North American Cannabis Holdings Inc Executes AmeriCanna Cafe Spinoff and Announces Planned Dividend
November 01 2018 - 9:26AM
InvestorsHub NewsWire
Dallas, TX -- November 1, 2018 --
InvestorsHub NewsWire -- Puration, Inc.
(USOTC:
USMJ) (“USMJ”) today announced spinning off its
AmeriCanna Cafe business. The spinoff is part of a
comprehensive strategy to support the AmeriCanna Cafe in expanding
and commercializing its cannabis themed restaurant concept.
USMJ recently announced an agreement with West Coast Venture Group
(OTCQB: WCVC) the owner and operator of the $3 million Colorado
based Illegal Burger chain, to partner in rolling out an AmeriCanna
Cafe pilot featuring an AmeriCanna Cafe food truck in pop-up venues
near a series of recreational marijuana dispensaries
in Colorado. The spinoff also supports USMJ’s strategy to
concentrate its resources on the launch of a cannabis sector
ecommerce site leveraging the company’s “USMJ” brand. An “Amazon of
Cannabis” site is under development and coming soon. A
pre-launch site demonstrating the ecommerce engine capabilities
selling EVERx CBD Sports Water produced by USMJ affiliate Puration,
Inc. (USOTC:
PURA) (“PURA”) is expected later this month. The
pre-launch site is intended to include the capability to accept
cryptocurrency payments for EVERx..
The spinoff announced today has been
affected through the execution of a securities exchange agreement
between USMJ and Priority Aviation (USOTC:
PJET) (“PJET”). USMJ has sold its AmeriCanna Cafe
business in exchange for a convertible purchase note issued by
PJET. Neither USMJ nor PJET are executing a reverse split in
conjunction with this transaction. USMJ and PJET do plan to
promptly convert the $1.5 million note into a number of common PJET
shares sufficient to issue one PJET common share for every fifty
shares of USMJ common shares issued and outstanding. All of
the PJET common shares issued in conversion of the purchase note
are slated for distributed to USMJ shareholders in a dividend
distribution. USMJ and PJET management plan to present
further details on the transaction announced today in conjunction
with the associated ecommerce and restaurant business plans in an
online presentation one week from today, on Thursday, November
8th, 2018.
PJET divested its aviation assets last
year when it acquired Telluride Health Company (“THC”), the
producer of Telluride Happy Water, a beverage designed to enhance
the uptake of THC and CBD. THC’s operations have taken longer
than anticipated to launch production of Telluride Happy Water, but
a first production run of Telluride Happy Water has just been
initiated with the help of PURA and its co-packer and partner,
Alkame Holdings, Inc. (ALKM).
In conjunction with the spinoff transaction between USMJ and PJET
announced today, PURA will acquire the THC operation from PJET and
Telluride Happy Water will become part of PURA’s cannabis beverage
portfolio.
Learn more about USMJ at www.growusmj.com
Learn more about PURA at www.purationinc.com
Learn more
about PJET’s THC operation at www.telluridehealthcompany.com
Learn more about West Coast Venture Group
and Illegal Burge at
https://www.westcoastventuresgroupcorp.com/
https://www.illegalburger.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.
Steven
Rash
CEO
North American Cannabis Holdings, Inc.
info@aciconglomerated.com
+1-800-861-1350
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