Cann American Corp. Provides Update on Prodigy Stem Cell Acquisition and Company Direction
Cann American Corp. (OTC PINK:CNNA) announced a shareholder update highlighting the completion of its acquisition of Prodigy Stem Cell on March 1, 2023. This acquisition aims to enhance the Company's direction in alternative therapeutics, particularly in the rapidly growing stem cell market, projected to reach $30 billion by 2030. Prodigy plans to distribute its products to various health and wellness facilities and open new branded wellness centers, starting with a facility in Florida. The Company is also preparing for an up-listing to the SEC reporting tier, aiming for a broader market presence.
- Acquisition of Prodigy Stem Cell expected to enhance market position in alternative therapeutics.
- Stem cell market projected to grow to $30 billion by 2030, presenting significant revenue opportunities.
- Prodigy plans to initiate distribution through health clinics and open new wellness centers in strategic locations.
- None.
RUTHERFORD, NJ / ACCESSWIRE / March 27, 2023 / Cann American Corp. (OTC PINK:CNNA), the "Company", a holding company building a diverse portfolio of intellectual properties, is pleased to announce a shareholder update for 2023.
On March 1, 2023, the Company completed the acquisition of Prodigy Stem Cell. With this acquisition the Company intends to expand its overall direction as a holding company engaged in alternative therapeutics ranging from CBD to regenerative medicines.
The Company will be, in the near term, focused primarily on expanding the Prodigy brand and vision originally launched under Prodigy's founder and recently appointed CNNA director, Pete Caruso.
Based on publicly available research reports, the global stem cell market is currently valued at approximately
As a wholesaler Prodigy will be offering its product lines to Dr.'s, sports medicine facilities, plastic surgery centers, and similar health and wellness clinics nationwide. This will be achieved through an extensive marketing campaign including conventions and brand ambassadorships. Prodigy has already began to recruit high profile athletes, who are also current clients, to promote the Prodigy brand.
Secondly, Prodigy intends to rapidly expand into several of its own Prodigy branded wellness centers at strategic locations throughout the US. The Company is currently planning to launch a new facility in Florida, in addition to its flagship New Jersey office, within the coming weeks. Prodigy locations will be strategically opened in regions that host major sporting facilities and professional athletic training camps as its target market.
As the Company aggressively embarks on advancing Prodigy Stem Cell, it is also nearing conclusion of its financial audits to up-list from alternative reporting to SEC reporting. With the belief that Prodigy is a world class product, the Company is committed to representing its portfolio on at least the OTCQB tier as soon as possible.
Stated Cann American CEO, Jason Tucker: "I'm extremely pleased to be appointed as CEO with Prodigy acting as our flagship asset. My previous experience with successful SEC audits has put me in the unique position to take CNNA into its next chapter. In addition to bringing on Mr. Caruso as a director, we will be announcing additional appointments soon and we will keep investors updated on our progress going forward."
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 alternative therapeutics across a range of sectors from CBD to regenerative medicines.
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.
Cann American Corp.
Contact: cannamericanholdings@gmail.com
Twitter: https://Twitter.com/CNNA_OTC
Prodigy Stem Cell
Contact: https://www.prodigystemcell.com/contact-us
SOURCE: Cann American Corp.
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https://www.accesswire.com/745892/Cann-American-Corp-Provides-Update-on-Prodigy-Stem-Cell-Acquisition-and-Company-Direction
FAQ
What is the purpose of Cann American Corp.'s acquisition of Prodigy Stem Cell?
What is the expected impact of the Prodigy Stem Cell acquisition on Cann American Corp.?
When did Cann American Corp. complete the acquisition of Prodigy Stem Cell?
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What are Cann American Corp.'s plans for new wellness centers?
