VANCOUVER, BC – TheNewswire - December 15, 2020 - CANNAMERICA BRANDS CORP. ("CannAmerica" or the "Company") (CSE:CANA) (CNSX:CANA.CN) (OTC:CNNXF) is pleased to announce that on December 10, 2020, the Company has entered into a license application agreement with GA Bioscience Research Inc. (“GABRI”) (the “Agreement”), a Georgia company formed for the purpose of obtaining a Cannabis licensure in the State of Georgia (the “License”). The License will allow GABRI to conduct business operations for the cultivation and manufacture of legal cannabis products for medical use. CannAmerica will be assisting GABRI by providing the Company’s expertise for the license application and, if the license application is successful, providing services for the design, build, installation of equipment and launching the operations.
Terms of the Agreement include:
- The initial term will be for the application window which will expire on December 28, 2020;
- Upon successful issuance of a License to GABRI, CannAmerica will provide expertise for the build-out of the project, equipment set-up, and training in all areas of cannabis cultivation, processing and manufacturing for a six-month term.
- The Agreement will be extended on a month-to-month basis until complete if the project continues past the six-month term; and
- The Company has a right of first refusal to enter into a separate licensing agreement with GABRI to bring the Company’s branded products to the State of Georgia marketplace.
“The Company is extremely pleased to announce this Agreement for the State of Georgia’s newly created medical cannabis program. The State of Georgia will only be issuing six licenses statewide, therefore CannAmerica’s direct involvement with the GABRI license application is one of the biggest opportunities the Company has had for meaningful expansion since launching CannAmerica’s products in Oklahoma a year ago" said Dan Anglin, CEO and Co-Founder of the Company. Mr. Anglin continued “GABRI is very focused on providing medical patients with quality products and GABRI has a vast amount of diversity in professional backgrounds and cultural experience in management, which has proven to be of great importance for states with limited licensing.”
Mr. Anglin continued, “Most exciting for the Company’s management team is the focus on having United States military veterans involved in ownership and executive management of the Company. As a veteran of the United States Marine Corps, I am constantly seeking other military veterans to work within the cannabis industry. The Company has been successful at finding good partners such as its Oklahoma licensee at Total Herbal Care (US Army veteran) and the Company’s Colorado licensee at Arsenal Extracts (US Air Force veteran). It’s extremely gratifying to work with other veterans who are dedicated to supplying quality products to medical patients and consumers.”
“This Agreement continues the Company’s plans for expansion at the end of a turbulent year. With the approval for cannabis legalization in various states in the recent election the momentum for cannabis expansion continues to grow. The Company is working on a number of opportunities for growth into new markets this year,” said Mr. Anglin.
Mr. Joshua Littrell, CEO of Veterans for Cannabis and Chief Strategy Officer of (GABRI) stated “GABRI is so excited to have another veteran owned business as our partner to obtain a cultivation license here in the state of Georgia,” Mr. Littrell continued “Mr. Anglin and the management team at CannAmerica bring integrity, legitimacy and a strong sense of mission to lift up our veteran community in the cannabis space. GABRI’s research focus into what cannabis can mean to our veteran community specifically in regards to reducing pharmaceutical dependency is paramount and, having a partner with the background and experience that CannAmerica brings to the table, puts GABRI heads and shoulders above the competition as GABRI vies to obtain a license to cultivate medical cannabis here in the State of Georgia, but more importantly improve the quality of life in our veteran community and the medical patients in the great State of Georgia”.
The Company also announced that it has granted Diana Anglin 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.
On Behalf of the Board,
CEO / Director
About CannAmerica Brands Corp.
CannAmerica is a U.S. Marine Corps 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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