VANCOUVER – TheNewswire - May 10, 2022 – CANNAMERICA BRANDS CORP. ("CannAmerica Brands" or the "Company") CANA CANA CNNXF is pleased to announce the introduction of Mood Carts, a brand-new line of a variety of six different vapor products built with a revolutionary new vaporization cartridge made entirely of glass combined with mood-based, effect specific terpene formulations made with pure distillate and botanical terpenes.
The new product line was soft launched on Monday, April 25th, and the Company immediately sold out of all its inventory and is collecting pre-orders for delivery in May. Projections of sales based on the immediate reaction of the product launch is an additional $1,400,000 - $2,500,000 in sales on top of existing edibles and cartridge sales in Colorado alone.
Mr. Dan Anglin, Company founder and CEO stated "with the launch of our new all-glass carts, we are entering into another category of products in the high-end consumer space. The initial reaction to the products is instant positivity at the visual beauty of these carts, but also excitement for the formulations of the purposed-based terpene formulations we've introduced. With the maturity of the industry, creating interest in a new product is more unusual than years past, and we're proud of the team's ability to create a line of products so overwhelmingly good."
Anglin continued "with our new Mood Carts line, we expect the brand to not only greatly increase its revenue stream, but our goal is to increase our shelf space in Colorado retailers in the edibles category by introducing new mood-based products in that category this summer."
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In Colorado, effective January 1, 2022, the Company began managing the operations of its licensed partner Arsenal Oils and Extracts, LLC. ("Arsenal"), in accordance with the series of agreements related to the merger and acquisition of Arsenal announced on December 16 and December 22, 2021. Since taking over the management of Arsenal sales have increased by 37% over Q1 2021. The Company continues to increase staff and production to meet the increased demand for CannAmerica edible and vaporization products in Colorado.
CEO Dan Anglin stated "The Company knew that returning to operations management leading to ownership of licensed facilities was the right step for creating value for the shareholders and this first quarter's performance validates that decision. The Company is currently working towards negotiating more opportunities for acquisitions of operators in multiple locations and expects significant growth in 2022. At this point, CannAmerica has amazing products, the right personnel, and the vision of growth in an era of consolidation for the industry; essentially, our compass is pointed North on all fronts for success this year."
For a more complete business and financial profile of the Company, please view the Company's website at www.cannamericabrands.com and documents posted under the Company's profile on www.sedar.com.
For further information please contact the Company at info@cannamericabrands.com.
On Behalf of the Board,
Dan Anglin
Chief Executive Officer and 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, Oklahoma, 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.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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