DALLAS, July 12, 2016 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) today announced a preliminary revenue forecast of $2 million for the next fiscal year. The Company's fiscal year-end is June 30. After reporting $377,000 in revenue through the third quarter ending March 31, 2016 and combining an initial tabulation of results for the fourth quarter, management estimates revenue for fiscal year 2016 at approximately $500,000.
"North American Cannabis Holdings exceeded its 2016 revenue forecast by approximately 20%," said CEO Steven Rash. "We are certainly pleased with the results and even more enthusiastic about the prospects for next year. We anticipate roughly $1.5 million of the forecasted revenue to result from the opening of new AmeriCanna Cafe restaurants and another $500,000 dollars to come in from the sale of our EVERx sports and fitness supplements. We are finalizing an agreement with a restaurant group that we expect to announce next week further elaborating upon the details behind our preliminary $2 million forecast."
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.