LOS ANGELES, CA--(Marketwired - Nov 13, 2015) - Chuma Holdings, Inc. (OTC:CHUM) ("Chuma" or "the Company") provides turnkey financing, support service solutions, and Chuma Certification to the legal marijuana industry. Chuma's experienced team provides "seed to sale" key business services including financing and compliance consulting.
The Company is pleased to announce that it has entered into a Services Agreement with Vertical Meds a service of KB Delivery Inc. Inc. a California Mutual Benefit corporation, not for profit, medical marijuana delivery service. Vertical Meds, a leader in meeting the needs of their client (patient) base is poised to become one of the first "state issued" license under the recently signed AB 266 legislation in California. Vertical Meds is particular about the products they provide through private label packaging and the vertical integration of products they have developed.
"The entire team at Vertical Meds is excited about the future here in California and as an industry leader, we've sought the assistance of an industry compliance leader in moving forward. Chuma has set the standard and we are ready to follow their lead," said General Manager, Peter Orozco. "Vertical Meds won't settle for second best in our products or consultants. We've chosen Chuma as our exclusive consultant for one reason. No one can match their experience in the industry."
Summary of Services Agreement
Under the Services Agreement, Chuma will perform advisory and consulting services in an effort help Vertical Meds to obtain two of the new state licenses as a delivery service and processor of concentrates.
Chuma will assist Vertical Meds in developing a general strategy for accomplishing its operational goals and objectives in the near and medium term.
As the time for state licensing approaches, with Chuma's assistance, Vertical Meds business requirements, financial status and the impact they will have in the market place.
In particular, Chuma will be reviewing the newly enacted legislation and refining Vertical Meds business structure and practices to meet the new legislation and assisting in the preparation of a licensing package.
Chuma will also facilitate Vertical Meds Certification for best business and regulatory practices. As part of the Certification process, Chuma will provide online payroll services, the filing of appropriate sales, tax returns, income tax returns, annual corporate filings, facilitate the payment of payroll tax returns, act as agent for process of service, and accounting services and utilization of Chuma's retained legal counsel.
"We're looking forward to working with Vertical Meds as California transitions into a new medical marijuana regulatory system. Vertical Meds is a leader in the delivery service arena and as such can meet the challenges faced by each MMJ provider by the newly enacted legislation," states Paul Shively, Chief Compliance Officer of Chuma. "We believe Chuma and Chuma Certification can and will allow Vertical Meds reach its full potential in the new world of California medical marijuana."
About Chuma Holdings Inc.
Chuma provides turnkey financing, services, and Chuma Certification for organizations in the rapidly evolving and growing legal cannabis industry. We provide "seed to sale" key business services including financing, compliance consulting, dispensary solutions, banking and payment processing solutions, and marketing and sales consulting. Chuma's experienced team has over thirty-five years combined experience in the lawfully organized cannabis industry in California, and we are currently generating revenue from existing financing and service solutions. We are planning on expanding throughout California and bringing our array of services to each new state that legalizes the use of cannabis. For more information, please visit www.chuma.us.
Safe Harbor Statement
This release contains "forward-looking statements" that include information related to future events and future financial and operating performance. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the ability of Chuma to secure appropriate funding to implement its business plan, the demand for Chuma's services, Chuma's ability to maintain customer and strategic business relationships, the regulation of legal cannabis on both state and federal levels, the impact of competitive products and pricing, growth in targeted markets, and other information that may be detailed from time-to- time in Chuma's filings with the United States Securities and Exchange Commission. Chuma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.