$CNNA Cann American Corp. (OTC PINK:CNNA), the "Company", is pleased to announce the successful licensing and launch of delivery dispensary partner, Cannagram.
Cannagram is a technology driven delivery dispensary with its flagship market now serving the Sacramento California region. Area residents can sign up for service at: www.cannagram.com
Cannagram was the brainchild of former Spacestation and Fly Beverage Co. founder Macai Polanski. Spacestation is the premiere cannabis beverage distributor throughout the state of California and Fly Beverage's Uncle Arnie's Iced Tea Lemonade is among the biggest selling THC infused beverages statewide. Based on Cann American's commitment and investment into Mr. Polanski's shared vision with Cann American he exited his Founding position with both enterprises to pursue the Cannagram cannabis delivery model full time.
Cann American has always seen cannabis delivery as the future of the industry. A vision not previously appreciated by many of the Company's industry colleagues. After meeting Mr. Polanski through Cann American's investment in Fly Beverage, the parties partnered to bring what is believed could be the premiere cannabis delivery platform with an eye on scaling nationally. With the events surrounding the Covid pandemic and a surge in delivery services across all markets, Cann American believes its outlook on scalable cannabis delivery will, in hindsight, be considered ahead of its time and the Company is very satisfied to be first to market such an extensive intellectual property platform.
The Sacramento hub of Cannagram aims to be the proof-of-concept test market which Cann American holds 10% stake in. Beyond Sacramento, Cannagram aims to be a scalable platform that license holders in any legal cannabis state can join to serve customers and patients in their region. Essentially the DoorDash of cannabis.
Cann American holds an additional 10% ownership in Cannagram's technology and intellectual property that will ultimately power the scalable platform.
Cannagram's initial location is already doing over 100 deliveries per day with projections to reach 300 deliveries per day. With Cann American strategically positioning itself as Cannagrams's sole investor the Company anticipates a significant recurring revenue steam going forward. These projections contributed to Cann American withdrawing its recent Regulation A capital raise.
Cann American's investment is currently at 20% overall and projected to exceed 25%. The Company has consistently remained OTC and SEC compliant, where required, and will register its equity holdings with the SEC if necessary.
Stated Cann American Corp. CEO, Jason Black: "The launch of a company like Cannagram has been my passion since Cann American was a fledgling private LLC launched in 2015 before we even envisioned going public. We believe Cannagram can be the premiere cannabis delivery platform nationwide and we encourage anyone residing in the Sacramento valley to sign up and try our service. We consider our flagship location to ultimately be a beta test market before scaling nationally and welcome feedback from Cannagram customers. Once scaled nationally shareholder value could be unprecedented and a once in a lifetime opportunity."