DALLAS, June 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- North American Cannabis Holdings, Inc. (USMJ) has issued an update on its plans with West Coast Venture Group, Corp.
WCVC is the owner and operator of Illegal Burger operating in cannabis-friendly Colorado and introducing their very own cannabis-infused menu. WCVC is a fully reporting company with audited financials reporting over $3 million in annual revenue. Based on a recent analysis published by WCVC, on conventional market comparable valuations, WCVC can support a $0.20 PPS.
USMJ has piloted a concept restaurant called The AmeriCanna Cafe. In a strategy to expand the pilot, USMJ spun the AmeriCanna Cafe off into an independently listed company, Priority Aviation, Inc. In accordance with the spinoff deal, PJET is undergoing a name change in conjunction with its new business direction. Simultaneously, with the spinoff, USMJ entered into a partnership with WCVC to advance the AmeriCanna Cafe restaurant initiative. Based on WCVC’s momentum stemming from WCVC’s management expertise in the restaurant industry, USMJ and PJET management plan to give WCVC increased authority on the overall AmeriCanna Cafe initiative. USMJ will provide logistics services and PJET will work primarily as an investor on the AmeriCanna Cafe initiative.