Dividend Payment Is A Milestone Event Validating Company’s Innovative Cannabis Sector Business Model
Dallas, TX – December 9, 2016 – North American Cannabis Holdings, Inc. (USMJ) today announced that it has finalized its recently declared dividend payment plan with the Financial Industry Regulatory Authority (FINRA). USMJ’s “Stock Dividend Payable In Another Security” was listed yesterday, December 8th, on FINRA’s Daily List of corporate action event’s for OTC securities. The FINRA site provides details regarding a December 12th, 2016 issuance of one common share of Puration, Inc. (PURA) stock for every 200 shares held of USMJ common stock (see insert below).
“We are excited about this milestone event here at USMJ,” said Steven Rash, CEO of North American Cannabis Holdings.” We want to thank all the shareholders that have stuck with us on this journey to explore and learn, and in turn build a promising new business model connecting cannabis industry entrepreneurs with shareholders and investors to continuously introduce brand new enterprise opportunities within a brand new and rapidly evolving new industry. While talk of dividends issued by small public companies is frequent, the actual issuance of dividends is not so frequent. The process for a small company is not trivial. Our own process has not been without turbulence and periodic doubts that the dividend issuance would ever be completed. So again, thank you to all you shareholders that stuck with us. We have more pilot projects in the works with more dividend opportunities, and we’ve got one now here under our belt to give us the experience to do more, and do so more smoothly. We also expect this first issuance to establish an increased degree of confidence in USMJ’s business model amongst the cannabis industry sector investment community.”
History of the PURA Stock Dividend
USMJ entered the cannabis sector in 2013 with a strategy to pilot various cannabis sector enterprises. The Company planned to facilitate the financing necessary to expand successful pilot projects by spinning graduating projects off into standalone public companies. The first spinoff was executed last year when Puration, Inc. (PURA) acquired graduating pilot project assets from USMJ in exchange for PURA preferred stock. A portion of the PURA preferred stock was designated for conversion into common stock and issuance to USMJ shareholders.
Future Stock Dividends To USMJ Shareholders
USMJ considers Puration as a model for the future of North American Cannabis Holdings with future PURA-like spinoffs and dividends to come. A second spinoff is in the works now.
On October 25th, USMJ announced entering discussions with Alternet Systems, Inc. (ALYI) on a deal that could lead to a second spinoff and dividend for North American Cannabis Holdings shareholders. The two Companies have been working together since the beginning of the year on a retail cannabis payment system pilot.
To learn more about North American Cannabis Holdings: www.growusmj.com
Follow the Company on Twitter: twitter.com/US_HEMP
This press 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 Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.