Alternet Systems Inc (ALYI)

[ettan]

NEWS

North American Cannabis Holdings Highlights CNNMoney Before The Bell Feature As Emphasis On Potential Of Retail Payment System Deal With Alternet Systems

Accesswire AccesswireNovember 7, 2016
DALLAS, TX / ACCESSWIRE / November 7, 2016 / North American Cannabis Holdings, Inc. (USMJ) today highlighted a CNNMoney 'Before The Bell' feature by Minyoung Park that covers the various aspects of the upcoming election to include the potential legalization of recreational marijuana in five states and the legalization of medical marijuana in four more states. The CNNMoney feature emphasis that even in the best case legalization scenario that "there's a chance banks will push back on handling finances from marijuana businesses due to current federal banking laws." Such banking push back is seen by North American Cannabis Holdings as enhancing the retail cannabis payment system opportunity recently announced with Alternet Systems, Inc. (ALYI). The payment system to be introduced by the two companies is intended to provide cannabis vendors relief from the issues resulting from banking resistance.
Last week, North American Cannabis Holdings announced a Letter of Intent agreement with Alternet Systems. The agreement is a preliminary step toward a more comprehensive contract whereby Alternet would acquire from North American Cannabis Holdings select assets intended to enable Alternet to introduce a cannabis retail payment system. The intended comprehensive agreement between the two companies includes a contemplated dividend issuance of Alternet common stock to the shareholders of North American Cannabis Holdings.