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VANCOUVER, BC / TheNewswire / March 7, 2019 - CANNAMERICA BRANDS CORP. ("CANA" or the "Company") (CSE: CANA) (OTCQB: CNNXF) is pleased to provide an update on its binding letter of intent to create a joint venture with Invictus MD Strategies Corp. (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) and CBDistribution Company Ltd. (collectively, the "Joint Venture") that was previously announced on January 7, 2019, with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction.
The transaction is anticipated to close on or before March 31, 2019. Each of the parties involved have received approval from their respective Board of Directors to enter into the Joint Venture. Once the transaction is closed, the Joint Venture will mark the Company's entry into the CBD market in the United States. The Joint Venture will no longer be purchasing eighty percent (80%) of the membership interests of Z3 Sciences, LLC, as previously announced on January 16, 2019, due to a mutual decision made by all parties involved.
For more information, please visit www.cannamericabrands.com.
On Behalf of the Board,
Dan Anglin
CEO and Director
(314) 495-4589
Media Contact
Kim Ring
Grasslands: A Journalism-Minded Agency
(314) 495-4589
About CannAmerica Brands Corp.
CannAmerica Brands is a U.S. marine veteran founded and operated portfolio of cannabis brands with licensing agreements in the states of Colorado, Nevada and Maryland. 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.
About Invictus
Invictus is a global cannabis company offering a selection of products under a wide range of brands. Our integrated route-to-customer approach is defined by five pillars of sales and distribution including medical, adult-use recreational, retail, Licensed Producer to Licensed Producer and international.
Invictus has partnered with business leaders to convey our corporate vision, including KISS music legend and business mogul Gene Simmons as our Chief Evangelist Officer. To meet growing demand, Invictus is expanding its cultivation footprint, with three cannabis production facilities licensed under the Cannabis Act and Cannabis Regulations in Canada. To accommodate domestic and international sales, Invictus' wholly-owned subsidiary, Acreage Pharms Ltd., is well advanced in building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices compliant. The Company is targeting for up to 50 percent of its production to comprise medical cannabis. To ensure consistency in quality and supply, Invictus participates in all aspects of the growing process through its subsidiary, Future Harvest Development Ltd., a high-quality fertilizer and nutrients manufacturer. Invictus drives sustainable long-term shareholder value through a diversified product portfolio with over 70 Health Canada approved strains and a multifaceted distribution strategy including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores. For more information visit www.invictus-md.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.
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