2018-10-16 06:10 ET – News Release
Vancouver, British Columbia–(Newsfile Corp. – October 16, 2018) – CannAmerica Brands Corp. (CSE: CANA) is one of the latest new listing on the Canadian Securities Exchange. The company owns a portfolio of brands in the Medical Cannabis and Recreational Cannabis space with licensees in the States of Colorado, Nevada and Maryland.
InvestmentPitch Media has produced a “video” which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter “CannAmerica” in the search box.
It currently owns two brands, CannAmerica and AmeriCanna which are licensed to manufacturers and wholesale licensees. The company generates revenue through license agreements whereby licensees are granted rights to utilize the brand names and related intellectual property. Revenue from these licensing agreements is generated through licensee purchases of branded packaging and uninfused product ingredients from the company.
The company’s flagship edible gummy brand, CannAmerica, is currently sold in U.S. dispensaries with over 12 million state approved gummies sold in the Colorado market alone, since launching in 2016. The company is also targeting the acquisition of other well established and/or new consumer cannabis brands with high potential for growth and strong brand awareness in exchange for a royalty on gross sales. These efforts will be a catalyst in the company’s growth strategy and will diversify revenue streams.
Dan Anglin, Co-Founder and CEO, stated: “CannAmerica is excited to achieve this milestone as we work toward expanding our brands into new markets in the U.S. cannabis sector, and beyond. Today’s announcement is a significant landmark for CannAmerica and the direct prospectus listing provides investors with access to a new player in this emerging industry. We have multi-state licenses who benefit from a recognized brand, as well as the proprietary formulas, recipes, intellectual property, ingredients, packaging solutions, and trade secrets for creating premium cannabis products.”
The company recently closed a non-brokered private placement, raising gross proceeds of approximately $3.9 million from the placement of approximately 13.2 million shares priced at $0.30 per share.