CLOVERDALE, CA / ACCESSWIRE / May 4, 2020 / Cann American Corp. (OTC PINK:CNNA) is pleased to announce an equity investment in Fly Beverage Corp.
Fly Beverage, based in Northern California, specializes in cannabis infused beverages for the California dispensary market. The company’s brands consist of Nectr and Matt’s High Soda.
Nectr, offers four flavors of sparkling water with 10mg THC per bottle. The Nectr line of drinks are already on shelves in thirty dispensaries throughout California. You can learn more about Nectr at:
Matt’s High Soda is in the process of launching their first shipments of Uncle Arnie’s Iced Tea Lemonade to dispensaries this week. Uncle Arnie’s Iced Tea Lemonade consists of 100mg THC per bottle making it the highest THC dosage edible serving the California dispensary market across all categories. You can learn more about Uncle Arnie’s and Matt’s High Soda at:
Fly Beverage is 77% owned by Spacestation. A leading cannabis beverage co-packer for the California infused beverage industry. Because of Spacestation’s direct involvement in these beverage lines while also serving the fulfillment needs of some of the biggest dispensary beverage brands in California, Cann American management has determined that Fly Beverage was uniquely positioned to capture significant market share of the California market and an early stage investment was in the best interest of the company and shareholders. You can learn more about Spacestation at: https://flyspacestation.com/
Cann American Corp.’s investment will enable Fly Beverage to reach their goals of selling to 50 dispensaries by the end of the month and reaching 100 dispensaries in three months. Fly Beverage is also preparing to have a professional independent valuation of the company performed. Current estimates for Fly Beverage are between $8mm to $11mm valuation.
Stated Fly Beverage Corp. CEO, Matt McGinn: “We’re extremely pleased to have this investment from Cann American Corp. It’s relieving to know in these times of recent uncertainty that we have reliable partnerships that could step in and help keep the company on pace to meet its near-term objectives.”
Stated Cann Am CEO, Jason Black: “I was initially reluctant to get involved with a beverage company, but having looked closely at Fly Beverage’s business model, facilities and product lines, coupled with the fact that their majority owner, Spacestation, allows them the ability to stay ahead of their competition, the investment was a ‘no brainer’. Fly Beverage is a winner and I’m very confident in hinging Cann American’s success on their success.”
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.
Contact: Jason Black
SOURCE: Canamed4Pets, Inc.