USMJ and PURA Celebrate Vermont Becoming 9th State To Legalize Marijuana With A New Update To The Company Website
January 24 2018 - 1:46PM
InvestorsHub NewsWire
Dallas, TX -- January 24,
2017 -- InvestorsHub NewsWire -- North American Cannabis Holdings,
Inc. (USOTC:
USMJ) and Puration, Inc. (USOTC:
PURA) today announced an update to the “frequently asked
questions” (FAQ) section of the companies’ combined website.
The update is released in conjunction with Vermont yesterday
passing a new cannabis legalization law
becoming the 9th state to legalize adult use.
“North American Cannabis Holdings cut its teeth in the cannabis
business in Vermont,” said Steven Rash, company CEO. “In 2014, we
grew the largest legal hemp crop in the State. Our farmer was
interviewed by National Public Radio, NPR. We learned a lot
in Vermont and hope our efforts may have contributed to the
movement that culminated in yesterday’s legalization
milestone. We continue to learn, evolve and expand our
business in this sector and today we’re taking a moment to address
questions and comments we’ve received about our latest progress in
an update to the FAQ section of our website.”
The update can be found on the company’s website and in the
narrative below:
Last year the majority interest of North American Cannabis Holdings
(“USMJ”) and Puration (“PURA”) were reorganized under American
Cannabis Innovations Conglomerated (“ACI”). A new website was
launched with information about both USMJ and PURA. The new
website included an FAQ section to address questions about the
reorganization and the two companies’ overall business
strategy. The original FAQ responses remain on the website
with some new updates added to the old responses. Some new
FAQ responses have been added.
The cannabis sector is rich with promising entrepreneurial
endeavors. The dotcom market of the nineties was similarly
rich with promising entrepreneurial technology endeavors. The
major difference between the cannabis and dotcom sectors is the
availability of follow-on investment. Seed capital to fund
concepts comes largely from the entrepreneurs themselves and their
friends and family. Worthy concepts then have access to
follow-on venture and mezzanine investments. However, the
interim state of nationwide legalization throws a wrench into the
availability of follow-on investment for worthy cannabis concept
enterprises.
A growing number of entrepreneurial endeavors are dealing with the
shortage of follow-on investment by taking their enterprises into
the micro-cap public market to fund growth with investments
structured around publicly traded stock. This comes with some
pluses and minuses. On the plus side, enterprise agnostic capital
is available for companies with penny and sub-penny priced share
prices. Criteria for a direct investment in a micro-cap public
company is less about the operational prospects of a company and
more about trading history and potential. The minuses include
increased government regulatory scrutiny for enterprises the
government finds objectionable.
A core component of the business development strategy behind USMJ
and PURA is to diversify operations into related, but separate
business entities. For instance, the patented cannabis extraction
operation in PURA was originally under USMJ. Today, USMJ and
PURA work together, but each can pursue investments and deliver
shareholder returns through independent listings. By
positioning discrete operations within separate business entities,
we optimize access to the limited availability of follow-on capital
within the micro-cap public investment arena. We also
mitigate the risk of a possible weakness within in one function
negatively impacting the viability of a separate function.
In a similar fashion, we plan to further diversify operations into
independent listings and we now have new tools available that we
think will improve the spinoff process to diversifying into
independent listings. While the PURA spinoff was executed
through the sale of the extraction operation to another micro-cap
public company that included a dividend issue of PURA stock to USMJ
shareholders, we now plan to take advantage of the new Regulation
Crowdfunding tools to diversify operations. USMJ shareholders
had to wait a year after the spinoff for the PURA dividend shares
to be eligible for free trading under existing rules for exemption
from registration (see FAQ UPDATE: “I HAVE PURATION STOCK ISSUED TO
ME IN A DIVIDEND …”). Our future direction entails
registering separated operations under the new Regulation
Crowdfunding rules and shortening the timeframe until spinoff
shares are eligible for trading.
As we look at new spinoff opportunities, our selection criteria are
centered on facilitating our pursuit of the largest cannabis market
opportunities. USMJ and PURA are working together and with
other third parties to position shareholders to benefit from the
large legal recreational market opportunities in Canada and
California. There is nothing new to share here in FAQ at this
time other than a confirmation of our Canada and California
strategies and the information that is available in recent press
releases, on the website and in public disclosures.
Management is enthusiastic about the Canada and California
opportunities and encouraged by the business development progress
to date.
For further updates, see the updated information in original FAQ
entries (on the company website).
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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