USMJ With KALY and WCVC Target Intersection of $16B CBD Sector and $9.5B Plant Based Protein Sector
DALLAS, June 28, 2019 /PRNewswire/ -- North American Cannabis Holdings, Inc. (USOTC: USMJ) ("USMJ") and Kali-Extracts (aka Kali, Inc.) (USOTC: KALY) ("KALY") today released a presentation on their plans to introduce a meatless hamburger infused with CBD in partnership with West Coast Venture Group, Corp. (WCVC) ("WCVC"). The full narrative of the presentation can be found below and the online presentation can be found at https://www.growusmj.com/meatless-cbd-burger.
CBD Infused Meatless Hamburger ROI Potential
WCVC is already a market recognized leader in healthy and holistic food. The company was named a Rising Star in the healthy and holistic market earlier this week and the same article suggested how Bloomin' Brands, Inc. (NASDAQ: BLMN) could catch up to WCVC. The healthy and holistic menu at WCVC's Illegal Burger Restaurants includes burgers made with all-natural beef that is never frozen and all if it is sourced from suppliers who use no antibiotics or growth hormones. Those seeking plant-based options are also well-served given that Illegal Burger's Vegan Burger won a Denver Top Ten Vegan Burger award. The company is well past start-up phase with over $3 million in annual sales.
WCVC is poised to capitalize on the plant based protein alternatives market that has recently caught investors' attention with the recent IPO of Beyond Meat (NASDAQ: BYND). Meatless burgers are in. While clearly already a leader in the healthy and holistic food sector, WCVC has one more differentiator to bring to the meatless hamburger sector.
Late last year WCVC entered into a partnership with USMJ. USMJ spun its cannabis themed restaurant off last fall to capitalize and expand the initiative in a partnership with WCVC. USMJ CEO Steven Rash currently serves as the CEO of both USMJ and the USMJ cannabis themed restaurant spinoff.
In turn, USMJ is partnering with KALY, the owner and operator of a US Patented Cannabis Extraction Process. KALY is currently utilizing its cannabis extraction expertise in the development of pharmaceutical products. While the introduction of pharmaceutical products is a long-term process, KALY is developing a number of more immediately commercial CBD extract products. Adding to the list of KALY extract products will be working with USMJ to develop a CBD infused plant based protein burger for introduction through USMJ's partnership with WCVC. The first CBD infused plant based protein burger is expected to be introduced later this summer.
Forbes reports that the CBD market is expected to reach $16 billion by 2025. At the same time, Mordor Intelligence expects the plant based protein market to reach $9 billion by 2024. The USMJ and KALY approach with WCVC is uniquely positioned to target the intersection of these tow multi-billion markets.
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.
SOURCE North American Cannabis Holdings, Inc.