Become A Featured Company

CannAmerica signs LOI to distribute licensed products in Massachusetts

Ryan Allway

June 25th, 2019

News

VANCOUVER, June 24, 2019 /PRNewswire/ – CANNAMERICA BRANDS CORP. (“CANA” or the “Company”) (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that on June 20, 2019 it had entered into a non-binding letter of intent (“LOI”) with Canna Provisions Inc. (“the Licensee”) under which the Licensee will have an exclusive license to manufacture and distribute CannAmerica branded cannabis infused gummy products and disposable vape pens, and Live Labs branded cannabis concentrate products, including droppers, shatter and wax concentrate products, and gelatin based capsules (the “Licensed Products”) in the Commonwealth of Massachusetts. Live Labs is a brand created by the founders of CannAmerica, wholly owned by the Company, and is being introduced in the Northeastern United States recreational cannabis marketplace.

Terms of the LOI are as follows:

  • The initial term of the license agreement will be for a period of 3 years.
  • Net price payable from Canna Provisions Inc. to the Company will be determined by a per package/unit fee relating to CannAmerica products that the Licensee decides to produce.
  • Canna Provisions Inc. agrees to pay the Company a license fee to manufacture and distribute the Company’s products;
  • The Licensee will purchase all un-infused consumable ingredients, packaging supplies, and branded hardware exclusively from the Company;
  • Canna Provisions Inc. will follow formulations and processes provided by the Company;
  • During the first 180 days of the Initial Term, the Licensee is expected to employ one full-time sales representative to exclusively promote, market, advertise and sell Licensed Products;

Subject to Board approval from the Company and completion of satisfactory due diligence, the parties intend to enter into a Definitive Agreement on or before July 15, 2019.

“The Company is looking forward to the prospects of an agreement with Canna Provisions Inc. with the intent of introducing our growing brands into Massachusetts and the Northeastern market of the United States,” said Dan Anglin, CEO and Co-Founder of CannAmerica. “The Massachusetts adult use marketplace is thriving and a perfect fit for CannAmerica Brands concept and products. Expanding into this marketplace was a fundamental goal for the brand and is an important milestone in reaching the Company’s growth goals for 2019.”

“My colleagues and I at Canna Provisions have known the CannAmerica Brands team for many years, and we are excited to work with these experienced cannabis industry professionals again—this time in the great state of Massachusetts,” said Meg Sanders, CEO of Canna Provisions Inc., which will open its first of three Massachusetts dispensaries soon in Lee, Mass. “We are confident that CannAmerica’s infused gummies and vape pens and Live Labs’ concentrates and capsules will find receptive audiences among our customers, who expect and deserve thoughtfully formulated, efficacious cannabis products that deliver consistent and repeatable effects.”

For more information, please visit www.cannamericabrands.com.

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

About CannAmerica Brands Corp.

CannAmerica Brands 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 Canna Provisions Inc.

Canna Provisions is the next generation of cannabis dispensary focusing on a unique and thoughtful customer experience. We are here to guide you and towards the right provisions to fit your lifestyle and provide knowledgeable support every step of the way. Founded by established industry pioneers with extensive cultivation, regulation and consumer sales experience, Canna Provisions stores provide a broad range of top-grade craft cannabis products that are locally sourced and thoughtfully produced. Life is a journey. No matter the path, trust Canna Provisions to better your journey. To learn more, visit CannaProvisionsGroup.com. Join us on Facebook, Instagram and Twitter.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including that the Company is anticipated to enter into a definitive agreement with CANNA PROVISIONS INC. by July 15, 2019, the terms of the LOI are expected to be as anticipated by management and CANNA PROVISIONS INC. is expected to manufacture and distribute CannAmerica branded CBD infused products in Massachusetts are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will enter into a definitive agreement with the CANNA PROVISIONS INC. by July 15, 2019, the terms of the LOI will be as anticipated by management and the CANNA PROVISIONS INC. will manufacture and distribute CannAmerica branded CBD infused products in Massachusetts. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not enter into a definitive agreement with CANNA PROVISIONS INC. by July 15, 2019 or at all, the terms of the LOI will not be as anticipated by management and CANNA PROVISIONS INC. will not manufacture and distribute CannAmerica branded CBD infused products in Massachusetts. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

SOURCE CannAmerica Brands Corp.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading