Cann American Corp. Announces Launch of Delivery Dispensary Partner
Cann American Corp. (OTC PINK:CNNA) has launched its cannabis delivery service, Cannagram, in Sacramento, CA. The company holds a 10% stake in Cannagram and is optimistic about its potential as a scalable platform for cannabis delivery. Cannagram aims to handle over 300 deliveries per day, significantly increasing Cann American's recurring revenue. CEO Jason Black anticipates this service could greatly enhance shareholder value. This initiative comes after Cann American opted to withdraw its recent capital raise.
- Cann American holds a 10% stake in Cannagram, with projections for increasing revenue.
- Initial operations show Cannagram is doing over 100 deliveries per day, with a target of 300 deliveries.
- The company withdrew a recent Regulation A capital raise, indicating confidence in Cannagram's revenue potential.
- Positioning as Cannagram's sole investor enhances its market position.
- Reliance on a newly launched delivery model poses execution risks.
- Uncertain regulatory environment could impact operations in the cannabis sector.
CLOVERDALE, CA / ACCESSWIRE / October 8, 2021 / Cann American Corp. (OTC PINK:CNNA), the "Company", is pleased to announce the successful licensing and launch of delivery dispensary partner, Cannagram.
Cannagram is a technology driven delivery dispensary with its flagship market now serving the Sacramento California region. Area residents can sign up for service at: www.cannagram.com
Cannagram was the brainchild of former Spacestation and Fly Beverage Co. founder Macai Polanski. Spacestation is the premiere cannabis beverage distributor throughout the state of California and Fly Beverage's Uncle Arnie's Iced Tea Lemonade is among the biggest selling THC infused beverages statewide. Based on Cann American's commitment and investment into Mr. Polanski's shared vision with Cann American he exited his Founding position with both enterprises to pursue the Cannagram cannabis delivery model full time.
Cann American has always seen cannabis delivery as the future of the industry. A vision not previously appreciated by many of the Company's industry colleagues. After meeting Mr. Polanski through Cann American's investment in Fly Beverage, the parties partnered to bring what is believed could be the premiere cannabis delivery platform with an eye on scaling nationally. With the events surrounding the Covid pandemic and a surge in delivery services across all markets, Cann American believes its outlook on scalable cannabis delivery will, in hindsight, be considered ahead of its time and the Company is very satisfied to be first to market such an extensive intellectual property platform.
The Sacramento hub of Cannagram aims to be the proof-of-concept test market which Cann American holds
Cann American holds an additional
Cannagram's initial location is already doing over 100 deliveries per day with projections to reach 300 deliveries per day. With Cann American strategically positioning itself as Cannagrams's sole investor the Company anticipates a significant recurring revenue steam going forward. These projections contributed to Cann American withdrawing its recent Regulation A capital raise.
Cann American's investment is currently at
Stated Cann American Corp. CEO, Jason Black: "The launch of a company like Cannagram has been my passion since Cann American was a fledgling private LLC launched in 2015 before we even envisioned going public. We believe Cannagram can be the premiere cannabis delivery platform nationwide and we encourage anyone residing in the Sacramento valley to sign up and try our service. We consider our flagship location to ultimately be a beta test market before scaling nationally and welcome feedback from Cannagram customers. Once scaled nationally shareholder value could be unprecedented and a once in a lifetime opportunity."
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.
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FAQ
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