Puration Inc (OTCMKTS:PURA) and North American Cannabis Holdings Inc (OTCMKTS:USMJ) have scheduled a meeting of shareholders on May 31, 2018, to provide details of the dividend.
The shareholders of both the companies will be provided an update about the dividend at this conference. They will also get an update on the new developments in cannabis-themed restaurant business, cannabis infused beverage business and new cannabis cultivation ventures of both the firms.
An Update from Steven Rash, Chief Executive Officer of North American Cannabis Holdings Inc
According to Steven Rash, CEO, North American Cannabis Holdings Inc has acquired a number of assets in the cannabis sector since establishing a footprint in the year 2013 in cannabis space. It also has amassed a huge number of shareholders.
A party has approached the company with an interest to takeover experiences and assets. CEO said shareholders are a very important asset for the company. If the takeover transaction is successful, North American Cannabis Holdings will benefit in terms of capital and access to the future capital. The transaction will help to increase shareholder value.
Following the takeover transaction, the company will continue as a publicly traded business. However, the sister concern Puration Inc is exempted from the transaction.
Puration Inc Issues An Update on Cannabis Cultivation Business
Puration Inc has taken over First Choice Nursery in 2017 to increase the cannabis cultivation to 400 greenhouses from the current 25 greenhouses. The company has booked the first sales from the First Choice Nursery in Q1, 2018. It is also looking for an acquisition target to enter the legal recreational marijuana market in Canada. Puration is planning to complete the acquisition in April 2018.
The management of Puration has released a presentation explaining the progress of takeover in Canada and the First Choice Nursery.
It is not part of the takeover bid of its sister company North American Cannabis Holdings Inc. The company is pursuing the recreational marijuana operation in Canada. It is also focusing on recreational marijuana opportunity in the US where marijuana use is legalized. The company has mobilized funds to capitalize on the underserved and substantial sector in Canada.