Cann American Corp. Announces Engagement of PCAOB Auditor to Prepare for Uplisting

Rhea-AI Summary

Cann American Corp. (OTC PINK:CNNA) announced the engagement of Michael Gillespie & Associates, PLLC as its auditor, a step towards preparing for an uplisting. The company, which resumed its operations in 2019, aims to meet SEC reporting obligations for audited financials. CEO Jason Black emphasized the company's successful reporting history and its strategy to enhance shareholder value through uplisting in 2022. The move signals Cann American's commitment to improving its market presence in the legal cannabis and hemp industries.

Positive

• Engagement of PCAOB auditor enhances credibility.
• Successful completion of timely financial reporting since 2019.
• Uplisting aims to increase shareholder value and improve market position.

Negative

• None.

CLOVERDALE, CA / ACCESSWIRE / January 3, 2022 / Cann American Corp. (OTC PINK:CNNA), a forward-thinking holding company building a diverse portfolio of intellectual properties in the legal cannabis and hemp industries, is pleased to announce the engagement of Michael Gillespie & Associates, PLLC as the company's auditor.

Having taken the CNNA entity current in October of 2019, after nearly 4 years of dormancy, and completing the merger that became Cann American Corp. in December of 2019, current management believes it has sufficiently maintained its reporting obligations to begin the process of reporting audited financials through the SEC EDGAR system for the sake of uplisting to a higher exchange.

On December 27^th the company filed an 8k report announcing it has engaged Michael Gillespie & Associates as its auditor. The company chose to release the 8k through EDGAR to maintain a timeline of events during the audit process and to accustom itself with making regular reports through the SEC system.

"I believe, after 3 years of timely reporting of our financials, that uplisting is the next logical step for the company." Stated Cann American, CEO, Jason Black. "The company continues to demonstrate it has staying power in the public markets, where dozens of others in our sector have tried and have long since failed. Uplisting to an SEC reporting exchange is in line with our overall growth strategy for increasing shareholder value in 2022."

About Cann American Corp.

Cann American was formed in 2015 with an initial focus on developing legal cannabis industry infrastructure projects in Northern California. Now a publicly traded company under symbol (CNNA), Cann American Corp., through its subsidiaries, has expanded its focus toward developing assets, technologies, and acquisitions nationally in the legal cannabis and hemp industries.

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: Contact@CannAmericanCorp.com
Twitter: https://Twitter.com/CNNA_OTC

SOURCE: Cann American Corp.

View source version on accesswire.com:
https://www.accesswire.com/680582/Cann-American-Corp-Announces-Engagement-of-PCAOB-Auditor-to-Prepare-for-Uplisting

FAQ

What is the recent announcement by Cann American Corp. regarding CNNA?

Cann American Corp. announced the engagement of Michael Gillespie & Associates, PLLC as its auditor to prepare for potential uplisting.

How does the engagement of an auditor impact Cann American Corp. (CNNA)?

Engaging an auditor enhances credibility and helps meet SEC reporting obligations, crucial for uplisting.

What are Cann American's goals for 2022 as stated in the press release?

The goals include maintaining timely financial reporting and preparing for uplisting to enhance shareholder value.

What exchange does Cann American aim to uplist to?

The company aims to uplist to an SEC reporting exchange to strengthen its market presence.