American Cannabis Innovations Conglomerated to Acquire North American Cannabis Holdings and Puration
DALLAS, May 4, 2017 /PRNewswire/ --
American Cannabis Innovations Conglomerated ("ACI") has entered into a Letter of Intent to acquire the controlling interest in both North American Cannabis Holdings, Inc. (USOTC: USMJ) and Puration, Inc. (USOTC: PURA). ACI is a private equity backed rollup founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations. USMJ and PURA are the first of five acquisitions in the cannabis sector ACI plans to announce within the next 30 days. ACI is seeking to acquire early stage, undervalued businesses with intellectual properties validated by market tests, if not initial commercial or consumer sales. ACI expects to improve the operating efficiency of acquired assets by streaming redundant functions and leveraging complimentary functions. ACI expects the potential for market capitalizations of acquired companies to improve by transitioning the acquired companies toward better investment structures, with better terms, that are altogether better suited to their current and more mature stage of development. Existing USMJ and PURA management are expected to be included in the ACI management team. ACI, USMJ and PURA plan to finalize the acquisition of USMJ and PURA into ACI by the end of May.
"The opportunity for USMJ with ACI is huge," said Steven Rash, CEO of North American Cannabis Holdings. "ACI brings the type of quality backing that can rapidly accelerate USMJ's growth."
"Puration has had tremendous success with its recent EVERx launch and is ready to launch a dozen additional products under the EVERx brand," said Brian Shibley, CEO of Puration. "ACI is the answer to the product production costs required to launch the additional products. Watch out, here we come."
Learn More About USMJ: http://www.growusmj.com
Learn More About PURA: http://www.purationinc.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.
SOURCE North American Cannabis Holdings, Inc.