Acquired! North American Cannabis Holdings, Inc. (USOTC:USMJ) and Puration Inc (OTCMKTS:PURA)

Puration Inc (OTCMKTS:PURA)North American Cannabis Holdings, Inc. (USOTC:USMJ)

Puration Inc (OTCMKTS:PURA) has entered into a letter-of-intent (LOI) to sell controlling interest to American Cannabis Innovations Conglomerated (ACI). Included in the press release was also the news that ACI will be acquiring controlling interest of North American Cannabis Holdings, Inc. (USOTC:USMJ). ACI is a private-equity backed company founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations all under one roof. North American Cannabis Holdings, Inc. (USOTC:USMJ) and Puration Inc (OTCMKTS:PURA)  are the first cannabis-sector acquisitions ACI plans to announce in the next 30 days.  Reports claim that there may be as many as three more in the pipeline. ACI is seeking to acquire early-stage, undervalued businesses with market-validated intellectual properties validated by market tests.  ACI expects to improve the acquisition’s operating efficiency by eliminating redundant functions, leveraging complimentary functions, and obtaining better financial terms than currently exist.

Existing North American Cannabis Holdings, Inc. (USOTC:USMJ) and Puration Inc (OTCMKTS:PURA) management are expected to continue in their current responsibilities. Final shareholder approval of the deals is to be completed by the end of this month.

Interestingly, Puration Inc (OTCMKTS:PURA) acquired some operating assets from North American Cannabis Holdings, Inc. (USOTC:USMJ) in July of 2016. Puration then proceeded to develop processes that would result in high-quality cannabinoid concentrates targeting the social user and health and wellness sector.

North American Cannabis Holdings, Inc. (USOTC:USMJ), in 2013, began its operations in the cannabis sector through a subsidiary named The American Seed & Oil Company. This company was formed to explore commercial opportunities in the legal cannabis sector. More recently, North American Cannabis Holdings, Inc. (USOTC:USMJ) introduced the AmeriCanna Café, a destination beverage company  featuring cannabis infused beverages. The company al;ready markets a cannabis infused “shot” branded “DuBe Hemp Energy”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance