DALLAS, Texas, October 18, 2016 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) Today Announced filing its 2016 Annual report for the year ended June 30, 2016. The Company realized twenty-three percent annual revenue growth reporting $515,475 in sales. The Company also reduced balance sheet reported liabilities by more than forty-five percent eliminating over $2 million in debt.
North American Cannabis Holdings entered the cannabis sector in 2013 piloting a successive series of entrepreneurial cannabis enterprises from hemp farming in Vermont, to growing medical marijuana in Maine, to extracting cannabinoids from hemp and marijuana, to infusing cannabinoids into consumer food and beverage products - to name only a few. A handful of pilot projects have shown promise and a select few have advanced toward commercialization. After three years of evolving and maturing its business model and less than a month before legalized marijuana proposals hit the ballot in eight more states (5 recreational and 3 medical), the market is starting to take note of North American Cannabis Holdings long-term promise.
North American Cannabis Holdings is commercializing one pilot project graduate in-house with a second graduate being commercialized in a spinoff. The in-house graduate commercialization effort consists of a cannabis themed restaurant chain that accounts for the current reported revenue. The spinoff commercialization effort consists of a proprietary extraction process with extracts to be infused into consumer food and beverages. The extraction operation is housed in the independently quoted public company Puration, Inc. (PURA). A dividend issuance of Puration common stock is planned for North American Cannabis Holding's shareholders with a dividend date of record scheduled this Friday, October 21, 2016.
In addition to the inherent ROI potential of receiving the dividend, management of both USMJ and PURA believe the dividend issuance can set a new business model standard within the micro-cap public cannabis company sector with USMJ and PURA as clear sector leaders.
More details on the two commercialization efforts is available on the USMJ and PURA websites:
A CEO On Demand Update is planned to be released on the North American Cannabis Holdings website today, Tuesday, October 18, 2016 at 12 Noon EST. The CEO update will highlight what management considers key aspects of the annual report and provide further insight into the North American Cannabis Holdings business model. To highlight the business model, the presentation will feature the history of the cannabis extraction pilot all the way to its current embodiment in Puration, Inc. (PURA) today, and how Puration is a model for the future of North American Cannabis Holdings with future PURA-like spinoffs and dividends to come.
To learn more about Puration: http://www.purationinc.com
Follow Puration on Twitter: https://twitter.com/Puration710
Visit Puration on Facebook: https://www.facebook.com/puration/
To learn more about North American Cannabis Holdings: 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, amongst 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. and Puration, Inc.