Tickers: XCNQ:CANA, XOTC:CNNXF
VANCOUVER - TheNewswire - April 13, 2020 - CANNAMERICA BRANDS CORP. ("CannAmerica" or the "Company") (CSE:CANA) (CNSX:CANA.CN) (OTC:CNNXF) is pleased to report that the Company's licensees in Colorado, Nevada and Oklahoma have placed additional orders for CannAmerica gummies and packaging to meet the increased demand for cannabis products, following announcements from government officials that licensed cannabis companies are essential businesses. It is too early to accurately predict the financial impact of the additional orders on the Company's revenue.
On March 20, 2020 Gov. Sisolak of Nevada under an emergency regulation under the Department of Public Safety Division of Emergency Management listed licensed cannabis entities as an essential business. On March 22, 2020 The Department of Public Health and the Environment of Colorado issued a Public Health Order deeming medical marijuana dispensaries a critical retail business and on March 24, 2020 Gov. J. Kevin Stitt of Oklahoma issued an Executive Order Executive Memorandum 2020-01 listing medical marijuana dispensaries as a critical business under healthcare.
While state and local authorities are working around the clock to determine public health policies related to the COVID 19 pandemic, Colorado, Nevada, and Oklahoma are not alone in this essential designation, as many other states have also made this determination in conjunction with stay at home orders.
Dan Anglin, President and Chief Executive officer of CannAmerica stated "The Company continues to be committed to the health and safety of CannAmerica's employees, business partners and communities where we operate. The Company is applying comprehensive and rigorous hygiene policies and Management is maintaining full adherence to measures put in place by applicable government authorities. The Company has been providing quality cannabis products to multiple markets for approximately five years. The Company's partners, all in the USA, which supply ingredients and packaging have assured the Company that CannAmerica has the ability to meet the increased demand for the Company's products."
Mr. Anglin continued, "The Company calls on the Federal Government to recognize the importance of cannabis to all Americans and immediately lift the prohibitions for access to cannabis by removing cannabis from the schedule of prohibited drugs at the Federal level. This immediate and necessary policy change could mean that legal and licensed cannabis operators, producers and distributors would be able to supply the consumer demand for cannabis across the United States. The Company's hope is that these designations of 'essential and critical businesses' by many states will lead to an immediate shift in Federal laws."
The Company also announced that Mr. Austin Sims has been appointed to the Company's Board of Directors (the "Board") effective April 13, 2020. Mr. Jason Pinsky resigned effective April 13, 2020. The Company has also granted Mr. Sims's 250,000 incentive stock options. The options are exercisable, subject to vesting provisions, over a period of five years at a price of $0.05 per share.
The Company thanks you for your continued support. For further information please contact the Company at email@example.com.
CEO / 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, Oklahoma, Maryland, Massachusetts and the Country of Canada. 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.
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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