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Saturday, November 26, 2022

Cann American Corp (OTCMKTS: CNNA) Video Game Creator Mark2media Reverse Merger Running as New CEO Implements Ambitious Plans

Cann American Corp (OTCMKTS: CNNA) is rocketing northbound since closing the 80% stake in video game creator Mark2media. Under the terms of the reverse merger Cann American acquired 80 million common shares of Mark2media Group, constituting 80% majority ownership in Mark2. CNNA is now closing in on its recent highs of $0.099. New management intends to rapidly expand Cann American into a diversified holding company. In addition to the Mark2 acquisition, the Company is currently negotiating additional acquisitions and preparing for additional board appointments.  

Reverse mergers can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and many RM stocks, we have covered on this website have gone from pennies to dollars. Two recent RM runners that stand out are TSNP/HMBL which went from sub pennies (where we first wrote about it) to several dollars per share. The other is HRBR which went from a few cents (where we first wrote about it) to $3 plus. CNNA has just 127 million shares in the float and total market valuation of just $1.4 million. The Company smartly completed the reverse merger with Mark2media Group with restricted shares. 


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Cann American Corp (OTCMKTS: CNNA) was originally incorporated in Wyoming in 2013 as and Bioflamex Corp before changing its name to Canamed4Pets, Inc. The new Comapny; Mark2media Group a video game creator is a technology company with a vision to develop and distribute applications globally under a unique business model that eliminates heavy end user costs. Mark2 is registered with Google Play, Apple Store, Steam and Oculus. Mark2 launched its first game, Infinite Dragoon, in September of 2021 and has received thousands of Google Play and Apple Store downloads. Mark2’s next game, Dragon Caster: Age of Infinity, is in the final stages of development and has already received over 10,000 sign ups. New management intends to rapidly expand Cann American into a diversified holding company. In addition to the Mark2 acquisition, the Company is currently negotiating additional acquisitions and preparing for additional board appointments

In March the Can American cancelled 3.3 million shares of common stock. The shares, previously issued to a third-party investor, were returned to treasury, and will immediately reflect a reduction of outstanding shares. As previously announced, which is a continuation of the company’s commitment to build shareholder value, the company cancelled a $30,000 convertible note. The note was purchased from a third party by CEO Jason Black in a private transaction. The company also announced on January 3, 2022, that it has also hired a PCAOB registered auditor to audit two years of financial statements so that the company can complete and file a Form 10 with the SEC to become a fully reporting company. 

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CNNA

ImageOn November 2 CNNA completed the asset purchase of Mark2media group as a majority owned subsidiary of Cann American Corp. Under the terms of the transaction Cann American acquired 80 million common shares of Mark2media Group, constituting 80% majority ownership in Mark2, in exchange of 1,500,000 series B preferred shares of Cann American. 

In addition to the Mark2 acquisition, the terms of the deal will see current CEO, Jason Black, step down as a Director and Officer of the Company and Mr. Alex Woods-Leo appointed as new Director and CEO. Mr. Alexander Woods-Leo is a published developer and patent holder with over a decade of experience with public companies and financial services. Mr. Woods-Leo also currently serves as a Director and CEO of Mark2media Group.

Assets such as the Company’s 20% stake in Cannagram are expected to remain with the Company as management believes that Mark2’s technology experience will greatly enhance the goals of Cannagram to expand into a technology driven cannabis delivery application.  Finally, the Company intends to restructure previous debt arrangements in order to preserve the Company’s capital structure and shareholder value, while immediately beginning the audit process for the sake of up listing to the OTCQB exchange. Additional updates will be forthcoming. 

Stated Cann American CEO, Alexander Woods-Leo: “I’m very excited for the opportunity to embark on this new era for Cann American and its shareholders. I have a bold new vision and direction for the Company and look forward to a bright future for Cann American.” 

 

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Currently trading at a $1.4 million market valuation CNNA is a low float reverse merger play that is on fire after the Company closed on the 80% stake in video game creator Mark2media. The new CEO; Mr. Alex Woods-Leo has an ambitious vision to rapidly expand Cann American into a diversified holding company and is currently negotiating additional acquisitions and preparing for additional board appointments. Currently he is getting the books audited in an effort to uplist to fully reporting OTCQB. The stock is quickly attracting a loyal following who swear this one goes way higher. A break into copperland and over Octobers highs near a penny and CNNA is on a blue sky breakout with little resistance under $0.05. We will be updating on CNNA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CNNA.

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Disclosure: we hold no position in CNNA either long or short and we have not been compensated for this article.

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