North American Cannabis Holdings Announces LOI To Acquire Turning Point Cannabis Strategies
February 20 2018 - 11:49AM
InvestorsHub NewsWire
Dallas, TX -- February 20,
2018 -- InvestorsHub NewsWire -- North American Cannabis
Holdings, Inc. (USOTC:
USMJ) today announced a letter of intent to acquire Turning
Point Cannabis Strategies. The planned acquisition is
intended to advance USMJ’s entry into the California cannabis
market. The Company has posted an online presentation on the
Company’s website with more information about the planned
acquisition. The narrative from the presentation is included
in its entirety below.
Building A Model Business In Large Legal Marijuana Markets
– California & Canada
Turning Point Cannabis Strategies is developing brand strategy for
a cannabis grower and dispensary co-op in California and the
greater West Coast with specific opportunity in Washington.
Turning Point Cannabis Strategies has investment commitment for the
acquisition of a grow and dispensary operation where the model
co-op operation will be established and refined. After
acquiring and implementing the model co-op operation, Turning Point
Cannabis Strategies will initiate an effort to sign-up independent
grow and dispensary operations that will all adopt the model
operation practices and collectively market their products and
services under the co-op brand name.
Turning Point Cannabis Strategies plans to exchange equity in
Turning Point for equity in USMJ. The details of the exchange
are still in negotiation. USMJ prefers to close the
acquisition of Turning Point simultaneously with Turning Point’s
acquisition of a model grow and/or dispensary operation.
Turning Point’s cannabis
co-op brand plan is consistent with USMJ’s previously published
plan to establish a Sun Maid Raisins like cannabis business model
in the largest available legal market places and be positioned for
the inevitable nationwide legalization of cannabis in the United
States. USMJ is pursuing a branded grow and dispensary
operation intended to start with an in-house owned operation in
California and in Canada. Turning Point Cannabis Strategies is the
focus of USMJ’s efforts in California at this time. Brian Shibley,
the CEO of USMJ’s sister company, Puration, Inc. (USOTC: PURA) and
a Canadian, is leading the two companies in strategic meetings in
Canada this week with a major grow operation.
For more information on North American Cannabis Holdings and
Puration visit www.aciconglomerated.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.
For More Information Contact:
Steven Rash
info@aciconglomerated.com
1-800-861-1350
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