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CannAmerica and Total Herbal Care Corporation Enter Long-Term Licensing Agreement to Distribute Licensed Products in Oklahoma

VANCOUVER, July 3, 2019 /PRNewswire/ – CANNAMERICA BRANDS CORP. (“CannAmerica” or the “Company”) (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that on June 28, 2019, it entered into a long-term licensing agreement (the “Agreement”) and brand partnership with THC Total Herbal Care Corporation (“THC” or the “Licensee”) under which THC will have an exclusive license to manufacture and distribute CannAmerica branded cannabis infused gummy products, disposable vape pens, distillate droppers and shatter and wax concentrate product (the “Licensed Products”) in Oklahoma.

Terms of the Agreement include:

  • the initial term will be for a period of 5 years;
  • the Licensee will purchase all un-infused consumable ingredients, packaging supplies, and branded hardware exclusively from the Company; 
  • THC will follow formulations and processes provided by the Company; 
  • during the first 180 days of the initial term, THC will employ two full-time salespeople in Oklahoma to promote, market, advertise, and sell the Licensed Products; and
  • the Agreement may be terminated in certain circumstances, including:
    • applicable state or location regulatory authorities reject or cancel the Agreement, determine that the Agreement is illegal or impermissible, or determine that the Agreement would require the Company to be registered as an owner of the Licensee;
    • applicable federal authorities require the parties to cease performing under the Agreement or threaten enforcement against the parties in relation to the Agreement or to either party’s violation of federal law regarding cannabis; 
    • upon 120 days’ written notice by either party to the other party; or
    • by either party within five days’ written notice to the other if the other party files a petition of bankruptcy or is adjudicated bankrupt.

“We are pleased to announce that we expect CannAmerica branded products to be available in the Oklahoma medical cannabis market in the coming months,” said Dan Anglin, CEO and Co-Founder of CannAmerica.  “By signing this Agreement, CannAmerica will be poised to bring its menu of cannabis infused edible products, concentrates, and other medicinal cannabis product lines to the great state of Oklahoma. We have long been ready to bring our product lines to patients in the southern United States and are proud to be working with THC and their extraordinary management team. We anticipate that our expertise and quality products, combined with THC management, will increase the quality and variety of products available to the Oklahoma medical cannabis patient community.”

The Agreement aligns with the Company’s established goals to expand into additional markets in the United States during 2019.

“We are very proud to be a part of the CannAmerica team so we may provide their edibles and other highly-rated products to our patients in Oklahoma,” said Loretta Lever, CEO and President of THC.

Additionally, the Company is pleased to announce that it has entered into an extension agreement in respect of the previously announced binding letter of intent (“LOI”) dated March 8, 2019 to create a joint venture (“JV”) with Sericea Labs S.A. de C.V. and CBDistribution Company Ltd. with the intention of building a facility in Mexico for importing and warehousing licensed CBD products as well as CBD oils and tinctures destined for refining. The term of the LOI has been extended to January 1, 2020.

“The Company has learned that the Government of Mexico is making strides in the effort to legalize hemp-based products for manufacturing and distribution across Mexico,” said Dan Anglin, CEO and Co-Founder of CannAmerica. “We understand that the legislative process to create a new industry sometimes takes more time than expected, and have decided to extend the LOI through to the end of the year to allow more time for legalization to pass through the legislative bodies. We look forward to executing the agreement upon successful passage of legislation to legalize hemp and cannabinoid products in Mexico.”

For more information, please visitwww.cannamericabrands.com.

On Behalf of the Board,
Dan Anglin
CEO and Director
(314) 495-4589

About CannAmerica Brands Corp.

CannAmerica is a U.S. marine veteran founded and operated portfolio of cannabis brands with licensing agreements in the states of Colorado, Nevada and Maryland. The Company aims to maximize the value of its brands by employing strong brand management teams, marketing and licensing the brands through various distribution channels, including dispensaries, wholesalers and distributors, in the United States and internationally. The Company’s core strategy is to enhance and monetize the global reach of its existing brands, and to pursue additional strategic acquisitions to grow the scope and diversity of its brand portfolio. For more information, please visit www.cannamericabrands.com.

About THC Total Herbal Care Corp.

THC Total Herbal Care (THC) is licensed to cultivate, process, and dispense cannabis in Oklahoma. THC provides “cannabis goodness” products to help patients improve their quality of life. THC aims to deliver only the finest premium cannabis solutions and medicine. THC believes that wisdom gained from all-natural solutions should not be forgotten or ignored, and aims to provide such proven solutions with industry-leading quality and trust. For more information, please visit www.totalherbalcarethc.com

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