Published On: Wed, Jan 18th, 2017

North American Cannabis Holdings, Inc. (OTCMKTS:USMJ) Finalizes A Deal With Alternet Systems, Inc.

North American Cannabis Holdings, Inc. (OTCMKTS:USMJ) finalized a deal with Alternet Systems, Inc. whereby the two firms will combine efforts and resources to commercialize and release a retail payment setup for the cannabis industry. Forbes expects legal cannabis sales to come around $7 billion in 2016. As per the latest report from Bloomberg, legal cannabis yearly sales will touch $50 billion in the coming ten years.

The details

Alternet Systems and North American Cannabis have been planning together on a retail payment setup for the cannabis industry since the start of this year. In the reported deal, all resources and efforts will be consolidated under Alternet. The cannabis retail payment system will be offered by Alternet, while North American will get Alternet’s controlling preferred stock. A part of this preferred stock can be converted into Alternet common stock in the coming period. The converted stock will be planned for distribution to the North American shareholders in the form of dividend.

North American Cannabis continuously pilots different cannabis sector enterprises. The company spins-off pilots that prove promising into stand-alone public firms in a transaction that comprises a dividend payout of equity in the stand-alone public firm to its shareholders. The Alternet deal marks the second spinoff and payout deal the company has executed since venturing into the cannabis market in 2013. Last year, North American finalized a similar deal with Puration, Inc. Recently, Puration stock was paid in the form of dividend to North American shareholders.

Alternet has an impressive track record in advancing unique financial services industry software offerings. The firm is guided by a team of officials specializing in innovation, corporate strategy, entrepreneurial endeavors, executive and financial management of multi-national firms, and a massive network of industry resources. Alternet advanced an innovative financial services offering which was successfully sold enabling the firm to realize a 47% ROI.

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