WCVC Enters $146 Billion Legal Cannabis Sector with Industry Veteran USMJ
October 25 2018 - 9:02AM
InvestorsHub NewsWire
New York, NY. -- October 25, 2018 --
InvestorsHub NewsWire -- West Coast Ventures Group Corp. (OTCQB:
WCVC) and North American Cannabis Holdings, Inc. (USOTC:
USMJ) announced a deal on October 23rd to combine
forces in rolling out USMJ’s AmeriCanna Cafe concept restaurant in
Colorado. The move could ignite WCVC’s PPS which closed
yesterday at $0.03. WCVC is fully reporting and the current
PPS put’s the market cap well below the company’s annual
revenue. At a $0.20 PPS the market cap would roughly be equal
to the company’s annual revenue. From today’s PPS, that over
a 500% ROI. today announced entering into an agreement to
rollout a pilot cannabis themed restaurant in Colorado. A
$0.60 PPS is not out of the question, only equating to a market cap
equal to 3 times annual revenue. Find below the highlight
from WCVC’s announcement on the 23rd of
October:
“West Coast Ventures Group Corp. (WCVC)
develops, owns and operates two contemporary restaurant concepts:
Illegal Burger, a quick-casual burger + bar concept, and El Señor
Sol, a full-service fresh Mexican restaurant (5 restaurants in
the Denver Colorado area). Led by seasoned restaurant
entrepreneurs, WCVC management is committed to scaling both modern
sustainable concepts into national franchise models operating
metro-styled restaurants serving only the finest and freshest
natural ingredients. The Company generates gross annual sales
of $2,725,000.
AmeriCanna Cafe is a concept restaurant
business subsidiary of North American Cannabis Holdings (USOTC:
USMJ) slated for an imminent
spinoff. The spinoff is being affected by the
sale of AmeriCanna Cafe to an independently listed public company
yet to be disclosed. The spinoff transaction includes a
planned issuance of stock in the independently listed public
company to the shareholders of North American Cannabis Holdings in
a dividend distribution.
In conjunction with the agreement
announced today, Illegal Burger, a subsidiary of West Coast
Ventures will partner with AmeriCanna Cafe to pilot a cannabis
themed restaurant in Colorado. The pilot will be launched in
the form of a food truck featured in pop-up venues near a series of
recreational marijuana dispensaries in Colorado. The pilot
rollout is scheduled to start in the spring of
2019.
The initial agreement between Illegal
Burger and AmeriCanna Cafe does not include any exchange of equity
between the two companies or their respective parent
companies. Management of both companies indicates a future
equity exchange is
possible.”
For more information on West Coast Venture
Group and Illegal Burger:
https://www.westcoastventuresgroupcorp.com/
https://www.illegalburger.com/
For more information on North American
Cannabis Holdings and AmeriCanna
Café:
https://www.growusmj.com
https://www.growusmj.com/restaurant
Other cannabis sector intiatives making news include Pot Networks
(USOTC:POTN),
Hemp, Inc. (USOTC:
HEMP) and Cannabis Science (CBIS).
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.
Source –
nextbigticker.com
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