(TheNewswire)
V A N C O U V ER, B C – TheNewswire - August 10, 2021 –CannAmerica Brands Corp. (CSE:CANA) (OTC:CNNXF) (CNSX:CANA.CN) (" CannAmerica " orthe " Company ") announces that further to theCompany’s news release dated July 23, 2021, the Company’sapplication the British Columbia Securities Commission (the" BCSC "), the Company’s principal regulator, for acustomary management cease trade order (" MCTO "), underNational Policy 12-203 – Management Cease Trade Orders (" NP12-203 ") has been granted. The MCTO wasissued by the BCSC, effective as of August 6, 2021, in connectionwith the delay by the Company in filing the annual financialstatements, management's discussion and analysis and related officercertifications for the financial year ended March 31, 2021(collectively, the " Annual Filings ").
The Company continues to work closely with the auditorsand expects to file the Annual Filings as soon as they are available,but in any event no later than September 28, 2021. The Company willissue a news release once the Annual Filings have been filed.
The Company is providing this status update inaccordance with NP 12-203. The Company intends to follow theprovisions of the Alternative Information Guidelines set out in NP12-203, including the issuance of bi-weekly default status reports inthe form of news releases, for as long as the Company remains indefault. The Company confirms as of the date of this news release thatthere has been no material change in the information contained in thedefault announcement issued July 23, 2021 and there is no othermaterial information concerning the affairs of the Company that hasnot been generally disclosed.
A bou t CannAmerica Brands Corp.
CannAmerica is a U.S. marine 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 .
Contact: Dan Anglin,Chief Executive Officer and Director of CannAmerica BrandsCorp.
Phone: 720.648.4044
E m a il : info@cannamericabrands.com
Cautionary Note Regarding Forward-Looking Statements:This release includes certain statements and information that mayconstitute forward-looking information within the meaning ofapplicable Canadian securities laws. Forward-looking statements relateto future events or future performance and reflect the expectations orbeliefs of management of the Company regarding future events.Generally, forward-looking statements and information can beidentified by the use of forward-looking terminology such as "intends" or "anticipates",or variations of such words and phrases or statements that certainactions, events or results "may", "could","should", "would" or "occur". Thisinformation and these statements, referred to herein as"forward?looking statements", are not historical facts,are made as of the date of this news release and include withoutlimitation, statements regarding discussions of future plans,estimates and forecasts and statements as to management's expectationsand intentions with respect to, among other things, the ability of theCompany to file the Annual Filings within the time period describedherein.
These forward?looking statements involve numerousrisks and uncertainties and actual results might differ materiallyfrom results suggested in any forward-looking statements. These risksand uncertainties include, among other things: the Company beingunable to file the Annual Filings in the proposed timeframe.
In making the forward looking statements in this newsrelease, the Company has applied several material assumptions,including without limitation, that: the Company will be able to filethe Annual Filings in the proposed time frame.
Although management of the Company has attempted toidentify important factors that could cause actual results to differmaterially from those contained in forward-looking statements orforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements and forward-lookinginformation. Readers are cautioned that reliance on such informationmay not be appropriate for other purposes. The Company does notundertake to update any forward-looking statement, forward-lookinginformation or financial out-look that are incorporated by referenceherein, except in accordance with applicable securities laws. We seeksafe harbor.
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