USMJ - North American Cannabis Holdings eCommerce Platform To Launch Before 2019
December 24 2018 - 8:35AM
InvestorsHub NewsWire
By ME Staff -- December 24,
2018
The new year is around the corner and
North American Cannabis Holdings, Inc. (USOTC:USMJ) has
big plans. A recent press release reveals that
the cannabis firm will have what they call the “Amazon of Cannabis”
online by end of December. Much of the site’s crucial features are
in place, though we have yet to see if it will actually live up to
its lofty comparison.
According to the news release, the eCommerce site has the
payment engine ready for work. Interestingly, it already offered a
sneak peek into what customers should expect. However, the site
will require a nod from relevant legal agencies to start
operations.
‘North American Cannabis Platform Hopes to be “Amazon of
Cannabis”
Particularly, USMJ intends to make the eCommerce site into a
one-stop shop for all cannabis related products. Also, customers
will access important information regarding the latest trends in
the cannabis sector. This will also double up as an educational
portal for cannabis information related to usage and other medical
issues.
According to the issued statement, USMJ already has products
ready in its warehouse. The products will range from those
targeting human consumers to pets. As such, customers will be able
to access all product definitions from the comfort of their own
homes.
By the end of the next calendar year, USMJ expects to be raking
in $10 million in sales a year. Time will tell if this is wishful
thinking or realistic. To launch the stage towards financial
efficiency, the company spun off a subsidiary to focus more on the
new platform.
Divesting From AmeriCanna
An official statement reveals
that USMJ will divest from AmeriCanna Café business to a buyer,
Priority Aviation. As a result, USMJ will issue Priority Aviation’s
common stock to its shareholders. The distribution of the common
stock will be part of a dividend distribution plan.
The new developments are the initial steps towards a strategy
USMJ intends to achieve in the coming years. In a letter to shareholders, USMJ’s
management said the Farm Act of 2018 will boost cannabis
business.
According to the later, legalization of hemp will further
enhance the size of the cannabis market. “The legalization of hemp
farming will bring a sweeping and comprehensive impact to numerous
industries to include farming, pharmaceuticals, construction, and
energy – to name only a very few,” the letter reads in part.
See Original Article: https://marketexclusive.com/north-american-cannabis-holdings-ecommerce-platform-to-launch-before-2019/2018/12/
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