MMJ Observer - North American Cannabis Holdings Inc (OTCMKTS:USMJ) Targets Merger Madness In Canadian Cannabis Market
December 05 2017 - 10:57AM
InvestorsHub NewsWire
By Brandon
Manns
December 05, 2017
-- InvestorsHub NewsWire -- North American Cannabis Holdings Inc
(OTCMKTS:USMJ) reported
expanding its M&A locations beyond the previously reported
negotiations to buy a renowned medical marijuana dispensary in
Canada. Steven Rash, the CEO, expressed that a countrywide legal
recreational industry in Canada is going to advance the cannabis
industry forward significantly.
The
details
When the
United States approves recreational marijuana countrywide, the
firms that have the impetus from being developed in Canada will
have a notable leg up on dominating the prospect in the U.S. They
record a remarkable start with the initial dispensary acquisition
under talks. The company is not stopping there. They project to
witness major consolidation in the Canadian pot industry and they
are beginning to advance a consolidation pipeline of their
own.
CBS News
recently announced on the cannabis consolidation activity in Canada
in a publication. This article showcases an analysis by Ernst &
Young on the industry and features current high-profile merger
plans to include Aurora Cannabis hostile bid to buy CanniMed
Therapeutics, and in turn, CanniMed’s attempt to takeover NewStrike
Resources. It mentions Bruce Linton, the Chief Executive Officer
of Canopy Growth Corp (OTCMKTS:TWMJF) told
Ernst & Young that he anticipates the count of cannabis firms
to narrow. Over the long term, he expects an industry with just two
or three major players and group of craft producers.
In
unrelated news, North American Cannabis and Puration
Inc (OTCMKTS:
PURA) reported combining initiatives on former’s
previously reported talks to buy a renowned medical marijuana
dispensary in Canada. Puration recently reported plans to launch
cannabis infused drinks into the approved $8 billion Canadian
marijuana industry. The two firms have added to North American
talks an anticipated exclusive right for the Canadian dispensary
cannabis extractions to originate exclusively from Puration using
its patented extraction process.
In the last
trading session, the stock price of North American Cannabis traded
in a narrow range to close flat at $0.00040
Source: https://www.mmjobserver.com/north-american-cannabis-holdings-inc-otcmktsusmj-targets-merger-madness-in-canadian-cannabis-market/29142/
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