USMJ in Discussions With ALYI On Deal That Could Lead To Second Spinoff and Dividend
October 25 2016 - 9:10AM
InvestorsHub NewsWire
North American
Cannabis Holdings In Discussions With Alternet Systems On Deal That
Could Lead To Second Spinoff and Dividend
Dallas, TX October 25, 2016 --
InvestorsHub NewsWire
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:
North American Cannabis Holdings, Inc.
CEO Update
To learn more about North American
Cannabis
Holdings:
growusmj.com.
Follow the Company on
Twitter:
US_HEMP
To learn more about Alternet Systems:
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.
USMJ Contact:
Steven Rash
Phone: +1-972-528-0162
Email: Info@growusmj.com
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