USMJ Releases Ecommerce Sales And Pending Dividend Distribution Updates
May 14 2019 - 9:21AM
InvestorsHub NewsWire
USMJ Releases Ecommerce Sales And
Pending Dividend Distribution Updates
Dallas, TX -- May 14, 2019 -- InvestorsHub
NewsWire -- North American Cannabis Holdings, Inc. (USOTC:
USMJ) (“USMJ”) today released an update featuring the company’s
Ecommerce sales growth and the pending dividend of Priority Aviation (name change pending) (USOTC: PJET)
(“PJET”) stock to USMJ shareholders. Both the Ecommerce
growth and pending dividend are parts of USMJ’s overall transition
into a cannabis logistics company. Since entering the
cannabis sector in 2013 as a cannabis enterprise incubation
company, USMJ has engaged in and developed a number of cannabis
business operations. A leading cannabis business under USMJ’s
umbrella has been its cannabis themed restaurant operations.
The cannabis themed restaurant operations have resulted in the
development of logistics skills. In the fourth quarter of
last year, USMJ initiated a business transition to focus ongoing
business development on becoming a leading cannabis sector
logistics provider. This transition has been highlighted by
the spinoff of the company’s AmeriCanna Cafe concept restaurant to
PJET in a deal that includes an intended dividend distribution of
PJET stock to USMJ shareholders. The transition has also been
highlighted by the introduction of a cannabis sector Ecommerce site
that features USMJ’s logistics capacity through the fulfillment of
cannabis sector product sales. The update today provides the
latest news and next steps on the USMJ Ecommerce business and the
pending dividend of PJET stock to USMJ
shareholders.
Dividend of PJET Stock
To USMJ Shareholders
In the fourth quarter
of last year, USMJ sold its AmeriCanna Cafe concept restaurant to
PJET in a transaction that included USMJ receiving PJET stock
intended for distribution to USMJ shareholders through the issuance
of a dividend. PJET has exited its previous business
operations. The previous PJET business operations had
languished and PJET had become delinquent in its public disclosures
published through OTC Markets. The initial planned step toward the
dividend distribution of PJET stock to USMJ shareholders was for
PJET to come current with its required OTC Markets
disclosures. Coming current with OTC Markets disclosure
requirements has proven to be a more time-consuming task than
originally anticipated. While management continues in its
effort to come current with OTC Markets disclosure requirements,
management has implemented a supplemental initiative to accelerate
the planned dividend distribution of PJET stock to USMJ
shareholders.
USMJ and PJET
management both believe the OTC Markets required disclosures
provide shareholders with important information that supports
investment decisions. The required disclosures are important
to supporting the planned PJET dividend to USMJ shareholders.
Since the process of providing the disclosure information through
OTC Markets is taking longer than anticipated, and because it is
difficult to control the timeframe in which the disclosures through
OTC Markets will be up-to-date, PJET now plans to launch a
supplemental website that will include the same information
required by OTC Markets. The new PJET website is anticipated
to be live by the end of next week. Following the launch of
the new website, USMJ and PJET plan to immediately initiate the
dividend distribution process.
The current primary
initiative at PJET is to launch the AmeriCanna Cafe in Colorado in
a partnership with West Coast Venture Group (OTCQB:
WCVC) (“WCVC”) the owner and operator of the $3 million
Colorado based Illegal Burger chain.
WCVC and
USMJ were featured recently by Born2Invest, a digital news
organization dedicated to writing about and publishing the business
and financial affairs of the world. The
article, Cannabis companies set to rule the edibles market
in 2019, highlights
WCVC's plans with USMJ to launch a cannabis themed
restaurant.
USMJ Ecommerce Sales
Growth
After
years of cannabis sector business incubation, USMJ transitioned
late last year into focusing on cannabis sector logistics
services. To demonstrate the caliber of their logistics
capabilities, the company launched its www.USMJ.com
Ecommerce site. Sales have
been steadily growing since the launch and the product line
available at www.USMJ.com
continues to also grow. USMJ
Ecommerce products today include Hemp4mula CBD Gum from
Kali-Extracts (USOTC:
KALY) and EVERx CBD Sports Water from Puration (USOTC:
PURA).
The
USMJ Ecommerce site went live in the first calendar quarter of
2019. The success of www.USMJ.com sales overwhelmed PURA’s EVERx
production capacity and EVERx deliveries fell behind. PURA
has worked closely with USMJ’s logistics expertise to expand PURA’s
production capacity. PURA has recently come current with its
orders and is now prepared to stay current with demand and expand
sales.
USMJ is
adding new products from multiple manufactures and has already
initiated development of a version 2.0 of www.USMJ.com anticipated to go live this
summer. USMJ revenue over the next few quarters will reflect
Ecommerce sales and legacy restaurant operation sales. Over
the next few quarters, management anticipates Ecommerce revenue to
represent an increasing percentage of revenue and legacy restaurant
operations to represent a decreasing percentage of
revenue.
To learn more
visit www.USMJ.com
and www.GrowUSMJ.com.
Disclaimer/Safe
Harbor:
This news release
contains forward-looking statements within the meaning of the
Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
expectation that any of the companies mentioned herein will achieve
significant sales, the failure to meet schedule or performance
requirements of the companies' contracts, the companies' liquidity
position, the companies' ability to obtain new contracts, the
emergence of competitors with greater financial resources and the
impact of competitive pricing. In the light of these uncertainties,
the forward-looking events referred to in this release might not
occur. These statements have not been evaluated by the Food and
Drug Administration. These products are not intended to diagnose,
treat, cure, or prevent any disease.
Steven
Rash
CEO North
American Cannabis Holdings, Inc.
info@aciconglomerated.com
+1-800-861-1350
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