CLOVERDALE, CA / ACCESSWIRE / June 15, 2020 / Cann American Corp. (OTC PINK:CNNA) is pleased to announce a Letter of Intent (LOI) to invest in up to 30% ownership stake in a cannabis delivery company.
The Sacramento California based company has already received its conditional use permitted to operate a cannabis delivery only dispensary out of an already approved 3400 sq. ft. warehouse and office space.
Additionally, the company has developed proprietary technology platforms that will allow its model to eventually be scalable and franchised in a manner which, we believe, no cannabis delivery company has achieved thus far. The name of the company and further details on its tech are temporarily being withheld while the company completes USPTO applications but will be made public in due time.
In evaluating the opportunity, Cann American determined the delivery company's model has the potential to revolutionize cannabis delivery and will be in even greater demand following the recent and ongoing pandemic. As delivery of goods, in general, is rapidly becoming standardized Cann American believes the company has a great opportunity to capture significant market share locally, regionally and eventually on a national level.
Stated CEO, Jason Black: "When reviewing this business and its technology platform, plus having sought counsel from confidential advisors, the consensus was that this concept is extremely impressive and exciting. I am very anxious to be able to share more about the company and how it works, and we will soon. Before anyone balks at this just being an LOI, and claiming it's not binding, I can assure shareholders that funds have already exchanged hands, verbal understandings are in place and we're well into structuring a final agreement. Further updates on this as well as other pending business will be released shortly."
Forward Looking Statements:
This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact: Jason Black
contact@cannamericancorp.com
SOURCE: Canamed4Pets, Inc.
View source version on accesswire.com:
https://www.accesswire.com/593866/Cann-American-Corp-Announces-Letter-of-Intent
