|By Marketwired .||
|January 12, 2017 08:30 AM EST|
IRVINE, CA -- (Marketwired) -- 01/12/17 -- UA Multimedia, Inc. (OTC: UAMM), issues a shareholder update on recent advancements, and how its emerging vision and corporate strategies continue to develop in anticipation of substantially increasing demands in the evolving cannabis marketplace.
Management is pleased to reveal the introduction of a turn-key modular indoor growing station, equipped with state-of-the-art lighting and an efficient nutrient delivery system. The station will be made in USA, and can be utilized for growing organic vegetables or medicinal cannabis. The system is expected to be available for purchase by the end of this quarter.
This segment of the Company's overall strategy is expected to launch with significant momentum, generating considerable revenues short-term. This anticipation comes from the substantial amount of interest already generated thus far from individual growers in California. Consequently, the development and pre-sale of the grow stations will take precedence, as priority of the Cannaxa and CannaMedi websites is temporarily lowered while the development effort continue to undergo refinement.
Among initiated corporate strategies is the imminent updating of filings with OTC Markets to achieve the "Current" status. Finalization is expected by the end of January. Management has also developed a strategy that will enable the Company to conduct business in a variety of sectors. To more accurately reflect the Company's new evolving core business model and support successful branding efforts, the Company will apply for a name and symbol change with FINRA.
As a part of the reorganization, the Company also plans to optimize the capital structure through the retirement of stock, in an effort to strengthen its capital foundation and enhance share value in preparation for future capital raising ventures and the potential of up-listing.
The size of the market for legal marijuana in the United States is projected to grow to $7.1 billion in 2016, according to a report by New Frontier and ArcView Market Research. That represents 26% growth over the previous year, driven largely by adult recreational sales of marijuana, according to research cited on Forbes.com website.
"We are excited about the recent industry development and our Company's prospect for 2017. Our goal is to successfully position the Company to capitalize on the burgeoning cannabis industry by offering practical and high demand products." stated Thu Pham, Chief Executive Officer. "We are actively executing the new business model and as advancement is realized, our shareholders will be promptly updated," added Pham.
About UA Multimedia, Inc.
UA Multimedia, Inc., a former media company, has entered the cannabis industry with the anticipated launch of its turn-key modular indoor growing systems. The Company also plans to introduce a range of cannabis based products and dietary supplements in the near future.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
UA Multimedia, Inc.
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