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CannAmerica and Invictus combine to enter hemp and CBD market in the US
CannAmerica and Invictus combine to enter hemp and CBD market in the US.
About this update from Cannamerica Brands Corporation
[{"type":"text","content":"\n\n\n\nCannAmerica and Invictus combine to enter hemp and CBD market in the US\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:1pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nCannAmerica and Invictus combine to enter hemp and CBD market in the US\nPR Newswire\nVANCOUVER, Jan. 7, 2019\n\n\n\nVANCOUVER, Jan. 7, 2019 /PRNewswire/ - CANNAMERICA BRANDS CORP. (\"CannAmerica\" or the \"Company\") (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that it has entered into a binding letter of intent (\"LOI\") to create a joint venture with Invictus MD Stategies Corp. (\"Invictus\") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) and CBDistribution Company Ltd. (\"CBDC\") with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction. \n\n \n \n\n \nIn December 2018, President Trump signed the $867 billion Farm Bill which recharacterized hemp from a schedule 1 drug with high potential for abuse to the lowest-level listed drug (schedule 5) which includes small doses of medicines such as codeine. This allows for mass hemp production in the United States that is federally legal and the ability to move hemp across state lines. Hemp is defined in the United States as cannabis with less than 0.3% THC. CBD, a non-psychoactive cannabinoid found in cannabis, has had a surge in popularity over the past couple of years based on its a huge range of potential health benefits and uses.\nSubject to Board approval from Invictus and completion of satisfactory due diligence, the parties intend to enter into a definitive joint venture agreement on or before January 31, 2019. Each of the parties will receive a one-third share of the joint vent...