Dallas, Texas – November 25, 2019 — – North American Cannabis Holdings, Inc. (USOTC: USMJ) (“USMJ”) today confirmed a quarterly financial update scheduled to be published tomorrow, Tuesday, November 26, 2019. USMJ recently published its quarterly financial report for the period ending September 30, 2019 on the OTC Markets website. The update tomorrow will review details regarding the quarterly financial report and projected 2020 growth for the company’s eCommerce business introduced earlier this year.
USMJ reported twenty-eight percent (28%) revenue growth in the fiscal quarter ending September 30, 2019 compared to the same period in the previous year. The company’s current annualized revenue run rate is over a million dollars reporting $287,440 for the fiscal quarter ending September 30, 2019. The company reported a net profit of twenty-two (22%) at $62,087. Management reports that much of the growth comes from USMJ’s new eCommerce site, www.USMJ.com selling a variety of CBD products and cannabis essentials. Management plans to release a flurry of announcements coming soon on the expansion and evolution of USMJ’s eCommerce business.
Management also indicates that it has identified a major potential opportunity presented by the prevailing cannabis sector and has accordingly initiated a plan to seize the opportunity and that shareholders can expect to hear more about the initiative before the end of the year. The update next week will preview early details about the initiative.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
CEO North American Cannabis Holdings, Inc.