TORONTO, Oct. 12, 2018 /CNW/ – CANNAMERICA BRANDS CORP. (“CannAmerica” or the “Company”) (CSE: CANA), a cannabis branding, licensing and intellectual property company with a portfolio of premium cannabis brands in the United States, is pleased to announce it has received approval for the listing of its common shares on the Canadian Securities Exchange (“CSE”). The Company’s shares will commence trading at market open on Monday, October 15, 2018, under the symbol “CANA”.
CannAmerica Enters Licensing Agreements
CannAmerica had an exciting start to fiscal 2019 ending March 31. The Company has entered into licensing agreements for its key brand, CannAmerica (the “Brand”), in three key geographic markets – Colorado, Nevada and Maryland, with industry leaders in each of these respective markets. The Company has licensed its brands, packaging, formulas, supply chain and processes to the three licensees in exchange for licensing royalty fees based on sales by the licensee. The Company has successfully raised approximately $5.4 million via non-brokered private placements. The initial Brand has sold over 12 million state approved gummies in the Colorado market, since launching in 2016.
Update on Current Licensees
The Company currently licenses its Brands to licensed and regulated Cannabis product manufacturers and wholesale licensees and has three licensing agreements with licensees in the States of Colorado, Nevada and Maryland, with additional multi-state growth planned in the current and subsequent fiscal year.
The licensee in Colorado is a well-established 25,000 square foot cultivation and manufacturing facility, currently selling in dispensaries in Colorado. New SKU’s will be introduced into the Medical market in October.
The licensee in Nevada is a well-established 30,000 square foot cultivation and manufacturing facility, currently selling in dispensaries in Nevada. Production commenced in August 2018 with over 150,000 gummies produced to date.
The licensee in Maryland has a 7,500 square foot facility and was one of the first extraction licenses issued in Maryland, and is currently one of only 15 extraction licenses in the state. The operations related to CannAmerica’s license agreement commenced in August 2018.
Updates on Near-Term Growth
New Geographic Markets
The Company plans to launch its existing brand portfolio via new license agreements in several new and important U.S. states, including California, in the next six months.
The Company is currently assessing a number of key brands as acquisition targets to continue growing the portfolio of brands and to diversify revenue streams. These efforts will be a catalyst in the Company’s growth strategy.
The Company aims to acquire well-known consumer brands in the Cannabis space with high potential for growth and strong brand awareness. The Company is also seeking to diversify its portfolio by evaluating the strength of targeted brands and expected viability and sustainability of future royalty streams. Upon the acquisition of a brand, it seeks to partner with leading wholesalers and dispensaries to drive incremental value and maximize its brand equity. It focuses on certain key initiatives in its licensing and brand management business. These initiatives include:
- Maximizing the value of its existing brands by creating efficiencies, adding additional product categories, expanding distribution and retail presence and optimizing sales through innovative marketing that increases consumer brand awareness and loyalty;
- Expanding through e-commerce channels;
- Developing international expansion through licenses, partnerships and other arrangements with leading retailers and wholesalers outside the United States; and
- Acquiring consumer brands (or the rights to such brands) with high consumer awareness, broad appeal and applicability to a wide range of product categories.
The Company’s business is designed to continually build upon and add to the value of its brands through license agreements and partners that are responsible for manufacturing and distributing its licensed products. Its brands are licensed for the Cannabis space and it seeks to select licensees who have demonstrated the ability to cultivate, manufacture, produce and sell quality products in their respective licensed categories.
Dan Anglin, Founder, CEO
A U.S. Marine Veteran, Dan Anglin is Founder and CEO of AmeriCanna Brands, a Marijuana Infused Products manufacturer and cultivator of both medical and recreational marijuana products in Colorado. Since 2011, Dan has been a high-profile leader in the marijuana industry, having owned and operated a successful recreational dispensary in Black Hawk Colorado, and co-owned one of the largest marijuana manufacturing companies in the world, operating in multiple states. Dan is also a national expert in marijuana public policy, serving on rule-making work groups for the Colorado Marijuana Enforcement Division on more than 10 occasions, as well as crafting legislation directly at the Colorado General Assembly for the good of Colorado and its regulated industry. Dan founded and is the Chairman of the Board of Directors of the Colorado Cannabis Chamber of Commerce, an industry-based trade organization dedicated to advocacy and networking opportunities for the cannabis industry, as well as promoting reasonable regulation on legal commercial cannabis businesses.
Frank Falconer, Founder, COO
Frank’s involvement in the cannabis industry started in 2009 with the ownership and successful sale of marijuana edibles company, Wild Flour Baking Co. (“WFB”). Shortly after the sale of WFB, Frank shifted focus to distribution and development of new brands in the Colorado market. The impressive portfolio of infused-product brands he introduced into the market include: EyeChronic, ExtractionTek, CRREO bags, Kush Bottles, ApotheCanna, PharmPods, Organa Labs Vape Pens (Open Vape), and Atmos Vape Pens. In addition to this list of brands he introduced into the market, he co-founded Denver Consulting Group (A Cannabis Consulting Firm, catering to clients nation-wide), Cannascore (a Compliance Audit Software Program, tracks compliance for cannabis operations, nation- wide), and now Americanna. Frank brings a unique, creative, intuitive approach to cannabis brand development, and his successful portfolio has led him to become one of the most trusted, sought-after players in the industry.
On Behalf of the Board,