DALLAS, Texas, November 16, 2017 /PRNewswire/ --
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Posted On: 11/16/2017 1:05:47 PM
DALLAS, Texas, November 16, 2017 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) today announced the company is in negotiations to acquire an established medical marijuana dispensary in Canada that has applied for a recreational license in conjunction with the nationwide legalization of recreational marijuana expected in Canada in July of 2018. The Canadian dispensary acquisition negotiations are related to the announcement yesterday by North American Cannabis Holdings sister company (both controlled by ACI Conglomerated), Puration, Inc. (PURA):
Puration To Introduce Cannabis Infused Beverages Into Legal $8 Billion Canadian Marijuana Market
"Nationwide recreational marijuana legalization in Canada is a major game changer within the cannabis sector," Said Steven Rash, CEO of both North American Cannabis Holdings, and ACI Conglomerated. "Any cannabis company developing a sector product or service offering should be looking to get into Canada. Operating in the piecemeal legal U.S. market is inherently inefficient, and such inefficiency is particularly costly in a startup scenario. Developing new products within the streamlined environment provided by nationwide legality is ideal. Succeeding with this acquisition is a high priority."
USMJ - 44% Revenue Growth With 50% Gross Margin
North American Cannabis Holdings recently released its annual financial report for the fiscal year end 2017. The company reported year to year revenue growth of 44% with revenue increasing from $515,000 in 2016 to $742,000. The company reported a gross margin of $408,000 reflecting a gross margin rate of over 50%.
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.
ACI, USMJ and PURA contact info:
Steven Rash
info@aciconglomerated.com
+1-800-861-1350
https://www.aciconglomerated.com/contact/
North American Cannabis Holdings, Inc. (USMJ) today announced the company is in negotiations to acquire an established medical marijuana dispensary in Canada that has applied for a recreational license in conjunction with the nationwide legalization of recreational marijuana expected in Canada in July of 2018. The Canadian dispensary acquisition negotiations are related to the announcement yesterday by North American Cannabis Holdings sister company (both controlled by ACI Conglomerated), Puration, Inc. (PURA):
Puration To Introduce Cannabis Infused Beverages Into Legal $8 Billion Canadian Marijuana Market
"Nationwide recreational marijuana legalization in Canada is a major game changer within the cannabis sector," Said Steven Rash, CEO of both North American Cannabis Holdings, and ACI Conglomerated. "Any cannabis company developing a sector product or service offering should be looking to get into Canada. Operating in the piecemeal legal U.S. market is inherently inefficient, and such inefficiency is particularly costly in a startup scenario. Developing new products within the streamlined environment provided by nationwide legality is ideal. Succeeding with this acquisition is a high priority."
USMJ - 44% Revenue Growth With 50% Gross Margin
North American Cannabis Holdings recently released its annual financial report for the fiscal year end 2017. The company reported year to year revenue growth of 44% with revenue increasing from $515,000 in 2016 to $742,000. The company reported a gross margin of $408,000 reflecting a gross margin rate of over 50%.
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.
ACI, USMJ and PURA contact info:
Steven Rash
info@aciconglomerated.com
+1-800-861-1350
https://www.aciconglomerated.com/contact/
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