Chuma Holdings, Inc, formerly CannaMed Corp, is now provider of financing and support solutions to legal cannabis businesses. It has two wholly owned subsidiaries, 1849 Holdings, Inc and Cal-Westridge Corp. According to the company, it has worked with more than 500 marijuana dispensaries and production facilities.
The company was started in 2006 and it operated as XTOL Energy, Inc. It then became LAUD Resources, Inc, then MASS Petroleum, Inc. In April 2014, it changed to CannaMed Corporation, marking its entry into the cannabis industry. It soon discovered that there was a trademark conflict with another company named “Cannamed”, thus Chuma Holdings, Inc changed to its current name in August.
Most recently, Chuma Holdings trades in the OTC markets under the symbol CHUME, with a market value of USD 76.41 M.
The company’s solutions encompass many operations in the cannabis seed-to-sale chain. Among such solutions are funding, compliance, supply chain services, commercial build-out and equipment, and retail and dispensary services. The company also offers assistance in research and development, banking and payment processing, branding and marketing, and consumer product solutions.
Chuma Holdings’ subsidiary 1849 Holdings, Inc is the one offering turnkey support services. The second subsidiary, Cal-Westridge Corp, focuses on solutions like financing, equipment lending, and real estate. Cal-Westridge Corp is actually a subsidiary of 1849 Holdings, making it an indirect subsidiary of Chuma.
As of press time, Chuma Holdings does not directly handle the marijuana plant, but it has stated that it may own dispensaries and grow operations in the future. It is also aiming to expand its reach in its home state California as well as in other states where cannabis is legalized.
The top executives at Chuma Holdings, Inc include CEO Jordan Shapiro and CFO Paul Shively.
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