Dallas, TX -- October 24, 2016 -- InvestorsHub NewsWire
North American Cannabis Holdings, Inc. (USMJ) today previewed its next anticipated pilot project spinoff and dividend. The Company has been quietly working on a cannabis payment system pilot since the beginning of this year. The payment system pilot has been conducted in conjunction with another OTC Markets listed company. USMJ and the other OTC Markets company are planning to execute on a transaction similar to USMJ’s transaction with Puration, Inc. (PURA) where USMJ shareholders are slated to receive stock in Puration through a dividend distribution.
Friday, October 21, 2016 was a shareholder of record date for the first dividend to be issued in conjunction with the USMJ's cannabis enterprise business development model.
Shareholders as at close of business on Friday (determined on T+3 settlement sate) will be eligible to receive the first dividend to be issued in conjunction with the Company's cannabis enterprise business development model.
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.
Puration is a model for the future of North American Cannabis Holdings with future PURA-like spinoffs and dividends to come.
Review USMJ’s recent CEO update published last week to learn more about the Company’s strategy going forward and performance to cate having recently reporting 23% annual revenue growth
North American Cannabis Holdings, Inc. CEO Update
Thank you Wilson-castaway.....I am so Happy ')
I was sleepy and over slept this was awesome
to wake up to ')
