DALLAS, June 7, 2017 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USOTC: USMJ) today announced that American Cannabis Innovations Conglomerated (ACI) has completed the acquisition of a controlling interest in USMJ. ACI is a private equity backed rollup founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations. USMJ is one of 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 accelerate the growth of acquired assets and improve the operating efficiency of acquired assets by improving access to investment, streamlining redundant functions and leveraging complimentary functions.
Annual Revenue Target Revision Upward and New Cannabis Social Media Site
USMJ has revised its on-demand, online business plan presentation on the Company's website with updates to the Company's plan to achieve $2 million in annual revenue from its AmeriCanna Cafe operation. The revised plan anticipates an increase in annual revenue with the addition of AmeriCanna Cafe food and beverage products to be sold independently from the restaurant operations. The Company is currently in discussions with potential suppliers and distributors of the identified food and beverage products. The plan also outlines the Company's coming Cannabis Social Media Site where cannabis entrepreneurs will be able to interact with potential investors, and where USMJ will from time to time make its own investments in entrepreneurial cannabis ventures toward a future independent listing and dividend of stock in the independent listing to USMJ shareholders.
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 has already announced a substantial convertible debt elimination in conjunction with the pending ACI transaction.
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.