DENVER, Colorado, October 23, 2018 /PRNewswire/ — West Coast Ventures Group Corp. (OTCQB: WCVC) and the AmeriCanna Cafe today announced entering into an agreement to rollout a pilot cannabis-themed restaurant in Colorado.
West Coast Ventures Group Corp. (WCVC) develops, owns and operates two contemporary restaurant concepts: Illegal Burger, a quick-casual burger + bar concept, and El Señor Sol, a full-service fresh Mexican restaurant (5 restaurants in the Denver Colorado area). Led by seasoned restaurant entrepreneurs, WCVC management is committed to scaling both modern sustainable concepts into national franchise models operating metro-styled restaurants serving only the finest and freshest natural ingredients. The Company generates gross annual sales of $2,725,000.
AmeriCanna Cafe is a concept restaurant business subsidiary of North American Cannabis Holdings (USOTC: USMJ) slated for an imminent spinoff. The spinoff is being affected by the sale of AmeriCanna Cafe to an independently listed public company yet to be disclosed. The spinoff transaction includes a planned issuance of stock in the independently listed public company to the shareholders of North American Cannabis Holdings in a dividend distribution.
In conjunction with the agreement announced today, Illegal Burger, a subsidiary of West Coast Ventures will partner with AmeriCanna Cafe to pilot a cannabis-themed restaurant in Colorado. The pilot will be launched in the form of a food truck featured in pop-up venues near a series of recreational marijuana dispensaries in Colorado. The pilot rollout is scheduled to start in the spring of 2019.
The initial agreement between Illegal Burger and AmeriCanna Cafe does not include any exchange of equity between the two companies or their respective parent companies. Management of both companies indicates a future equity exchange is possible.
For more information on North American Cannabis Holdings and AmeriCanna Café:
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 West Coast Ventures Group Corp. & North American Cannabis Holdings