SOURCE: Chuma Holdings Inc

October 19, 2015 11:11 ET

Chuma Holdings (OTCQB: CHUM) Signs Services Agreement With Oda Mae's Edibles

LOS ANGELES, CA--(Marketwired - Oct 19, 2015) - Chuma Holdings, Inc. (OTCQB: CHUM) ("Chuma" or "the Company") provides turnkey financing, support service solutions, and Chuma Certification to the legal marijuana industry. Chuma's experienced team provides "seed to sale" key business services including financing and compliance consulting.

The Company is pleased to announce that it has entered into a Services Agreement with Oda Mae's, a product of The Recovery Group, Inc., a California Mutual Benefit corporation, not for profit, developer of medical marijuana edibles. Their flagship product, "Uncle Fugley's" mints, are derived from lab tested and certified cannabis flower butter (or tincture), organic cane sugar, Ecuadorian chocolate, vanilla bean, and essential oils mixed with a lab tested cannabis oil. Additional products available include the "Like a Virgin" olive oil, and the Oda Mae's "Honey Pot." Each product package includes a recommended dosage and is packed full of non-cannabis flavor derived from the proprietary essential oils used in preparing the first gourmet connoisseur cannabis edibles product line.

"We're looking forward to working with Chuma to make sure all of Oda Mae's edible cannabis products are ready to market and able to comply with the new, statewide, medical marijuana regulations which are coming soon." Said Vice President of Product Development, Suzanne Taylor, "Oda Mae's is all about easy to use, delicious to taste, connoisseur cannabis edibles and we look forward to expanding throughout California. Chuma can help make that happen."

Summary of Services Agreement

Under the Services Agreement, Chuma will perform the advisory and consulting services in an effort help Oda Mae's reach the objectives of that organization.

Chuma will advise and assist Oda Mae's in developing a general strategy for accomplishing its operational goals and objectives in the near and medium term.

Chuma will work with Oda Mae's to develop and refine their business requirements, financial status, and projections of Oda Mae's sales in order to properly advise pricing models, membership programs, sales and marketing initiatives, and all other financially related matters.

In particular, Chuma will be examining HR policies, advising on the terms of financial relationships with banking and insurance institutions and assisting in negotiations of terms and conditions of contracts with service providers and vendors.

Chuma will also facilitate Oda Mae's Chuma Certification for best business and regulatory practices. As part of the Certification process, Chuma will provide online payroll services, the filing of appropriate sales, tax returns, income tax returns, annual corporate filings, facilitate the payment of payroll tax returns, act as agent for process of service, and accounting services and utilization of Chuma's retained legal counsel.

"We're looking forward to working with Oda Mae's as California transitions into a new medical marijuana regulatory system. Oda Mae's is a leader in the edibles sector and is poised for rapid growth," states Paul Shively, Chief Compliance Officer of Chuma. "We believe Chuma and Chuma Certification can and will allow Oda Mae's to reach its full potential in the new world of California medical marijuana."

About Chuma Holdings Inc.

Chuma provides turnkey financing, services, and Chuma Certification for organizations in the rapidly evolving and growing legal cannabis industry. We provide "seed to sale" key business services including financing, compliance consulting, dispensary solutions, banking and payment processing solutions, and marketing and sales consulting. Chuma's experienced team has over thirty-five years combined experience in the lawfully organized cannabis industry in California, and we are currently generating revenue from existing financing and service solutions. We are planning on expanding throughout California and bringing our array of services to each new state that legalizes the use of cannabis. For more information, please visit www.chuma.us.

Safe Harbor Statement

This release contains "forward-looking statements" that include information related to future events and future financial and operating performance. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the ability of Chuma to secure appropriate funding to implement its business plan, the demand for Chuma's services, Chuma's ability to maintain customer and strategic business relationships, the regulation of legal cannabis on both state and federal levels, the impact of competitive products and pricing, growth in targeted markets, and other information that may be detailed from time-to- time in Chuma's filings with the United States Securities and Exchange Commission. Chuma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact Information

    Paul Shively
    Chief Compliance Officer
    www.chuma.us
    800-841-6057