CLOVERDALE, CA / ACCESSWIRE / January 28, 2021 / Cann American Corp. (OTC PINK:CNNA), the Company, is pleased to announce the Company has secured a 24-month lease in Laredo, Texas.
Under the terms of the lease the Company has access to 3 acres and its existing structures consisting of a hangar style building and large barn.
The Company intends to outfit the structures to accommodate the development of a hemp processing facility to service an adjacent hemp farming operation and additional regional hemp operations for large scale trimming and drying services.
The property also borders the nation of Mexico, which is on track to become the world's largest cannabis market. If the new US administration federally legalizes cannabis in the US, as expected, the Company believes the Laredo operation will be well positioned to engage in US/Mexico international trade on cannabis cultivation and processing, if feasible.
The Company remains in talks to invest in an Oklahoma based operation as well as exploring hemp cultivation opportunities in Arkansas and New York.
Stated CEO, Jason Black: "I'm pleased that this lease agreement has closed and we can move forward with our hemp processing initiatives. Processing remains a vastly under served aspect of the hemp and cannabis industries. The Texas lease allows us to avoid the time and cost of building out infrastructure which will allow us to become operational much faster."
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.
SOURCE: Cann American Corp.