LOS ANGELES, CA–(Marketwired – Feb 20, 2015) – Chuma Holdings, Inc. (OTCQB: CHUM) (“Chuma” or “the Company”) is pleased to provide an update of current corporate activities and a letter to shareholders from our President, Kevin Wright.
- Revenues, return of capital, and redeployment of cash flow and earned funds into additional dispensary and cultivation contracts this quarter.
- Update on $10,000,000 USD Series B private placement.
- Engagement of Spencer Edwards.
- Key acquisitions, industry players and strategic partners.
President’s Letter to Shareholders
Dear Fellow Shareholders,
I have recently been appointed to the President position of Chuma, and as a shareholder myself, I want to take this opportunity to thank you for your decision to become an investor and for your support to date.
We are focused on developing hard assets in the medical marijuana sector in California. In June 2014, with our initial one million dollars in raised capital, we undertook and completed lending transactions and service contracts which have produced revenues. We anticipate being able to redeploy cash flow and earned funds into additional dispensary and cultivation contracts this quarter. This model has proved to be successful in California, and we look forward to expanding nationwide.
Medical marijuana is a rapidly growing industry in America. As more states legalize medical and recreational marijuana more opportunities for experienced, compliant businesses arise. What has been a clandestine, fringe activity is being brought into a legal, regulated environment. Change creates opportunity and we feel we are uniquely positioned to offer real business solutions and outstanding services and branding to an emerging multibillion dollar industry.
To continue to expand and take advantage of the market opportunities available to us in medical marijuana, we are continuing to work on our Series B private placement for 10 million dollars. We believe our business model will be recognized and valued by the market.
To this end, we were pleased to announce our engagement with Spencer Edwards on Friday 13, 2015. Spencer Edwards is a Denver, Colorado based FINRA Member Retail Broker-Dealer/Investment Banking firm specializing in small and mid-cap equities with an excellent track record in completing financings for cannabis industry participants who surpass their due diligence. Chuma is enthusiastic to have Spencer Edwards in our corner as we set out to meet our 2015 goals.
We are further developing projects and contracts, and look forward to introducing you to key industry players and strategic partners in the coming weeks. We are constantly adding world-class talent to the Chuma team. Specifically, suppliers, partners, and executives that share our mission, our values and our commitment to growth.
In this manner, in November of 2014, Chuma acquired Paul Shively and Associates Inc. (“PSA”), California’s leading corporate compliance and administrative services entity focused upon servicing the legal cannabis industry operating in California. Among other things, Paul Shively and Associates assists legal cannabis industry participants with bookkeeping, tax planning, payroll, human resources, and compliance services. PSA has assisted over 500 cannabis companies over the last seven years. This synergistic acquisition gave Chuma the experience and tools necessary to ensure the Chuma Certification brand delivered premium service and support to Chuma’s clients. Further, Chuma is able to leverage PSA’s large network within the California legal cannabis industry.
In January of 2015, Chuma acquired California Acquisitions Group, Inc. (“CAGI”). The individuals associated with CAGI have over 35 years of experience in the legal cannabis industry. CAGI focuses on providing services to the legal cannabis industry operating in California. Among other things, CAGI assists legal cannabis industry participants with finance, regulatory compliance and human resources. CAGI has its own clients and owns proprietary trade information. Examples include CAGI’s client database, intellectual property, and legal cannabis industry compliance materials. Further, several CAGI executives have joined Chuma’s executive, adding decades of legal cannabis industry experience to our team, and they are introducing Chuma to their longstanding business partners and opening doors to new lines of business.
On behalf of my fellow management team and partners, we believe Chuma’s intrinsic and book value will outperform our industry competitors in the coming years. We remain focused on what we do best, and the management team is firmly committed to growing the Company and delivering value for our customers, employees, partners and shareholders.
I’d like to express my sincere appreciation to all of my fellow shareholders for your commitment to Chuma. Thank you for your continued trust and confidence in our leadership.
Kevin Wright, President
About Chuma Holdings Inc.
Chuma and our wholly-owned subsidiaries provide turnkey financing and support solutions to the rapidly evolving and growing legal cannabis industry. We provide “seed to sale” key business services including financing, compliance consulting, dispensary solutions, banking and payment processing solutions, and marketing and sales consulting. Chuma’s experienced team has over thirty-five years combined experience in the lawfully organized cannabis industry in California, and we are currently generating revenue from existing financing and service solutions. We are planning on expanding throughout California and bringing our array of services to each new state that legalizes the use of cannabis. For more information, please visit www.chuma.us.
Safe Harbor Statement
This release contains “forward-looking statements” that include information related to future events and future financial and operating performance. The words “may”, “would”, “will”, “expect”, “estimate”, “can”, “believe”, “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the ability of Chuma to secure appropriate funding to implement its business plan, the demand for Chuma’s services, Chuma’s ability to maintain customer and strategic business relationships, the regulation of legal cannabis on both state and federal levels, the impact of competitive products and pricing, growth in targeted markets, and other information that may be detailed from time-to- time in Chuma’s filings with the United States Securities and Exchange Commission. Chuma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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