NORTH AMERICAN CANNABIS HOLDINGS, INC (OTCMKTS:USMJ) reported its participation in the upcoming NCIA Cannabis Business Summit on June 29, 2015 in Denver, Colorado. U.S. Senator Rand Paul, the Presidential Candidate, intends to hold a reception at the expo next week.

Steven Rash, the CEO will welcome all people interested to participate in the private presentation of the Company’s “AmeriCanna Café” National Franchise launch plan. The concept of destination beverage business was launched last week. Later, North American previewed a pending acquisition important to the AmeriCanna business strategy expected to close prior to the Summit in Denver.

The update

Last week, the CEO of North American issued a letter to shareholders highlighting the developments expected in the next week. It was at the same time, the company reported about the strategic acquisition under process from last one year.

Mr. Rash mentioned that the new corporate name has been finalized to support the destination beverage business. The company introduced the banner of the North American Cannabis Holdings in this month itself.

The efforts

NORTH AMERICAN CANNABIS HOLDINGS, INC (OTCMKTS:USMJ) has been testing several Cannabis Businesses from last eighteen months. It decided to enter the Cannabis industry by experimenting with different business so that it learn about the potential pros and cons. The piloting program was planned to get hands on experience once they actually start the business. The operations still continue under the subsidiary American Seed & Oil Company. Out of the piloted business, the AmeriCanna Café is first, well-planned operation.

The AmeriCanna Café franchise and pending acquisition of beverage firm have been under development for more than a year. The pending acquisition is expected to support the expansion and growth of the recently announced The AmeriCanna Café destination beverage business.

In early morning trade on Friday, the stock price of USMJ was trading seep in red with losses of over 17%.