North American Cannabis Holdings Announces Alternet Systems Closing Scheduled December 20, 2016

DALLAS, TX / ACCESSWIRE / December 13, 2016 / North American Cannabis Holdings, Inc. (OTC PINK: USMJ) today announced that it has scheduled to close on the acquisition of a controlling interest in Alternet Systems, Inc. (ALYI) next week on December 20, 2016. The two Companies have been working together since the beginning of the year on a retail cannabis payment system pilot. In conjunction with the acquisition anticipated to close next week, Alternet will begin to commercialize a cannabis retail payment system. Similar to the dividend USMJ shareholders received in conjunction with USMJ’s acquisition of a controlling interest in Puration, Inc. (PURA), the anticipated transaction between USMJ and ALYI includes a plan to issue ALYI common stock to USMJ shareholders through a dividend distribution.

USMJ entered the cannabis sector in 2013 with a strategy to pilot various cannabis sector enterprises. The Company planned to facilitate the financing necessary to expand successful pilot projects by spinning graduating projects off into standalone public companies. The first spinoff was executed last year when PURA acquired graduating pilot project assets from USMJ in exchange for PURA preferred stock. A portion of the PURA preferred stock was designated for conversion into common stock and issuance to USMJ shareholders. On October 25th, USMJ announced entering discussions with ALYI on a deal that could lead to a second spinoff and dividend for North American Cannabis Holdings shareholders.

To learn more about North American Cannabis Holdings: www.growusmj.com

Follow the Company on Twitter: twitter.com/US_HEMP

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company’s actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.

USMJ Contact:

Steven Rash

Phone: +1-972-528-0162

SOURCE: North American Cannabis Holdings

ReleaseID: 450966