LOS ANGELES, Aug. 29, 2014 /PRNewswire/ -- Chuma Holdings, Inc. (OTCBB:CHUM) (the "Company"), an entity providing both financing alternatives and turnkey support services for the lawfully organized cannabis industry, is pleased to announce that FINRA processed and approved the Company's name and symbol change request. Effective today, August 29, 2014, CannaMed Corporation will be known as Chuma Holdings, Inc.
The name change was accomplished through a merger with the Company's wholly-owned subsidiary, Chuma Holdings, Inc., that is effective as of today, August 29, 2014. CannaMed Corporation is the surviving entity in the merger, but it will continue with the new name and ticker symbol. Only the Company's name was changed in the Articles of Incorporation.
In connection with the name change, FINRA has assigned the Company a new symbol, "CHUM." The new CUSIP number is 171326101.
Purpose of Name Change
"When we initially chose the name CannaMed we were targeting the Nevada marketplace. However, since changing our scope to operate nationwide, and arriving in the California markets, it came to our attention that there is a private company in the cannabis sector with the CannaMed name, operating prior to ourselves. In order to avoid confusion between this great company and ourselves, we engaged with our marketing and legal teams to assist us in rebranding the Company," stated Mr. Jordan Shapiro, CEO of Chuma Holdings Inc.
Mr. Shapiro continued, "we are pleased to announce the new name of our brand, Chuma. Chuma means 'fantastic' and 'unbelievable'. This aligns perfectly with our Company's vision; which is to make the cannabis industry a better place to work for our clients. We will continue striving to create a better environment in which our clients can build their operations and empower their patients. We are very excited to bring the Chuma brand to market in the coming weeks."
About Chuma Holdings Inc.
Chuma Holdings is a public company quoted on the OTCBB as CHUM. Prior to August 29, 2014, our name was CannaMed Corp. and our ticker symbol was MDMJ. Along with our wholly-owned subsidiaries, we provide turnkey support solutions to the rapidly evolving and growing legal cannabis industry. We provide "seed to sale" turnkey business services including:
- Funding and Financing Solutions
- Compliance Consulting Solutions
- Collective, Dispensary and Retail Solutions
- Commercial Production and Equipment Build Out Solutions
- Banking and Payment Processing Solutions
- Multichannel Supply Chain Solutions
- Management, Branding, Marketing and Sales Solutions
- Research and Development Solutions
- Consumer Product Solutions
Our experienced management team has a combined thirty-two years of successful experience in the legal cannabis industry in California, and we are currently generating revenue from existing financing and service solutions. Chuma is expanding throughout California and bringing its array of services to each new state that legalizes the use of cannabis. At this time, Chuma does not grow, process, own, handle, transport, or sell marijuana. As the legal environment changes in California and elsewhere, management may explore business opportunities that involve ownership interests in dispensaries and growing operations. For more information, please visit www.CannaMedCorp.com.
Safe Harbor Statement
This release contains "forward-looking statements" that include information related to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the ability of Chuma to secure appropriate funding to implement its business plan, the demand for Chuma's services, Chuma's ability to maintain customer and strategic business relationships, the regulation of legal cannabis on both state and federal levels, the impact of competitive products and pricing, growth in targeted markets, and other information that may be detailed from time-to- time in Chuma's filings with the United States Securities and Exchange Commission. Chuma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE CannaMed Corporation