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USMJ Announces Initial Currency Offering Plans for Blockchain Secured Cryptocurrency Backed by Cannabis Securities
North American Cannabis Holdings, Inc. (USOTC: USMJ) commonly known as "
" today announced plans for an Initial Currency Offering (ICO) of a Blockchain Secured Cryptocurrency. USMJ recently acquired a financial system from Alternet Systems, Inc. (USOTC: ALYI). USMJ is a serial cannabis industry enterprise launch platform that has numerous cannabis businesses under development. USMJ notably launched Puration, Inc. (USTOC: PURA), a cannabis extraction company operating a U.S. patented extraction process, and the AmeriCanna Cafe generating over
in annual revenue for USMJ. The Company has been piloting a cannabis financial services business with ALYI's technology and now plans to introduce a cannabis sector specific Blockchain Secured Cryptocurrency through an ICO later this year. Â
USMJ plans to back the cannabis sector Cryptocurrency with a cannabis investment portfolio. The investment portfolio will be built in conjunction with the strategy behind the American Cannabis Innovations Conglomerated (ACI) recent acquisition of a controlling interest in USMJ. ACI is a private equity backed rollup founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations. USMJ is one of the first of five acquisitions in the cannabis sector ACI has planned for the near future. ACI is seeking to acquire early stage, undervalued businesses with intellectual properties validated by market tests, and commercial or consumer sales. ACI expects to accelerate the growth of acquired assets and improve the operating efficiency of acquired assets by improving access to investment, streamlining redundant functions and leveraging complimentary functions.
The cannabis securities backed Cryptocurrency strategy includes USMJ launching a Cannabis Social Media Site where cannabis entrepreneurs will be able to interact with potential investors, and where USMJ will from time to time make its own investments in entrepreneurial cannabis ventures toward a future independent listing and dividend of stock in the independent listing to USMJ shareholders.
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.
Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
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USMJ Announces Initial Currency Offering Plans for Blockchain Secured Cryptocurrency Backed by Cannabis Securities
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