DALLAS, June 15, 2017 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USOTC: USMJ) today announced plans to add U$MJ Cryptocurrency to its ongoing Cannabis Point of Sale (POS) pilot project. USMJ and Alternet Systems, Inc. (USOTC: ALYI) recently announced the pending acquisition of ALYI's POS technology as the latest development in the two companies joint Cannabis POS pilot project. In a related transaction, the outgoing CEO of ALYI, Henryk Dabrowski is heading to Ciao Group, Inc. (USOTC: CIAU) to lead Ciao's new Cryptographic Enterprise Division. USMJ anticipates Ciao's new Cryptographic Enterprise Division to play a key role in the development of U$MJ Cryptocurrency.
ALYI's Point of Sale Technology Exit To USMJ and ALYI's New Lithium Direction
The acquisition of ALYI's technology by USMJ is a shift in the originally planned transaction between the two Companies where USMJ planned to maintain the POS technology within ALYI and orchestrate an equity swap between the two Companies. ALYI has Alternatively entered into an agreement to go a different direction acquiring a private Lithium Intellectual Property Company (ALYI plans to make a detailed announcement on their new direction next week) while exiting its financial services business in the deal with USMJ.
Learn More About USMJ: 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.
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SOURCE North American Cannabis Holdings, Inc.