Amercanex, the American Cannabis Exchange (ACE), officially announced today that it has signed a Letter of Intent to acquire MJCharts.com for an undisclosed sum. ACE is the first fully electronic cannabis marketplace in which cultivators, wholesale distributors and retail vendors can buy and sell their inventories in a fully transparent intra-state market. MJCharts provides the most accurate daily regional consumer price indexes for over 10,000 strains of cannabis, hemp and cannabis-related industries throughout the U.S..
The Amercanex acquisition of MJCharts marks another first in the developing tradable Cannabis Industry, one that will help enable Amercanex to continue to expand its’ ACE Marketplace application reach that will include providing streaming live pricing and charting for Amercanex Transacting Members, as well as for over 12,000+ MT4 brokers worldwide.
“We are very excited to have the opportunity to acquire MJCharts. This acquisition is a major milestone for Amercanex as we continue to move closer to achieving another one of our goals – to be recognized as the Cannabis Industry’s gold standard for data warehousing and distribution for the global financial community,” said Steve Janjic, CEO of Amercanex.
“We believe this acquisition coupled with our disruptive technologies is a major first step of many to follow as we expand our company footprint into the world of Big Data that we believe will eventually result with Amercanex becoming the first global cannabis commodity exchange for speculators,” said Janjic.
According to a 2014 publication by Ernest & Young titled “Ready for Take Off”, Big Data technologies represent a disruptive innovation that market-leading businesses will use to drive competitive advantage. Seventy-nine percent of business “decision-makers” believe that big data will boost revenue. The value of big data lies in the insights that businesses can draw from it, rather than in the information itself.
“I am very pleased that MJCharts.com will be part of the Amercanex ACE Marketplace, and to be able to work closely with Steve Janjic to further realize the potential of our data collection technology. We know the importance of bringing together the current cannabis industry leaders with the greater business community as a means to establish cannabis as a legitimate commodity. We are eager to contribute to the effort to create a secure and fair cannabis marketplace.” said Noah J. Persin, CEO of Price Index Associates.