(OTC:CNNA) Cann American Corp: These shares hit a yearly high of $0.045 earlier this year and since has consolidated to present levels. The company cancelled its recent Reg A Offering driving the stock higher almost doubling in value .
We look for a retest of the yearly high of $0.045 which would be a doubling from todays price. All serious investors must place these shares on their WATCH LIST .
Cann American Corp. Elaborates On Reg A Cancellation and Provides Shareholder Update
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Recently, the Company has withdrawn its Regulation A (Reg A) filing with the SEC.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 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.
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