CannAmerica "Brand of the Free" Announces Listing on CSE Under Symbol "CANA" and Provides Update on Business Strategy
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.
Colorado
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.
Nevada
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.
Maryland
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.
Acquisition Pipeline
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.
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 and Director
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, EdiPure, 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 and Director
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: EdiPure, 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.
For more information, please visit www.cannamericabrands.com
On Behalf of the Board,
Dan Anglin
CEO and Director
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.
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 the potential acquisition of additional brands and license agreements, and expansion into other states, 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 be successful in acquiring additional brands and license agreements and expanding into additional states and financing required to support the acquisition of additional brands will be obtained. 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, the Company will be unable to obtain the financing required to support the acquisition of additional brands, the Company will not be successful in acquiring additional brands and license agreements and expanding into additional states. 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.
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.
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SOURCE CannAmerica Brands Corp.
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