It was today that Puration Inc (OTCMKTS:PURA) and North American Cannabis Holdings Inc (OTCMKTS:USMJ) disclosed details regarding a major strategic update involving two spinoffs and two dividend distributions of spinoff stock. Sources indicate that one was to the shareholders of PURA whereas the other was to shareholders of USMJ.
Planning for the future
The strategic update has much to do with leveraging on the latest successes of the company, one being the AmeriCanna Cafe and the other being the EVERx CBD Infused Sports Water. The company has its eye peeled on ways to boost momentum behind new cannabis ecommerce and cultivation businesses.
It was in 2013 that North American Cannabis Holdings, Inc made its entry in the cannabis sector and that was with an incubator business model. A person well conversant with the matter outlined that the business guru took to experimenting with several cannabis related business endeavors to include extraction, cultivation, retail, specific health applications and the wide range of infused consumer products.
He added that the extraction operation had with the passage of time advanced to become a spinoff, eventually being sold to Puration, Inc in a sort of transaction that entailed the issuance of PURA stock in a dividend distribution to the various USMJ shareholders.
At this point, ACI Conglomerated (ACI) is continues in its efforts to enter the wide range of the cannabis related sectors where specific endeavors continue gaining traction.
USMJ Management in a recent statement outlined that it was working on a strategy that would see it gain entry into a new line of business that is in alignment with USMJ’s history. ACI has made a pronouncement regarding its move to strike a deal that will see it acquire control of an existing public company that is currently in the cannabis sector.
After the move, it will take to the sale of its AmeriCanna Cafe restaurant operations in which case it will obtain stock in the recently acquired company. It intends top issue that to its large number of shareholders.
Shortly after Puration, Inc and North American Cannabis Holdings, Inc announced their plan to expand into the global legal cannabis market, several market observers showed their great support saying that it was a great idea. It is a market that is projected to hit the $57 billion mark in terms of the annual revenues over a timeframe of about ten years.