USMJ Announces New York Adult Use Cannabis License

Rhea-AI Summary

North American Cannabis Holdings (OTC Pink: USMJ) has secured an adult-use cannabis cultivation license in New York, following a law passed in February that allows provisional licenses for existing hemp businesses. USMJ has a subsidiary that has been cultivating hemp for CBD for four years and received an invitation from the New York Office of Cannabis Management to apply for the license earlier this year. The company is now reassessing its business strategy alongside its sister company, Puration, Inc. (OTC Pink: PURA).

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• Secured adult-use cannabis cultivation license in New York.
• Existing subsidiary has four years of experience in hemp cultivation for CBD.

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• None.

Dallas, TX, Aug. 09, 2022 (GLOBE NEWSWIRE) -- North American Cannabis Holdings, Inc. (OTC Pink: USMJ) today announced securing an adult-use cannabis cultivation license in the State of New York.

In February of this year, 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 company announced in March of this year, that its subsidiary had received an invitation from the New York Office of Cannabis Management (OCM) to apply for the provisional adult-use cannabis license.  Today, USMJ announces that the license has been awarded.

In light of the license, USMJ and its sister company, Puration, Inc. (OTC Pink: PURA) are reviewing current business plans and exploring an update to the existing strategy of both companies.

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 recent development has USMJ announced?

USMJ announced that it has secured an adult-use cannabis cultivation license in New York.

How long has USMJ been involved in hemp cultivation?

USMJ's subsidiary has been growing hemp for CBD for the past four years.

What prompted the issuance of the cultivation license in New York?

A new law passed in February allows provisional marijuana cultivation licenses for existing hemp businesses.

What companies are reviewing their business plans after the license award?

USMJ and its sister company, Puration, Inc. are reviewing their current business strategies.