North American Cannabis Holdings, Inc. (OTCMKTS:USMJ) Venture Into Cannabis Retail Payment System Industry
North American Cannabis Holdings, Inc. (OTCMKTS:USMJ) reported executing a deal with Alternet Systems, Inc. whereby the two firms will combine efforts and resources to launch and commercialize a retail payment setup for the cannabis industry. Forbes expects legal cannabis sales to come around $7 billion in 2016. A recent report indicated that legal cannabis yearly sales in expected to reach $50 billion in the subsequent ten years.
North American Cannabis and Alternet Systems are working together on a cannabis retail payment system since the start of this year. In this agreement, all resources and efforts will be consolidated under Alternet and the cannabis retail payment structure will be a service delivered by Alternet Systems. In lieu, North American get Alternet controlling preferred shares.
North American continuously pilot’s numerous cannabis sector initiatives. Pilots that prove encouraging, the firm spins-off into stand-alone companies in a contract that includes a dividend payout of stock in the stand-alone firm to the North American shareholders. The Alternet Systems deal reported will be the second spinoff and payout transaction North American has executed since venturing into the cannabis industry in 2013. Last year, the company entered into a similar contract with Puration, Inc. following which, Puration common stock was paid in dividend form to USMJ shareholders.
Alternet has an astounding record in developing groundbreaking financial services industry solutions. The company is led by an executives’ team specializing in entrepreneurial endeavors, corporate strategy, innovation, executive and financial management of multi-national firms, and a vast setup of industry resources. Alternet lately advanced a unique financial services offering which was successfully offered allowing the firm to realize a 47% ROI.
In the last trading session, the stock price of North American gained 25% to close the day at $0.00050. The gains came at a share volume of 978.89 million compared to average share volume of 71.93 million.© Copyright 2016 OTC News Magazine. All rights reserved.