$CNNA Company Launches Funding Arm For Cannabis Start-Ups - CLOVERDALE, CA / ACCESSWIRE / March 17, 2020 / Cann American Corp. (OTC PINK:CNNA) is pleased to announce Seed Fund LLC as a wholly owned subsidiary.
In addition to the company's R&D division under Cannequipt, Seed Fund, or simply, Seed, will act as an incubator and funding vehicle to help advance early stage and operating companies that Cann Am believes have strong growth potential to become solid revenue generators in the cannabis and hemp industries.
Similar in the way tech accelerators and incubators have operated for many years, Seed intends to make investment commitments in up to five companies annually, seeking small equity stakes in each company. The fund will help each company advance their branding, vision and business models with the intention that if we hedge our bets across several companies, operating in various arms of the industry, the company can increase its odds of landing a few that might be overwhelmingly successful.
The company is currently reviewing two candidates already. One is a unique infused beverage company near Woodland California that is already operating and preparing to scale up significantly. The other is a retail concept in one of the best sections of Oakland California, where the 2600 sq. ft. storefront has already been retained.
Additionally, if or when the Seed Fund makes an investment in the Oakland retail project, it has already been agreed that the location may also serve as a secondary office to Cann American Corp. Thus allowing the company to begin expanding its presence in the California Bay Area. This has been a strategic objective for some time.
The company will continue to provide additional updates as this and other pending events progress.