North American Cannabis Holdings Previews Next Anticipated Pilot Project Spinoff and Dividend
25 October 2016 - 3:57AM
InvestorsHub NewsWire
Dallas, TX -- October 24,
2016 -- InvestorsHub NewsWire
North American Cannabis Holdings, Inc.
(USMJ)
today previewed its next anticipated pilot project spinoff and
dividend. The Company has been quietly working on a cannabis
payment system pilot since the beginning of this year. The payment
system pilot has been conducted in conjunction with another OTC
Markets listed company. USMJ and the other OTC Markets
company are planning to execute on a transaction similar to USMJ’s
transaction with Puration, Inc. (PURA)
where USMJ 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 the USMJ's cannabis enterprise business
development model.
Shareholders as at close of business on
Friday (determined on T+3 settlement sate) will be eligible to
receive the first dividend to be issued in conjunction with the
Company's cannabis enterprise business development
model.
USMJ 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 USMJ in
exchange for PURA preferred stock. A portion of
the PURA preferred stock was designated for conversion
into common stock and issuance to USMJ shareholders.
Puration is a model for the future of
North American Cannabis Holdings with future PURA-like spinoffs and
dividends to come.
Review USMJ’s recent CEO update
published last week to learn more about the Company’s strategy
going forward and performance to cate having recently reporting 23%
annual revenue growth
North American Cannabis Holdings, Inc.
CEO Update
To learn more about North American
Cannabis Holdings: http://www.growusmj.com.
Follow the Company on Twitter: https://twitter.com/US_HEMP
The shareholder of record date and the dividend issuance remains
subject to final clearance from FINRA.
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.
USMJ Contact:
Steven Rash
Phone: +1-972-528-0162
Email: Info@growusmj.com
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