(TheNewswire)
VANCOUVER, February 04, 2021 – TheNewswire - CANNAMERICA BRANDS CORP. ("CannAmericaBrands" or the "Company") (CSE:CANA) (OTC:NNXF) is pleased to provide the Company’s shareholders witha corporate update from the Dan Anglin, the founder and ChiefExecutive Officer of CannAmerica Brands.
Due to the extensive efforts the Company undertooktowards the close of 2020 to revitalize the Company’s existingmarkets with new products, CannAmerica Brands is seeing the fruits ofthese efforts being realized and positive momentum through the firstmonth of 2021. In the last year, the Company hasfocused on restructuring CannAmerica Brand’s business model tocreate opportunities for recurring revenue generation throughlicensing the Company’s technology to companies with licensedcannabis operations but no mechanism for creating edible products.This new focus allows the Company to license CannAmerica Brand’sproprietary equipment and procedures for a fee and lease payments, aswell as offering the Company’s supply chain of substrates,ingredients and packaging to enable the licensees to create their ownbrands.
Despite the global economic downturn resulting from thepandemic that started in first quarter of 2020, the Company focusedCannAmerica Brand’s efforts on operational restructuring, creatingnew business opportunities through new licensing models, expanded theCompany’s focus into the national hemp marketplace and created newproduct lines to expand the reach of its brands in multiplemarkets.
Revenue generation declined during the FY 2020 due tothe Company offering extended terms to all of CannAmerica Brand’sclients for licensing fees and supply chain costs. The decision toallow licensees to defer payments of fees allowed for the Company’sbranded products to remain in distribution in all three of theCompany’s operating markets and established solid relationshipsbetween the Company and the licensees. CannAmerica Brand’s was ableto offer the extended terms to licensees as the Company’s overheadconsists primarily of supply chain costs.
The Company’s decision to make product marketinginvestments and diversify into the hemp market has greatly increasedthe opportunities for revenue generation in the first quarter of 2021,with the trend likely to continue with new product releases in boththe Company’s cannabis and hemp markets in first and second quartersof 2021.
The Company is now well positioned for substantialgrowth in sales and market share and is increasingly focused oncreating new business opportunities through expansion of CannAmericaBrands business model and identifying opportunities for acquiringownership of licensed cannabis and hemp operations across the UnitedStates.
The Company’s achievements in the last yearinclude:
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-Licensing of the Company’s proprietary technology,processes and branding to VIII Brands, LLC., a privately held hempproduct manufacturer based in Colorado.
-Licensing of the Company’s proprietary technology,processes and supply chain to Leaf & Mark, a privately heldCanadian manufacturer of cannabis products working in a Health Canadalicensed facility located in Alberta, Canada.
-Licensing of the Company’s proprietary technology,processing and branding to Arsenal Oils and Extracts, a privately heldlicensed cannabis manufacturer of infused products, located in Aurora,Colorado.
-Expanded product lines in Oklahoma and Colorado toinclude genome specific and strain specific products in the ediblesmarketplace in both states.
-The Company entered into a consulting agreement toassist an applicant for two of six a cannabis cultivation, productionand distribution licenses in the state of Georgia. The applicantsubmitted both Tier 1 and Tier 2 license applications which are basedon size. This agreement includes a provision for the Company topartner with the applicant for production of a cannabis oil basedproduct if the applicant is awarded a license.
-An increase in sales and market share of theCompany’s branded products in both Colorado and Oklahoma in thefourth quarter of 2020.
-The Company restructured and streamlined managementand the Board of Directors for an operational and sales focus, in aneffort to concentrate on revenue generation in the states withCannAmerica Brand’s products.
-The Company has created a new line of edible productsscheduled for introduction into the cannabis market in the first andsecond quarters of 2021.
-The Company is creating new products and branddevelopments for the launch of multiple verticals of productsofferings in the US national hemp marketplace starting in March 2021.Lines and brands include:
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-Hemp Crave – a line of multiple CBD infused edibleproducts in various hemp-based cannabinoid formulations including CBDin multiple dosing offering and cannabinoid blends of CBD, CBN, CBGand more. The first products, scheduled to launch with partners VIIIBrands in March, 2021 through direct-to-consumer online sales,wholesale and delivery to distributers and retailers across the UnitedStates.
-Hemp Quench – a line of multiple CBD infusedbeverages with natural flavors and fast acting emulsifiers fordistribution through direct-to-consumer online sales, wholesale anddelivery to distributors and retailers across the UnitedStates.
-Hemp Soothe - a line of multiple CBD-enhancedtopicals, including :
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-Beauty creams;
-Joint relief creams;
-Body butters;
-Salves;
-A complete line of tattoo focused CBD products for useboth by artists during the tattoo process to provide lubrication forthe tattoo and relief for the client, as well as products for thehealing process and care of the tattoo after healing andrevitalization products for caring for older tattoos; and
-Currently developing hemp-based CBD products forsunscreen protection for tattoos.
