DALLAS, October 25, 2016 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) today announced entering discussions with Alternet Systems, Inc. (ALYI) on a deal that could lead to a second spinoff and dividend for North American Cannabis Holdings shareholders.
North American Cannabis Holdings has been quietly working on a cannabis payment system pilot since the beginning of this year. Alternet, with their extensive financial systems industry experience, has been involved with the project from the onset. North American Cannabis Holdings and Alternet have recently entered discussions intended to construct an agreement between the two companies that would result in a transaction similar to North American Cannabis Holdings' transaction with Puration, Inc. (PURA) where North American Cannabis Holdings shareholders are slated to receive stock in Puration through a dividend distribution.
Friday, October 21, 2016 was a shareholder of record date for the first dividend to be issued in conjunction with North American Cannabis Holdings' cannabis enterprise business development model. Shareholders as at close of business last Friday (determined on T+3 settlement date) will be eligible to receive the first dividend to be issued in conjunction with the Company's cannabis enterprise business development model.
North American Cannabis Holdings entered the cannabis sector in 2013 with a strategy to pilot various cannabis sector enterprises. The Company planned to facilitate the financing necessary to expand successful pilot projects by spinning graduating projects off into standalone public companies. The first spinoff was executed last year when Puration, Inc. (PURA) acquired graduating pilot project assets from North American Cannabis Holdings in exchange for Puration preferred stock. A portion of the Puration preferred stock was designated for conversion into common stock and issuance to North American Cannabis Holdings shareholders.
Puration is a model for the future of North American Cannabis Holdings with future Puration-like spinoffs and dividends to come.
Provided the current discussions go as planned, Alternet stands to be the foundation of North American Cannabis Holdings next Puration-like spinoff and dividend.
Alternet Systems is currently developing and commercializing a growing portfolio of digital commerce technologies. Alternet has long-term track record in developing innovative financial services industry software solutions. The company is guided by a team of executives specializing in entrepreneurial endeavors, innovation, corporate strategy, financial and executive management of multi-national organizations, and a vast network of industry resources. Alternet recently developed a unique financial services solution which was successfully sold allowing the Company to realize a 47% ROI. That same management is now involved in the discussions with North American Cannabis Holdings.
Review USMJ's recent CEO update published last week to learn more about the Company's strategy going forward and performance to date having recently reporting 23% annual revenue growth:
To learn more about North American Cannabis Holdings: http://www.growusmj.com .
Follow the Company on Twitter: US_HEMP
To learn more about Alternet Systems: http://www.alternetsystems.com
Follow the Company on Twitter: AlternetSystems
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.