UA
Multimedia Provides
Development Update and Outlines
Crypto Strategy
Irvine, CA --
April
19, 2018 --
InvestorsHub NewsWire -- UA Multimedia, Inc.
(OTC: UAMM),
a
solution provider of cannabis ancillary
products and services and
crypto technology,
today announces development
update
and outline of its crypto strategy.
Work
is ongoing in the design and
development of the company's cannabis
ecosystem
which will include free and premium ads, service provider
finder, ecommerce
store, profile database for
professional networking, personal profile for social interaction,
discussion forums and media channels. The ecosystem will
consist of a collection of various websites and mobile
apps.
The
company is in the process of forming a new wholly owned subsidiary
which will function as the main entity for the ecosystem. The
entity will issue ERC20
utility
tokens
on
the Ethereum
blockchain
which can
be earned as customer and service rewards or
purchased directly from the
company. The tokens will be
offered to all UA Multimedia's shareholders at a discount.
Additional information of the tokens and procurement details will
be provided in the near future. Pending successful development, the
tokens will be listed to trade on several crypto exchanges
later
this year.
In
addition to the usage within the company's ecosystem, the tokens
can be used to purchase other cryptocurrencies as
well as use on other platforms. Management
plans to form partnerships
with various other companies in
the cannabis industry to adopt and proliferate
the use
of the tokens.
The
cannabis industry has seen slow development since Jeff Session
rescinded the Cole Memo early this year. However, last
week
President Trump had shown willingness to back state level
marijuana regulation, a step necessary to reignite and
foster
growth in the industry. As a result of this development, the
company will begin revisiting initiatives that it had put on hold
due to Session's action. Further information about these efforts
will be provided as progress is made.
"This
is an exciting time for UA Multimedia with the convergence of
several major developments in the cannabis and crypto arena. We
have major projects in the
works that will capitalize on these developments and
believe they will create
significant company growth and
shareholder value,"
commented
Michael Lajtay,
President and interim CEO.
About
UA Multimedia, Inc.
UA
Multimedia, Inc. is a solution provider
of cannabis ancillary products and services and crypto
technology.
The
Company currently own and maintains MJCircle.com, a classified ads
portal and Cannaxa.com, a service finder portal.
Company
website: http://www.uammedia.com
Cannabis
classified ads
website:
http://www.mjcircle.com
Cannabis service
finder website: http://www.cannaxa.com
Facebook:
https://www.facebook.com/uammedia, https://www.facebook.com/mjcircleads,
https://www.facebook.com/cannaxa, https://www.facebook.com/cannamedi
Twitter:
https://twitter.com/MJCircleAds, https://twitter.com/cannaxa
Forward Looking
Statements:
This
release contains forward-looking statements within the meaning of
Section 27a of the Securities Act of 1933, as amended and section
21e of the Securities and Exchange Act of 1934, as amended. Those
statements include the intent, belief or current expectations of
the company and its management team. Some or all of the events or
results anticipated by these forward-looking statements may not
occur. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking
statements as a result of various factors. Accomplishing the
strategy described herein is significantly dependent upon numerous
factors, many that are not in management's control. UA Multimedia,
Inc. does not undertake any duty nor does it intend to update the
results of these forward-looking statements.
Contact
UA
Multimedia, Inc.
Investor
Relations
949.612.1927
info@uammedia.com