USMJ Confirms No Reverse Split And Commitment To Stock Dividend
Dallas, TX -- June 7, 2019 -- InvestorsHub NewsWire -- North American Cannabis Holdings, Inc. (USOTC: USMJ) (“USMJ”) today confirmed the company has no plans for executing a reverse stock split. The confirmation announcement today is in response to emails and telephone calls asking for details about an alleged reverse split. It appears a reverse spilt rumor was fabricated on stock message boards. USMJ management declines to speculate on the purpose of such a rumor.
“We are quite pleased with USMJ’s current operational performance,” said Steven Rash, USMJ CEO. “The cannabis sector ecommerce site launched earlier this year at www.USMJ.com is a success and growing nicely. Our cannabis logistics business is also going well. We anticipate our ongoing success and growth will be reflected in the share price. We see no reason or value in executing a reverse stock split.”
USMJ and Priority Aviation (name change pending) (USOTC: PJET) (“PJET”) also reiterated today that the two companies remain committed to the previously announced dividend of PJET stock to USMJ shareholders in conjunction with the spinoff of USMJ’s AmeriCanna Cafe business to PJET. 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.
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).
To learn more visit www.USMJ.com and www.GrowUSMJ.com.
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.