VANCOUVER, June 18, 2019 /CNW/ - CANNAMERICA BRANDS CORP. ("CANA" or the "Company") (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that its brand of products are now being distributed by Flower One Holdings Inc. ("Flower One") (CSE: FONE) (OTCQB: FLOOF) and production is increasing in order to meet demand.
In April, Flower One ordered 50,000 units from the Company for cannabis-product fulfillment in Nevada. Circulation of packaging related to this order began in the Las Vegas area earlier this month with distribution in dispensaries throughout the state of Nevada now available to consumers.
Dan Anglin, Founder and CEO of CANA, stated, "The Company is thrilled to have our new recipes and new packaging back in the Nevada market with our new partners Flower One. The excitement created in the Nevada marketplace by Flower One's amazing 455,000 square foot facility is generating increased success for our products in Nevada through Flower One's ability to provide retailers with access to our high-quality and fresh edibles."
In order to assist with an effective launch of new gummies and packaging in the Nevada market, the CannAmerica team was onsite in the beginning of June with Flower One to provide training on the infusion and packaging process. The demand for the Company's gummies continues to increase resulting in Flower One already making a second order of 60,000 units.
"We had a great week with the Flower One team at the beginning of the month and are excited to be working in unison with a partner who can fulfill our anticipated increase in orders across Nevada due to their large quantities of quality cannabis," said Dan Anglin. "The response from dispensaries has been tremendous with an increase in orders being placed, and production levels are rising in order to meet requests from consumers. We are excited to get started on fulfilling Flower One's second order right away."
Further to its press release dated January 7, 2019, the Company announces the expiration of its previously announced letter of intent to create a joint venture with Invictus MD Strategies Corp. (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) and CBDistribution Company Ltd. The parties continue to explore mutually beneficial alternatives.
CannAmerica Brands is a Colorado-based, marine-veteran-founded cannabis brand known for its line of top-tier cannabis gummies and edibles currently available in three states. Flower One is now licensed to manufacture, distribute and sell CannAmerica Brands' signature cannabis Fruit Juice Gummies and Super Soft Gummies to all cannabis retailers in Nevada.
On Behalf of the Board,
CEO and Director
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.
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 statement that the number of orders for the Company's gummies in Nevada is anticipated to increase is a forward-looking statement and contains 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 number of orders for the Company's gummies in Nevada will increase. 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 number of orders for the Company's gummies in Nevada will not increase as anticipated by management. 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.
SOURCE CannAmerica Brands Corp.
For further information: Media Contact: Sarah Thorson, Grasslands: A Journalism-Minded Agency, [email protected], (609) 234-8531