(TheNewswire)
VANCOUVER, BC – TheNewswire - December 15, 2020 - CANNAMERICA BRANDSCORP. ("CannAmerica" or the "Company") (CSE:CANA) (CNSX:CANA.CN) (OTC:CNNXF) ispleased to announce that on December 10, 2020, the Company has enteredinto a license application agreement with GA Bioscience Research Inc. (“GABRI”) (the “ Agreement ”), a Georgia company formed forthe purpose of obtaining a Cannabis licensure in the State of Georgia(the “ License ”). The License will allow GABRI to conduct businessoperations for the cultivation and manufacture of legal cannabisproducts for medical use. CannAmerica will be assisting GABRI byproviding the Company’s expertise for the license application and,if the license application is successful, providing services for thedesign, build, installation of equipment and launching the operations.
Terms of the Agreement include:
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- The initial term will be for the application windowwhich will expire on December 28, 2020;
- Upon successful issuance of a License to GABRI,CannAmerica will provide expertise for the build-out of the project,equipment set-up, and training in all areas of cannabis cultivation,processing and manufacturing for a six-month term.
- The Agreement will be extended on a month-to-monthbasis until complete if the project continues past the six-month term;and
- The Company has a right of first refusal to enterinto a separate licensing agreement with GABRI to bring theCompany’s branded products to the State of Georgia marketplace.
“The Company is extremely pleased to announce thisAgreement for the State of Georgia’s newly created medical cannabisprogram. The State of Georgia will only be issuing six licensesstatewide, therefore CannAmerica’s direct involvement with the GABRIlicense application is one of the biggest opportunities the Companyhas had for meaningful expansion since launching CannAmerica’sproducts in Oklahoma a year ago" said Dan Anglin, CEO andCo-Founder of the Company. Mr. Anglin continued “GABRI is veryfocused on providing medical patients with quality products and GABRIhas a vast amount of diversity in professional backgrounds andcultural experience in management, which has proven to be of greatimportance for states with limited licensing.”
Mr. Anglin continued, “Most exciting for theCompany’s management team is the focus on having United Statesmilitary veterans involved in ownership and executive management ofthe Company. As a veteran of the United States Marine Corps, I amconstantly seeking other military veterans to work within the cannabisindustry. The Company has been successful at finding good partners such as its Oklahoma licensee at TotalHerbal Care (US Army veteran) and the Company’s Colorado licensee atArsenal Extracts (US Air Force veteran). It’s extremely gratifyingto work with other veterans who are dedicated to supplying qualityproducts to medical patients and consumers.”
“ This Agreement continues the Company’splans for expansion at the end of a turbulent year. With the approvalfor cannabis legalization in various states in the recent election themomentum for cannabis expansion continues to grow. The Company isworking on a number of opportunities for growth into new markets thisyear,” said Mr. Anglin.
Mr. Joshua Littrell, CEO of Veterans for Cannabis andChief Strategy Officer of (GABRI) stated “GABRI is so excited tohave another veteran owned business as our partner to obtain acultivation license here in the state of Georgia,” Mr. Littrellcontinued “Mr. Anglin and the management team at CannAmerica bringintegrity, legitimacy and a strong sense of mission to lift up ourveteran community in the cannabis space. GABRI’s research focusinto what cannabis can mean to our veteran community specifically inregards to reducing pharmaceutical dependency is paramount and, havinga partner with the background and experience that CannAmerica bringsto the table, puts GABRI heads and shoulders above the competition asGABRI vies to obtain a license to cultivate medical cannabis here inthe State of Georgia, but more importantly improve the quality of lifein our veteran community and the medical patients in the great Stateof Georgia”.
The Company also announced that it has granted DianaAnglin 250,000 incentive stock options. The options are exercisable,subject to vesting provisions, over a period of five years at a priceof $0.05 per share.
For further information please contact the Company at info@cannamericabrands.com .
On Behalf of the Board,
Dan Anglin
CEO / Director
CannAmerica Brands
About CannAmerica Brands Corp.
CannAmerica is a U.S. Marine Corps veteran founded and operatedportfolio of cannabis brands with licensing agreements in the statesof Colorado, Nevada, Oklahoma, Maryland, Massachusetts and the Countryof Canada. 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.
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