CANNAMERICA SIGNS LICENSING AGREEMENT FOR HEMP

CANNAMERICA SIGNS LICENSING AGREEMENT FOR HEMP PRODUCT MARKET


VANCOUVER, December 1, 2020 - CANNAMERICA BRANDS CORP. ("CannAmerica" or the "Company" (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that on November 30, 2020, it entered into a long-term licensing agreement (the “Agreement”) for use of its technology and processes with VIII Brands, LLC (“the Licensee”), a privately held company based in Colorado, with the intent of creating Consumer Packaged Goods (CPG’s) in the United States.

VIII Brands, LLC is a hemp branding house started in 2019 for the purposes of introducing hemp-based cannabinoid CPG’s into major retailers across the United States, where food, beverages, topicals and other consumption products are allowed.

Terms of the agreement include:

The initial term will be for a period of 5 years;
A licensing fee of US$1,000,000 due 24 months after the Effective date of the Agreement;
Ongoing monthly fees for use of the Company’s equipment to commence six months after the Effective date of the Agreement;
The Company is allowed an option to purchase the Licensee;

“Our team is extremely pleased to announce this Licensing agreement in the hemp-based CPG marketplace as 2020 comes to a close. CannAmerica Brands has been hyper focused on creating a path for using our proprietary systems, supply chains, processes and brand creation in the Hemp marketplace since 2018," said Dan Anglin, CEO and Co-Founder of CannAmerica. “This agreement provides us the path towards product introduction in Q1 of 2021, and provides us with the opportunity to create products in the nationally legal marketplace without having to create the infrastructure built by our partners.”

Anglin continued, “Our excitement to help VIII Brands introduce new products to the US marketplace could not be higher, as our research and development is already established for confections and other edibles, as well as beverages and topicals, utilizing our established formulations of various legal cannabinoids such as CBD, CBG, CBN and others. With our Licensee’s facility in Colorado in place and fully operational, we expect their products to hit the shelves of their online stores and retailers right after the beginning of the new year.”

“Additionally, we are pleased with the option to acquire VIII Brands in place in this agreement prior to their introduction of products into the market, as that puts the Company in a position to take a much closer position in the near future in the space while increasing our near-term revenue capture while they launch their products. Quite simply, this is a great development for our company and a perfect way to put the challenges of 2020 behind us as we look forward to many more opportunities given the recent wins for cannabis legalization across the United States this year.”

For further information please contact the Company at info@cannamericabrands.com.

Sincerely,

Dan Anglin
CEO / Director
CannAmerica Brands
www.cannamericaco.com
www.cannamericaclothing.com
www.cannamericabrands.com