DALLAS, July 10, 2015 /PRNewswire/ -- North American Cannabis Holdings, Inc. (USMJ) filed a pro forma financial statement disclosure following the June 30, 2015 acquisition of a Dallas, Texas based destination beverage business. The acquisition is a strategic component of the Company's recent 'AmeriCanna Café' launch.
North American Cannabis Holdings is a development stage company without any organic sales prior to the recent acquistion. With approximately $420,000 in annual revenue and a gross profit margin of 55%, the acquisition will have an immediate substantial impact on the financial performance of the Company. Accordingly, a PRO FORMA financial statement consolidating the financials of the acquired operations for the last year has been filed in an acquistion disclosure.
Excerpt From The Acquisition Disclosure:
The acquisition is part of a business plan to rapidly roll out a chain of cannabis infused destination beverage storefronts under the brand name 'AmeriCanna Café.' The acquired Dallas CityBlends Cafe is an ongoing operation with over a 10-year operating history selling CityBlend smoothies and other beverages and serving health conscious food.
North American Cannabis Holdings plans to rapidly rollout the AmeriCanna Café with the advantage of the CityBlends national infrastructure, and with the management retained in the acquisition. North American Cannabis Holdings plans to introduce its first AmeriCanna Cafe drinks in the acquired CityBlends Cafe and potentially throughout the CityBlends national network. North American Cannabis Holdings also plans with the acquired CityBlends Cafe management to open a first standalone AmeriCanna Cafe in the Dallas Metroplex as the model store for the national chain.
The acquisition disclosure can be reviewed in its entirety at:
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 www.growusmj.com.
Follow the company on Twitter: http://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.