According to a message to shareholders from the CEO of North American Cannabis Holdings, Inc. (OTC:USMJ) released today, the month ahead should be transaction-packed. Steven Rash's message to shareholders had a few main points that we wanted to break down for our readers:
USMJ previously entered into a joint venture agreement with NaturesComfortMeds. Following the patent of the joint venture's cannabis extraction technology, USMJ spun off this joint venture into Puration, Inc. (OTC:PURA). USMJ has initiated a dividend issuance of PURA shares to the stockholders of USMJ. Beyond Puration, there was one more company mentioned in the shareholder update.
Alternet Systems, Inc.
The other much anticipated spin-off / dividend transaction for shareholders of USMJ to look forward to this month is regarding Alternet Systems, Inc. (ALYI). USMJ and ALYI signed a letter of intent back in the beginning of November whereby Alternet would acquire certain relevant North American Cannabis Holdings assets in exchange for stock in ALYI. These assets would be "intended to enable Alternet to introduce a cannabis retail payment system," according to their November release. In today's release, USMJ said to "look for an announcement on this strategic acquisition."
Beyond the two deals mentioned above, USMJ has "made substantial strides toward launching another standalone public operation independent of USMJ and generating yet another dividend opportunity for USMJ shareholders. Making December even more event-filled, USMJ anticipates announcing a third spin-off and dividend transaction in addition to the PURA and ALYI transactions, before the end of the year." Sounds to us like there is a lot to look out for this month!
We will be keeping investors posted on these spin-offs as the month progresses. For more information and recent coverage on USMJ, be sure to check out North American Cannabis Holdings' stock profile in our marijuana stocks database. For USMJ's release announcing the update, click here.