DALLAS, June 1, 2017 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USOTC: USMJ) today announced an online, on-demand presentation to be available on the Company's website next Tuesday, June 6th. The purpose of the presentation is to present updates to the Company's business plan and plan to build $2 million in annual revenue. The updates stem from the impending acquisition of the controlling interest in USMJ by American Cannabis Innovations Conglomerated ("ACI"). The acquisition is anticipated to be finalized prior to the update presentation. The presentation will include additional details on the preliminary updates to USMJ's cannabis point of sale system transaction with Alternet Sytems (USOTC: ALYI) announced yesterday. The presentation will also include updates to USMJ's ongoing business relationship with Puration, Inc. (USOTC: PURA).
USMJ Market Capitalization Improvements Summary - No Reverse or Forward Split
The common stock of USMJ will remain traded on the OTC Markets with no forward or reverse split taking place in conjunction with the ACI transaction. ACI expects the potential for market capitalizations of USMJ to improve by transitioning the Company toward better investment structures, with better terms, that are altogether better suited to the current and more mature stage of development. For instance, USMJ recently announced a substantial convertible debt elimination in conjunction with the pending ACI transaction.
ACI Business Plan
ACI is a private equity backed rollup founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations. USMJ and PURA are the first of five acquisitions in the cannabis sector ACI has planned for the near future. ACI is seeking to acquire early stage, undervalued businesses with intellectual properties validated by market tests, and commercial or consumer sales. ACI expects to improve the operating efficiency of acquired assets by streaming redundant functions and leveraging complimentary functions.
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.