North American Cannabis Holdings Inc (USMJ)

[Lloyd Cannabinoid]

USMJ and PURA Confirm Respective Dividend Distribution Commitments
Today 10:43 AM ET (GlobeNewswire)Print

via OTC PR WIRE -- North American Cannabis Holdings, Inc. (USOTC: USMJ) ("USMJ") and Puration Inc. (USOTC: PURA) ("PURA") today confirmed that their two separate dividend distributions plans, each in conjunction with recent, respective subsidiary operation sales, are still on track. USMJ and PURA are sister companies sharing the same majority shareholder, ACI Conglomerated. In the fourth quarter of 2018, USMJ sold its AmeriCanna Cafe Restaurant business to an independently listed public holding company as part of a strategy to support the restaurant business with a dedicated public equity. The independently listed public holding company is Priority Aviation (USOTC: PJET). The transaction between USMJ and PJET includes a name change for PJET and a dividend of PJET shares to USMJ shareholders. Similarly, PURA sold its cannabis cultivation subsidiary to Nouveau (USOTC: NOUV). The PURA and NOUV transaction also includes a dividend of NOUV shares to PURA shareholders. The execution of the dividends is taking longer than anticipated, but the plans have not changed. USMJ and PURA plan to release a joint shareholder update to be published online next Tuesday, March 19, 2019 providing more details on the current status and progress of the two dividend distributions.