USMJ and PURA Confirm Respective Dividend Distribution Commitments
Dallas, TX -- March 14, 2019 -- InvestorsHub NewsWire -- North American Cannabis Holdings, Inc. (USOTC: USMJ) (“USMJ”) and Puration Inc. (USOTC: PURA) (“PURA”) today confirmed that their two separate dividend distributions plans, each in conjunction with recent, respective subsidiary operation sales, are still on track. USMJ and PURA are sister companies sharing the same majority shareholder, ACI Conglomerated. In the fourth quarter of 2018, USMJ sold its AmeriCanna Cafe Restaurant business to an independently listed public holding company as part of a strategy to support the restaurant business with a dedicated public equity. The independently listed public holding company is Priority Aviation (USOTC: PJET). The transaction between USMJ and PJET includes a name change for PJET and a dividend of PJET shares to USMJ shareholders. Similarly, PURA sold its cannabis cultivation subsidiary to Nouveau (USOTC: NOUV). The PURA and NOUV transaction also includes a dividend of NOUV shares to PURA shareholders. The execution of the dividends is taking longer than anticipated, but the plans have not changed. USMJ and PURA plan to release a joint shareholder update to be published online next Tuesday, March 19th, 2019 providing more details on the current status and progress of the two dividend distributions.
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.
CEO North American Cannabis Holdings, Inc.