Dallas, Texas -- December 1, 2017 -- InvestorsHub NewsWire -- North American Cannabis Holdings, Inc. (USOTC: USMJ) today announced expanding its merger and acquisition sites beyond the previously announced negotiations to acquire an established medical marijuana dispensary in Canada.
“A nationwide legal recreational market in Canada is going to move the cannabis industry forward by leaps and bounds,” said Steven Rash, CEO of North American Cannabis Holdings. “When the US legalizes recreational marijuana nationwide, the companies that have the momentum from being established in Canada will have a significant leg up on dominating the opportunity in the US. We have a good start with the first dispensary acquisition under negotiation. We’re not stopping there. We expect to see major consolidation in the Canadian marijuana industry and we’re starting to develop a consolidation pipeline of our own.”
CBS News recently reported on the cannabis consolidation activity in Canada in an article tiled “Merger madness: Canada’s marijuana industry enters consolidation phase.” The article highlights a study by Ernst & Young on the consolidation industry and features ongoing high-profile merger activity to include the Aurora Cannabis (ACBFF) hostile bid to takeover CanniMed Therapeutics (CMMDF), and in turn, CannidMed’s bid to takeover NewStrike Resources (NWKRF). The article reports that Bruce Linton, the CEO Canopy Growth (TWMJF) told Ernst & Young that he expects the number of cannabis companies to narrow. "Over the long term, I see an industry with two or three major, relevant players and bunch of craft producers."
Learn more about USMJ, its parent company, ACI, and ACI’s other holdings to include PURA by visiting: 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.
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