Cann American Corp. Elaborates On Reg A Cancellation and Provides Shareholder Update

Rhea-AI Summary

Cann American Corp. (OTC PINK:CNNA) has announced the withdrawal of its Regulation A filing with the SEC, stating that significant progress in its operations negates the need for a dilutive offering. The company's recent investments have positioned its profit projections positively, ensuring that consistent revenue will fund operations going forward. The decision addresses shareholder concerns, as the RegA was unpopular among them. CEO Jason Black expressed satisfaction in eliminating this funding option and hinted at upcoming announcements regarding revenue generation initiatives.

Positive

• Withdrawal of Regulation A filing eliminates the need for a dilutive offering.
• Significant progress in operations indicates strong recurring revenue projections.
• Consistent revenue generation expected to fund operations adequately.

Negative

• None.

CLOVERDALE, CA / ACCESSWIRE / October 4, 2021 / Cann American Corp. (OTC PINK:CNNA), the "Company", is pleased to provide this shareholder update.

Recently, the Company has withdrawn its Regulation A (Reg A) filing with the SEC. Regulation A is an exemption from registration from public offerings that essentially allows a qualified issuer to sell unrestricted stock to investors at a discount to current market value.

Cann American has always considered a Reg A offering as a last contingency back up that the Company would rather have and not need than need and not have in the case that a significant opportunity came along.

Recently, based on significant progress with the Company's ongoing initiatives and investments it has become apparent, based on recurring revenue projections, that the Company no longer needs to pursue a dilutive offering, even as a back-up, through Regulation A.

The Company has been equally aware that the RegA was unpopular amongst shareholders which factored in the Company's decision.

Cann American is pleased to announce that its investments have re-positioned the Company's profit projections and we believe consistent revenue generation will adequately fund the Company's operations going forward.

In addition, the Company will be making several key announcements in the days and weeks to come, detailing our revenue generation initiatives.

Stated CEO, Jason Black: We've heard shareholder concerns about the RegA and I'm pleased we were in such a strong position to eliminate that as a funding option. I look forward to sharing with our shareholders the significant progress we've made over the past few months."

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: Canamed4Pets, Inc.

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FAQ

What did Cann American Corp. announce on October 4, 2021?

Cann American Corp. announced the withdrawal of its Regulation A filing with the SEC, indicating that it no longer needs a dilutive offering.

How will Cann American's revenue projections affect its funding strategy?

The company believes that significant progress in its initiatives will allow it to generate consistent revenue and fund operations without needing additional offerings.

What were shareholder concerns regarding the Regulation A filing?

Shareholders were generally opposed to the RegA filing, which factored into the decision to withdraw it.

What can shareholders expect from Cann American Corp. in the near future?

Shareholders can expect several key announcements regarding the company's revenue generation initiatives in the coming days and weeks.