Chuma Holdings, Inc. (CHUM) (Formerly CannaMed Corp.)

147618Chuma Holdings, Inc. is the new name of CannaMed Corp. Currently traded in the OTC markets under the symbol CHUM, it is a financing and support solutions provider serving businesses in the legal cannabis industry.

Solutions by Chuma Holdings cover the seed-to-sale operations of cannabis businesses like cultivators, dispensaries, and manufacturers. These solutions include funding, compliance, retail and dispensary services, commercial build-out and equipment, supply chain services, branding and marketing, banking and payment processing, research and development, and consumer product solutions.

The company has two wholly owned subsidiaries in the cannabis industry. One is 1849 Holdings, Inc, which offers turnkey support services. The other is Cal-Westridge Corp, which focuses on financing, real estate, and equipment lending. Cal-Westridge is a subsidiary of 1849 Holdings, Inc and is thus an indirect subsidiary of Chuma Holdings, Inc.

Though Chuma Holdings does not directly own, grow, or handle marijuana, it has stated the possibility of it owning dispensaries and growing operations. It is also expanding in California, where it is based, and in other states that have legalized cannabis.

Chuma Holdings, Inc started in 2006 as XTOL Energy, Inc. It changed its name to LAUD Resources, Inc and MASS Petroleum, Inc before becoming CannaMed Corporation as it entered the marijuana industry. However, a trademark conflict with a company named “Cannamed” prompted Chuma Holdings, Inc to change to its current name in August 2014.

Today, the company has a market value of USD 76.41 M. It is led by Jordan Shapiro, CEO, and Paul Shively, CFO, both of whom bring a combined 32 years’ worth of experience in the legal cannabis industry. The company has so far worked with more than 500 marijuana production facilities and dispensaries.

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