Business
CannAmerica and Swiss Lux Products Enter Long-Term Licensing Agreement to Distribute Licensed Products in Canada
CannAmerica and Swiss Lux Products Enter Long-Term Licensing Agreement to Distribute Licensed Products in Canada.
About this update from Cannamerica Brands Corporation
[{"type":"text","content":"\n\n\n\nCannAmerica and Swiss Lux Products Enter Long-Term Licensing Agreement to Distribute Licensed Products in Canada\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\n\n\n\n\n\nCannAmerica and Swiss Lux Products Enter Long-Term Licensing Agreement to Distribute Licensed Products in Canada\nCanada NewsWire\nVANCOUVER, Aug. 12, 2019\n\n\n\nVANCOUVER, Aug. 12, 2019 /CNW/ - CANNAMERICA BRANDS CORP. (\"CannAmerica\" or the \"Company\") (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that on August 8, 2019, it entered into a long-term licensing agreement (the \"Agreement\") and brand partnership with Swiss Lux Products, Inc., (\"Swiss Lux\" or the \"Licensee\"). Under the Agreement, Swiss Lux will have use of the Company's renowned Intellectual Property, Branding, and Formulation processes in exchange for a royalty on all sales of the Company's products within Canada. \n\n \n \n\n \n\"CannAmerica is looking forward to our entry into the Canadian recreational market, as this agreement marks our first opportunity to bring our branded products to an entire nation\" said Dan Anglin, CEO and Co-Founder of CannAmerica. \"With Canada allowing for a multitude of finished products in the cannabis marketplace, CannAmerica is ready to introduce the Canadian cannabis consumer to products that have thus far been unavailable; we anticipate a vibrant response to our menu of offerings, and anticipate a positive response to our company's dedication to high quality products.\"  Anglin continued, \"Because Swiss Lux is only interested in collaborating with premium brands, this agreement provides them with the opportunity to utilize our supply chains and expertise as they develop and commercialize high-quality cannabis products for the recreational, cosmeceutical, edible, beverage, and medical markets.\" \nThe terms of the Agreement include the following: \nthe initial term of the Agreement will be for a period of 3 years;the Agreement provides for a license of the use of the Company's intellectual property, for which the Licensee will pay the Company a royalty percentage on gross sales;the L...