keeping/holding;interesting article;
December 10, 2018 -- InvestorsHub NewsWire -- North American Cannabis Holdings, Inc. (USOTC: USMJ) (“USMJ”) today released a letter from its CEO and Chairman discussing the potential for the overall cannabis industry to be realized from the 2018 Farm Act that includes, as drafted, the legalization of hemp farming. The letter is intended for all with an interest in the U.S. cannabis industry and specifically for those invested in any of the USMJ family of companies. Steven Rash, CEO and Chairman of USMJ is also one of its founders. USMJ entered the U.S. cannabis sector in 2013 with an entrepreneurial strategy to explore and investigate cannabis enterprise opportunities. Over the last five years, that entrepreneurial strategy has turned into five public companies, one very profitable dividend payout, two pending dividend payouts, a leading CBD infused beverage, a concept cannabis themed restaurant, a recognized cannabis industry brand name (USMJ), a patent for cannabis extraction, a revenue producing facility for cannabis cultivation, and over a dozen additional incubating cannabis enterprise ventures. The shareholders of USMJ as well as the shareholders of Puration (USOTC: PURA), Priority Aviation, (USOTC: PJET), Nouveau (USOTC: NOUV), and Kali, (USOTC: KALY) will be particularly interested in Mr. Rash’s letter.
The spinoff announced today has been affected through the execution of a securities exchange agreement between USMJ and Priority Aviation (USOTC: PJET) (“PJET”). USMJ has sold its AmeriCanna Cafe business in exchange for a convertible purchase note issued by PJET. Neither USMJ nor PJET are executing a reverse split in conjunction with this transaction. USMJ and PJET do plan to promptly convert the $1.5 million note into a number of common PJET shares sufficient to issue one PJET common share for every fifty shares of USMJ common shares issued and outstanding. All of the PJET common shares issued in conversion of the purchase note are slated for distributed to USMJ shareholders in a dividend distribution
