USMJ Dividend Shareholder of Record Date Anticipated To Settle Today Wednesday 26 October 2016
October 26 2016 - 9:56AM
InvestorsHub NewsWire
North American
Cannabis Holdings Shareholder Record Date, Payment Date, and
Ex-Dividend Date
Dallas, TX – Oct 26, 2016
North American Cannabis Holdings, Inc. (USMJ) set last Friday,
October 21, 2016 as a Shareholder of Record Date for a dividend of
stock in Puration, Inc. (PURA) to be issued to shareholders.
The Record Date was appropriately registered as required with
regulatory authorities. Shareholders as of close of business on
last Friday are eligible to receive shares in PURA. Within
the electronic stock trading systems of the United States, a trade
generally takes three days to settle – for the buyer to be
registered as the new owner of the purchased stock.
Accordingly, today, Wednesday, October 26, 2016 will be the day the
purchases or USMJ stock on last Friday settle, and that USMJ will
have the list of shareholders eligible to receive PURA stock.
USMJ plans to issue 1 share of PURA stock to USMJ shareholder for
every 200 shares of USMJ stock owned as of last Friday.
The Dividend Payment Date is anticipated to be announced within the
next thirty days. USMJ is currently working with regulatory
oversight authorities to finalize necessary details to execute the
issuance of PURA stock to USMJ shareholders. Subject to
satisfying all regulatory pre-requisites, USMJ shareholders that
acquired stock on or before the Record date will receive stock in
PURA based on the yet to be set Payment Date. Again, allowing
for USMJ stock ownership to ‘settle,’ USMJ shareholders eligible to
receive PURA stock on the Payment Date will be determined three
days after the Payment Date.
In an attempt to address any confusion regarding Record Date,
Ex-Dividend Date and Payment Date, find below a segment from the
SEC website regarding frequent questions about
dividends:
Sometimes a company pays a
dividend in the form of stock rather than cash. The stock dividend
may be additional shares in the company or in a subsidiary being
spun off. The procedures for stock dividends may be different from
cash dividends. The ex-dividend date is set the first business day
after the stock dividend is paid (and is also after the record
date).
If you sell your stock before the ex-dividend date, you also
are selling away your right to the stock dividend. Your sale
includes an obligation to deliver any shares acquired as a result
of the dividend to the buyer of your shares, since the seller will
receive an I.O.U. or "due bill" from his or her broker for the
additional shares. Thus, it is important to remember that the day
you can sell your shares without being obligated to deliver the
additional shares is not the first business day after the
record date, but usually is the first business day after the stock
dividend is paid.
History of USMJ Dividend and Cannabis Enterprise
Business Development Strategy
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.
At close of business today, October 21,
2016, all USMJ shareholders of record will be eligible to
receive a dividend issuance of PURA common stock.
USMJ shareholders will receive 1 share
of PURA common stock for every 200 shares
of USMJ common stock they own on October 21,
2016.
Puration is a model for the future of
North American Cannabis Holdings with future PURA-like spinoffs and
dividends to come. A second spinoff is in the works
now.
Review USMJ's recent CEO update
published earlier this 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
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
North American Cannabis (CE) (USOTC:USMJ)
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