Business
Cann American Corp. Elaborates On Reg A Cancellation and Provides Shareholder Update
Cann American Corp. Elaborates On Reg A Cancellation and Provides Shareholder Update.
About this update from Cann American Corp.
[{"type":"text","content":"CLOVERDALE, CA / ACCESSWIRE / October 4, 2021 / Cann American Corp. (OTC PINK:CNNA), the "Company", is pleased to provide this shareholder update.Recently, the Company has withdrawn its Regulation A (Reg A) filing with the SEC. Regulation A is an exemption from registration from public offerings that essentially allows a qualified issuer to sell unrestricted stock to investors at a discount to current market value.Cann American has always considered a Reg A offering as a last contingency back up that the Company would rather have and not need than need and not have in the case that a significant opportunity came along.Recently, based on significant progress with the Company's ongoing initiatives and investments it has become apparent, based on recurring revenue projections, that the Company no longer needs to pursue a dilutive offering, even as a back-up, through Regulation A.The Company has been equally aware that the RegA was unpopular amongst shareholders which factored in the Company's decision.Cann American is pleased to announce that its investments have re-positioned the Company's profit projections and we believe consistent revenue generation will adequately fund the Company's operations going forward.In addition, the Company will be making several key announcements in the days and weeks to come, detailing our revenue generation initiatives.Stated CEO, Jason Black: We've heard shareholder concerns about the RegA and I'm pleased we were in such a strong position to eliminate that as a funding option. I look forward to sharing with our shareholders the significant progress we've made over the past few months."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 s...