CORAL SPRINGS, Florida, July 14, 2015 /PRNewswire/ --
As more and more states move to legalizing cannabis & marijuana and while other states are now allowing medicinal use of the drug, venture capital & money has poured into companies that seem poised to profit from cannabis-based products, drugs & applications used for treating various illnesses and diseases. Cannabis Operations Companies worth noting are North American Cannabis Holdings, Inc. (OTC: USMJ), Totally Hemp Crazy, Inc. (OTC: THCZ), Hemp, Inc. (OTC: HEMP), Medbox, Inc. (OTC: MDBX) and PharmaCyte Biotech (OTC: PMCB).
North American Cannabis Holdings, Inc. (OTC: USMJ) today announced a letter of intent (LOI) agreement intended to result in a spin-off the Company's healthcare operations and a dividend to be issued to shareholders. "The Company launched a cannabis consumer product development operation in 2013," explained CEO Steven Rash. "After two years of pilot projects, the Company announced a corporate name change one month ago in advance of announcing a series of mainstream cannabis consumer product launches. The announcement today follows the recent launch of a mainstream cannabis infused beverage line augmented by the acquisition of an existing ten year old beverage business. Today's letter of intent is the first step in the launch of mainstream cannabis healthcare business to be built within a standalone public company. North American Cannabis Holding's intends to exchange its cannabis consumer healthcare operations for stock in a separate public company. A portion of the stock in the separate public company will be issued to the shareholders of North American Cannabis Holdings in a dividend distribution. The corporate name change, the beverage business launch and corresponding acquisition, and today's healthcare spin-off and dividend are just the beginning of an overall major initiative North American Cannabis Holdings is advancing within the new emerging legal cannabis market."
Read the full USMJ Press Release at: http://www.financialnewsmedia.com/profiles/usmj.html
The Company will feature the cannabis consumer healthcare products to be included in the spin-off in a series of coming press releases and website posts. One product, for example, to be included is the EpiVape, a unique CBD disposable vaporizer developed by World Hemp Oil and part of an ongoing pilot project with North American Cannabis Holdings. The letter of intent has been executed with Puration, Inc., a standalone public company. Puration will acquire North American Cannabis Holdings healthcare operations for stock, a portion of which is to be issued in a dividend distribution to North American Cannabis Holdings shareholders. Puration is expected to be renamed and reorganized. The Puration management team will include co-managers from North American Cannabis Holding's management team.
Other Recent Cannabis/Marijuana/Hemp developments: Totally Hemp Crazy, Inc. (OTC: THCZ) announced last week that Dion Lion SaumaBaan Distributors (P) Ltd. of Tamil Nadu, India has been signed as the Authorized Distributor of Rocky Mountain High Hemp Infused Energy and Beverage drinks for the countries of India, Sri Lanka, Bangladesh, Nepal, Myanmar and Pakistan. In preparation of the first product order shipment, samples have been delivered to an Authorized Government Lab facility in India and where an application will be filed with the Food Safety and Standards Authority of India (FSSAI) for approval.
Hemp, Inc. (OTC: HEMP) officials excited that North Carolina's CBD/Hemp Oil bill has passed the Senate with a unanimous vote (47-0), putting the state of North Carolina one step closer to hemp legalization. On Wednesday, July 1, 2015, the rather "cumbersome" bill was streamlined by the Senate committee stating any "board-certified neurologist could prescribe CBD oils (hemp oils) to any aged patient with intractable epilepsy, and that each patient" would simply go into a database instead of being put on a registry that would have required patients being issued a card, associating them with the registry. The registry, according to the Senate, would incur an unnecessary cost.
Insys Therapeutics, Inc. (NASDAQ : INSY ) announced last month it has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for its proprietary Dronabinol Oral Solution for anorexia associated with weight loss in patients with AIDS; and nausea and vomiting associated with cancer chemotherapy in patients who have failed to respond adequately to conventional antiemetic treatments. Dronabinol Oral Solution is an orally administered liquid formulation of the pharmaceutical cannabinoid dronabinol, a synthetic version of tetrahydrocannabinol (THC).
Active Cannabis/Marijuana Companies Trading Activity for Monday: Medbox, Inc. (OTCQB: MDBX) closed up slightly on Monday with over 2.8Million shares traded by the market close. MDBX provides specialized consulting services to the marijuana industry and sells associated patented products, including its Medbox medical dispensing system and medical vaporization devices.
PharmaCyte Biotech (OTCQB: PMCB) closed up over 6% on over 1.7Millions shares traded on Monday. PharmaCyte Biotech (PMCB) announced back in June that the Company is able to advance its Cannabis research now that its research partner, The University of Northern Colorado (UNC), successfully obtained a Schedule 1 license from the U.S. Drug Enforcement Agency or the DEA. This license will allow PharmaCyte Biotech to continue development of tumor-targeted treatments for serious and deadly cancers by utilizing cannabinoid prodrugs in combination with PharmaCyte Biotech's signature live-cell encapsulation technology, Cell-in-a-Box®.
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