North American Cannabis Holdings and Puration Announce Spinoff and Dividend
May 31 2018 - 10:27AM
InvestorsHub NewsWire
North American Cannabis Holdings and
Puration Announce Spinoff and Dividend
Dallas, TX -- May 31, 2018 -- InvestorsHub
NewsWire -- North American Cannabis Holdings, Inc. (USOTC:
USMJ) and Puration, Inc. (USOTC:
PURA) published a shareholder update presentation today on the
company’s website. The presentation details a major strategic
update that includes two spinoffs and two dividend distributions of
spinoff stock, one to the shareholders of USMJ and one to the
shareholders of PURA. The strategic update is designed to
capitalize on the two company’s successes with EVERx CBD Infused
Sports Water and the AmeriCanna Cafe and to build momentum behind
new cannabis cultivation and ecommerce businesses. The
presentation narrative is included in its entirety below. See
the company website for more
detail.
North American Cannabis Holdings and Puration
Shareholder Update
North American Cannabis Holdings, Inc. (USMJ)
entered the cannabis sector in 2013 with an incubator business
model. The company experimented with a number of cannabis
related business endeavors to include cultivation, extraction,
retail, infused consumer products and specific health
applications. The extraction operation developed into a
spinoff that was sold to Puration, Inc. (PURA)
in a transaction that included an issuance of PURA stock in a
dividend distribution to the shareholders of USMJ. Today, the
controlling interest in both companies is held by ACI Conglomerated
(ACI). ACI continues to experimentally enter various cannabis
related sectors and where specific endeavors gain traction, to
develop those endeavors into business operations with the intention
of establishing new operations in public listings that can be
independently capitalized for growth. In conjunction with the
independent listings, ACI intends to issue stock in the new public
listings in additional dividend distributions similar to the PURA
dividend issuance to USMJ shareholders. The purpose of this
update presentation is to specifically address the strategic
spinoff of two operations and corresponding issuance of two
dividend distributions.
USMJ Restaurant Spinoff and New Ecommerce
Business
USMJ Management has developed a strategy to
enter a new line of business well suited to USMJ’s history and at
the same time, spinoff USMJ’s AmeriCanna Cafe restaurant operations
into a standalone publicly listed company in a transaction to
include a dividend issuance of stock from the independently listed
restaurant company to the shareholders of
USMJ.
ACI
has already struck a deal to acquire control of an existing public
company already in the cannabis sector. That acquisition is
anticipated to be complete within the next 30 days. After the
acquisition, USMJ will sell its AmeriCanna Cafe restaurant
operations to the newly acquired company in exchange for stock in
the newly acquired company, a portion of which will be issued to
the shareholders of USMJ.
USMJ’s primary business operation moving forward
will be ecommerce. The company has already begun construction
on an ecommerce solution to establish USMJ as the premier source of
cannabis sector consumer products. At the same time, the
company has also started to develop distribution agreements with
manufactures of cannabis sector consumer products. USMJ is a
well-known name in the cannabis sector with a high traffic
website. The company also brings retail and wholesale
experience to its new ecommerce operations which will feature
leading CBD infused edibles and beverages in addition to a host of
other products. The vision for the company is to become the
Amazon of cannabis.
PURA Spinoff and Expanded Beverage Industry
Operation
Last year, PURA introduced EVERx CBD Infused
Sports Water as an evolution of the company’s cannabis extraction
business. EVERx has since become a recognized brand in sports
nutrition market place. Distribution is growing. PURA
has recently designed a THC infused beverage named THCSavor
expected to be introduced in Canada later this year. In a
strategy to extend the company’s extraction business upstream into
cultivation, PURA acquired a grow operation last year and recently
acquired an additional cultivation business in Canada.
PURA management now plans to spinoff its
cultivation business into a standalone, independently listed
company and concentrate PURA’s ongoing operations on expanding its
cannabis infused beverage business. The transaction to
structure the cultivation business into a standalone independently
listed public company will include a share exchange between PURA
and the independently listed public company where shares of the
independently listed public company will be issued to the
shareholders of PURA in a dividend distribution. An
independently listed public company for the planned spinoff of
PURA’s cultivation operations has not yet been specifically
identified, but efforts are underway to lockup a deal
soon.
Next Steps
Behind the spinoffs and dividends are the
essential marketing and operational developments to build
successful ecommerce, restaurant, beverage and cultivation
businesses. Shareholders can expect a number of exciting
upcoming announcements as management unfolds the marketing and
operational details behind the updated business
plans.
For
more information on North American Cannabis Holdings and Puration,
visit http://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
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