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-Secured terms for CannAmerica Brand’s supply chainof equipment, ingredients, substrate, and packaging, providingpurchasing power to increase support to the Company’slicensees.
-The Company has settled a historical debt through ashare issuance and continues to work with the Company’s lenders toresolve historical debts in 2021.
-The Company has signed a contract to become the firstpremier sponsor of the Okie Cup, a cannabis festival and competitionhosted by Champlin Broadcasting, owner of 11 radio stations acrossOklahoma. This sponsorship allows the Company’s branded products tobe featured in promotional marketing on all eleven of Champlin’sradio stations, with a variety of genres for a total of 99 days. TheCompany anticipates the exposure it will receive from this sponsorshipwill catapult sales and brand recognition across the state ofOklahoma.
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The Company also intends to expand the management teamand operations in 2021 by attracting professionals and experts, withdemonstrated credibility, in the cannabis and hemp-based markets. TheBoard of Directors of the Company are now focused on attractingsuitable candidates, with national cannabis retail expertise, for aposition on the board to expand the Company’s supply chain andincrease distribution of the Company’s branded products.
Mr. Anglin commented “As the founder of this Companyin 2015, I am extremely proud of the accomplishments of theCompany’s personnel. Together, we have created a top cannabisbrand, providing world class products into the cannabis market, whilefacing the challenges of becoming an issuer on the Canadian StockExchange, and the impacts of a global pandemic. While I served in theUnited States Marine Corps from 1988 to 1992, the mantra as Marineswas to ‘adapt and overcome’ to all challenges presented to us.”
“The Company’s management team and Board ofDirectors have faced many challenges and overcome them in the pastyear through pivoting at the right moment to create new businessopportunities; being focused on advocating for access for all personsto cannabis and hemp; creating opportunities for cannabis businessesto thrive through the Company’s efforts to guide legislation andrulemaking in multiple states and at the national level; focusing oncreating opportunities for everyone to have an opportunity to beinvolved in the cannabis industry by executing the Company’s missionto partner with minority and/or women owned or operated businesses(the Company’s current licensees in the United States are 100%minority and/or woman-owned or operated); increasing the Company’scredibility by pursuing international partnerships in Canada, Mexico,the United Kingdom and the European Union; and constantly focusing onwhat is best for CannAmerica Brand’s shareholders for the long-terminvestment focus. The Company continues to strive to make CannAmericaBrands a leading cannabis brand recognized and sought after byconsumers across the globe” stated Mr. Anglin.
For a more complete business and financial profile ofthe Company, please view the Company's website at www.cannamericabrands.com and documents posted under the Company’sprofile on www.sedar.com .
For further information please contact the Company atinfo@cannamericabrands.com.
On Behalf of the Board,
Dan Anglin
CEO and Director
www.cannamericaco.com
www.cannamericabrands.com
About CannAmerica Brands Corp.
CannAmerica is a U.S. Marine Corps veteran founded andoperated portfolio of cannabis brands with licensing agreements in thestates of Colorado, Nevada, Oklahoma, Massachusetts and the Country ofCanada. The Company aims to maximize the value of its brands byemploying strong brand management teams, marketing and licensing thebrands through various distribution channels, including dispensaries,wholesalers and distributors, in the United States andinternationally. The Company's core strategy is to enhance andmonetize the global reach of its existing brands, and to pursueadditional strategic acquisitions to grow the scope and diversity ofits brand portfolio. For more information, please visit www.cannamericabrands.com .
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Forward-LookingStatements
This news releasecontains "forward-looking information" within the meaning ofapplicable securities laws. All statements contained herein that arenot clearly historical in nature may constitute forward-lookinginformation. In some cases, forward-looking information can beidentified by words or phrases such as "may","will", "expect", "likely","should", "would", "plan","anticipate", "intend", "potential","proposed", "estimate", "believe" or thenegative of these terms, or other similar words, expressions andgrammatical variations thereof, or statements that certain events orconditions "may" or "will" happen, or bydiscussions of strategy.
Readers are cautionedto consider these and other factors, uncertainties and potentialevents carefully and not to put undue reliance on forward-lookinginformation. The forward-looking information contained herein is madeas of the date of this press release and is based on the beliefs,estimates, expectations and opinions of management on the date suchforward-looking information is made. The Company undertakes noobligation to update or revise any forward-looking information,whether as a result of new information, estimates or opinions, futureevents or results or otherwise or to explain any material differencebetween subsequent actual events and such forward-looking information,except as required by applicable law.
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