VANCOUVER, Feb. 15, 2019 /PRNewswire/ - CANNAMERICA BRANDS CORP. ("CannAmerica Brands" or the "Company") (CANA.CN) (CNNXF) is pleased to announce that on February 14, 2019 it entered into a letter of intent ("LOI") to provide an exclusive license to manufacture and distribute CannAmerica Brands branded CBD infused products in Europe with Winchester MD Limited ("Winchester").
Winchester is a Europe based arms-length entity that operates a revenue producing online retailer under the brand HempElf and offers a variety of CBD products through its store. Winchester is seeking property in a number of regions in Europe for their new manufacturing facility, which CannAmerica Brands is not required to provide funding for.
CannAmerica Brands and Winchester intend to enter into a definitive agreement by April 15, 2019. Under the terms of the LOI CannAmerica Brands will provide Winchester with supplies and equipment in exchange for a per unit royalty payment that is to be determined in the definitive agreement.
"The Company is excited to expand CannAmerica Brand's reach into Europe and thrilled to be doing so with a partner that has been quickly building a reputation as a provider of high-quality CBD products" said Dan Anglin, CEO and Co-Founder of CannAmerica Brands.
For more information, please visit www.cannamericabrands.com.
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.
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 that the Company is anticipated to enter into a definitive agreement with Winchester by April 15, 2019 and Winchester will manufacture and distribute CannAmerica branded CBD infused products in Europe 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 entering into a definitive agreement with Winchester by April 15, 2019 and Winchester will successfully manufacture and distribute CannAmerica branded CBD infused products in Europe. 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 not be successful in entering into a definitive agreement with Winchester by April 15, 2019 and Winchester will not be able to manufacture and distribute CannAmerica branded CBD infused products in Europe. 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 accepts responsibility for the adequacy or accuracy of this release.
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