DALLAS, TX / ACCESSWIRE / August 11, 2016 / North American Cannabis Holdings, Inc. (USMJ) today announced a master licensing agreement for the State of Colorado. Rocky Mountain High Restaurant Group has entered into an agreement with North American Cannabis Holdings to operate North American's AmeriCanna Cafe fast casual concept restaurant in the State of Colorado. The agreement includes a $1 million first year inventory commitment.
In a first step toward developing a cannabis themed restaurant for the health conscious consumer, North American Cannabis Holdings last year in June of 2015 acquired a fitness cafe with a full breakfast, lunch and dinner menu. The operation of the acquired fitness cafe provided North American Cannabis Holdings with a platform for developing its AmeriCanna Cafe concept. The Company realized approximately $500,000 in sales over the previous 12 months from operating the restaurant.
North American Cannabis Holdings is now launching a campaign to franchise and license the AmeriCanna Cafe as a cannabis themed, fast casual concept to targeted multi-brand quick-serve restaurant operators.
Fast casual restaurants are a hybrid of fast food and casual dining restaurants. Fast casual restaurants provide fresher, higher quality and often more health conscious food items than a typical quick-serve restaurant while still appealing to a relatively "fast" dining experience mentality. Example fast casual restaurants include Chipotle Mexican Grill, Panera Bread, Shake Shack, Habit Grill, Fiesta Restaurant Group, Noodles & Co, Zoe's Kitchen, and Potbelly – all publicly traded. The fast casual segment makes up over $20 billion of the $580 billion restaurant sector.
Rocky Mountain High Restaurant Group is a new family owned restaurant operator founded on generations of restaurant, commercial catering and grocery store experience. The new venture is targeting restaurant concepts with a healthy cannabis theme.
About North American Cannabis Holdings, Inc.
North American Cannabis Holdings, Inc. (USMJ) is founded on the core belief that cannabis makes people's lives better. Cannabis can fight disease, improve wellness and do so in an environmentally sustainable manner. North American Cannabis Holdings is dedicated to finding the best possible applications for cannabis to serve consumers. For more information please visit http://www.growusmj.com.
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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, among 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.
SOURCE: North American Cannabis Holdings, Inc.