DALLAS, March 15, 2016 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) today announced the re-launch of Hempster Clothing.
The mission of North American Cannabis Holdings' subsidiary, the American Seed & Oil Company is to create a variety of market competitive, environmental conscious, consumer and commercial products utilizing various forms of cannabis. A clothing line was conceived as part of American Seed & Oil Company's original business plan. Hemp requires half the water and half the land required by cotton to produce equal quantities of fiber for clothing production. While cotton accounts for a major portion of agricultural pesticides, hemp requires no pesticides at all.
Last year on April 20th, 2015, the Company introduced four t-shirts bearing various designs specific to the Hempster Clothing line brand . Response was exceptionally enthusiastic and the initial inventory sold out fast. The Company ran into issues with ongoing sales when the credit card processing vender refused to process any further orders of a 'cannabis-related-business.' The resulting cash flow issues caused down-stream production problems and management decided to back-up, survey the situation, make new plans and then move forward. The Company is now excited to announce Hempster Clothing sales will re-launch on 4-20-2016.
Look for more information coming soon for the re-launch of Hemspter Clothing.
The re-launch comes in conjunction with the first shipment of the Company's EVERx sports and fitness nutritional supplement line. The Company's new EVERx product line is expected to hit shelves before the end of March . Online sales through a major online retailer portal is anticipated to follow the introduction of brick and mortar retail sales. The Company is planning for a Hempster and EVERx co-marketing campaign.
North American Introduced the EVERx sports and fitness nutritional supplement line last month in conjunction with the 50th Super Bowl. A number of current and former NFL players are now advocates for medical marijuana in the treatment of head injuries and pain management. North American is in discussions with a Texas based, certified NFL agent exploring potential sponsorship opportunities and in fact, conducted a key meeting yesterday toward that end.
A recently published 127-page report on the overall growing sports and fitness nutrition market estimates current sector annual revenues of $64.17 billion.
EVERx sales are anticipated to add to the Company's exceptional first calendar quarter results. For the period ending December 31, 2016, the Company reported $137,000 in revenue ($550,000 in annualized revenue), a 47% increase over the previous quarter. Gross profit increased 39% quarter to quarter totaling $71,000. Overall income from operations improved 47% quarter to quarter with the Company substantially reducing its burn rate.
About North American Cannabis Holdings, Inc.
North American Cannabis Holdings, Inc. (USMJ) is founded on the core belief that cannabis makes people's lives better. Cannabis can fight disease, improve wellness and do so in an environmentally sustainable manner. North American Cannabis Holdings is dedicated to finding the best possible applications for cannabis to serve consumers. For more information please visit http://www.growusmj.com.
Follow the company on Twitter: https://twitter.com/US_HEMP.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, among other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
SOURCE North American Cannabis Holdings, Inc.