USMJ $20 Million Marijuana and CBD Sales Growth Plans Update Scheduled For Tomorrow

Rhea-AI Summary

North American Cannabis Holdings (OTC Pink: USMJ) announced plans to potentially generate $20 million in additional sales through its growing e-commerce business and new opportunities in adult-use marijuana cultivation. USMJ has confirmed its eligibility to apply for a cultivation license in New York, following a law that allows existing hemp businesses to obtain provisional licenses. The company also relaunched the EVERx CBD Sports Nutrition Beverage at the Arnold Sports Festival, acquired as part of a royalty agreement with Puration, Inc. USMJ is dedicated to developing cannabis applications and expanding its consumer product offerings.

Positive

• Potential to generate an additional $20 million in sales over the next two years.
• Confirmed eligibility to apply for a provisional adult-use marijuana cultivation license in New York.
• Successful relaunch of the EVERx CBD Sports Nutrition Beverage.

Negative

• None.

Dallas, Texas, March 28, 2022 (GLOBE NEWSWIRE) -- North American Cannabis Holdings, Inc. (OTC Pink: USMJ) today confirmed the company is scheduled to publish an update tomorrow with details on the recently announced plans that could add $20 million in sales on top of the company’s growing sales from its expanding ecommerce business. 

The plan in general is to take advantage or the unexcepted opportunity to grow and sell adult use marijuana, in addition to also rapidly capturing the opportunity for USMJ’s recently acquired CBD sports nutrition beverage.

USMJ has recently confirmed its eligibility to apply for the new adult-use marijuana cultivation license recently passed into law in the State of New York.

In February, New York passed a new law to provide provisional marijuana cultivation licenses to existing hemp businesses. 

USMJ has a subsidiary that has been growing hemp for CBD for the past four years.  The subsidiary has received an invitation from the New York Office of Cannabis Management (OCM) to apply for the provisional adult-use cannabis license.

USMJ also recently relaunched the EVERx CBD Sports Nutrition Beverage after acquiring the product line from Puration, Inc. (OTC Pink: PURA) in exchange for a royalty agreement as part of an overall reorganization executed by the co-controlling parent company of USMJ, PURA and Priority Aviation, Inc. (OTC Pink: PJET).

The EVERx CBD Sports Nutrition Beverage relaunch took place at Arnold Schwarzenegger’s annual Arnold Sports Festival.

Between the EVERx and adult use marijuana opportunities, USMJ has developed a plan that it believes can generate a potential $20 million in sales over the next two years separate from the sales that can be generated from the company’s expanding ecommerce business.

USMJ is founded on the core belief that cannabis makes people's lives better. Cannabis can fight disease, improve wellness and do so in an environmentally sustainable manner. North American Cannabis Holdings is dedicated to finding the best possible applications for cannabis to serve consumers. The Company operates USMJ.com and is dedicated to Ongoing Cannabis Consumer Product Development that it can incubate into Future Spin-offs.

USMJ has one spin-off and dividend issuance so far in its cannabis incubation operational history having issued shares of Puration, Inc. (OTC Pink: PURA) in the past.  USMJ continues to work closely with PURA and recently acquired a CBD sports nutrition beverage product from PURA in a royalty agreement. The EVERx CBD Sports Nutrition Beverage acquired by USMJ is bottled by Alkame Holdings, Inc. (OTC Pink: ALKM).

Visit the company’s ecommerce site now and bookmark the site to watch for more coming announcements and updates: www.USMJ.com

Contact:
USMJ
Steven Rash
info@aciconglomerated.com
+1 (800) 861-1350

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 Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's 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.

FAQ

What are the new opportunities for USMJ in cannabis cultivation?

USMJ confirmed its eligibility to apply for a provisional adult-use marijuana cultivation license in New York, which presents significant growth opportunities.

How much additional revenue does USMJ expect to generate?

USMJ plans to generate an additional $20 million in sales from new opportunities alongside its growing e-commerce business.

What product did USMJ recently relaunch?

USMJ relaunched the EVERx CBD Sports Nutrition Beverage at the Arnold Sports Festival after acquiring it from Puration, Inc.

When did USMJ announce its plans for new cannabis initiatives?

USMJ announced its plans in a press release dated March 28, 2022.

What is the significance of the new law passed in New York for USMJ?

The new law allows existing hemp businesses to apply for provisional marijuana cultivation licenses, enabling USMJ to expand into adult-use cannabis sales.