IRVINE, CA — (Marketwired) — 10/26/16 — (OTC: UAMM), a media company, announced today that due to weak results in the movie production business, the Company has appointed Thu Pham as acting CEO to oversee a shift in operations and guide the Company into the advantageous and thriving cannabis industry; just ahead of the November ballot, in anticipation of a substantial resulting increase in demand.
Mr. Pham brings to the table a fresh proactive approach that is expected to propel the Company–s entrance strategy into the market, develop industry relationships and revenues, and build a solid corporate foundation for growth. Among the Company–s primary milestones is the e-commerce conversion and launch of its newly revamped websites; and . The renovated sites will market and make available for purchase industry related merchandise respective to their sector. Cannaxa.com will be structured as a general online marketplace, while Cannamedi.com will revolve around the medicinal and CBD sector. The websites are slated to go live sometime in November.
According to a recent article in Huffington Post, “The end of the federal government–s War on Weed is approaching fast.” The article goes on to state: “No matter how the details work out, that much seems pretty clear at this point… When it happens, it will be the most significant governmental shift on a pointless and endless social –war– since the end of Prohibition. The only remaining questions are how the mechanics of the war–s end will work out, and how fast it–ll happen. But whether it ends with a bang or a whimper, that end is definitely now in sight.”
“This is a pivotal point in our effort to reorganize in preparation for future growth. We stand on the threshold of great developments, particularly with continually loosening legislation. We are designing our e-commerce sites to positively reflect our Company and build our brand in preparation for growth in the different segments of the Cannabis industry,” stated Thu Pham, CEO of UA Multimedia, Inc. He concluded: “We firmly believe that this market still has enormous potential, and have determined to grow with the momentum in this exciting trend.”
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.
Due to the Company–s transition, efforts continue as strategies solidify. The company plans to become current with OTC Markets in early January. Investors will be kept informed as these details are updated.
UA Multimedia, Inc., a media company, has entered the Cannabis industry with the anticipated launch of its upcoming newly revamped websites; and . The renovated sites will market and make available for purchase industry related merchandise respective to their sector. Cannaxa.com will be structured as a general online marketplace, while Cannamedi.com will revolve around the medicinal and CBD sector.
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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.
Contact
UA Multimedia, Inc.
Thu Pham
Investor Relations
949.612.1927
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