American Cannabis Innovations Announces Steven Rash As CEO
May 30 2017 - 10:35AM
InvestorsHub NewsWire
Dallas, TX -- May 30,
2017 -- InvestorsHub NewsWire -- North American
Cannabis Holdings, Inc. (USOTC:
USMJ) today announced that its CEO, Steven Rash will
become the CEO of American Cannabis Innovations
Conglomerated (“ACI”) in conjunction with the impending
acquisition of the controlling interest in both USMJ and
Puration, Inc. (USOTC:
PURA) by ACI. The acquisition by ACI is
anticipated to be finalized this week. Mr. Rash will continue
as the CEO of USMJ until a new CEO is selected.
USMJ and PURA Market Capitalization
Improvements
The common stock of USMJ and PURA will remain traded on the OTC
Markets with no forward or reverse split taking place in
conjunction with the ACI transaction. ACI expects the
potential for market capitalizations of USMJ and PURA to improve by
transitioning the acquired companies toward better investment
structures, with better terms, that are altogether better suited to
their current and more mature stage of development. USMJ and
PURA both recently announced substantial convertible debt
eliminations in conjunction with the pending ACI transaction.
ACI Business Plan
ACI is a private equity backed rollup founded to combine a variety
of leading young cannabis companies with complimentary offerings
and synergistic operations. USMJ and PURA are the first of five
acquisitions in the cannabis sector ACI has planned for the near
future. ACI is seeking to acquire early stage, undervalued
businesses with intellectual properties validated by market tests,
and commercial or consumer sales. ACI expects to improve the
operating efficiency of acquired assets by streaming redundant
functions and leveraging complimentary functions.
Steven Rash Experience
Steven Rash has served as the new CEO of USMJ since November of
2014. Mr. Rash is a medical industry veteran with a lengthy
list of career accomplishments and experiences. Mr. Rash
has negotiated medical device licensing agreements and health care
partner strategic alliances that combined have generated over $650
million in new revenues. Mr. Rash has also managed numerous drug
trials and secured multiple FDA approvals. He has signed over
400 managed care contracts and made more than 200 Boardroom
presentations at Fortune 500 companies. Mr. Rash served as
President and CEO of American BioMed, Vice President of Blue Rhino
Corporation and Division President of Maxum Health Corporation. He
earlier held numerous Vice President positions at BOC Group, PLC.
Mr. Rash has a BS in Business Administration from the University of
Delaware and an MBA from Southern Illinois University. Mr.
Rash is also a Veteran of the United States Army.
Learn More About
USMJ:
growusmj.com
Learn More About PURA:
purationinc.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.
North American Cannabis Holdings Contact:
Steven Rash
Phone: +1-972-528-0162
Email: Info@growusmj.com
North American Cannabis (CE) (USOTC:USMJ)
Historical Stock Chart
From Aug 2024 to Sep 2024
North American Cannabis (CE) (USOTC:USMJ)
Historical Stock Chart
From Sep 2023 to Sep 2024