The evolving cannabis industry offers investors huge room for growth. The U.S. legal cannabis market, in particular, is set to boom. It could grow at a compound annual growth rate (CAGR) of 21% to be worth $41 billion by 2025, according to a report from New Frontier Data.
The green sector got a boost after Amazon (NASDAQ: AMZN) said late Tuesday that it will no longer screen prospective employees for marijuana for any positions not regulated by the Department of Transportation. Instead, the company said it will treat marijuana the same as alcohol use.
For investors ready to jump on the cannabis bandwagon. Cann American Corp. (OTC: CNNA) should be highly considered this month as their shares saw an increase in momentum in recent trading sessions.
Cann American was formed in 2015 with an initial focus on developing legal cannabis industry infrastructure projects in Northern California. Now a publicly traded company, Cann American Corp. (OTC: CNNA), through its subsidiaries, has expanded its focus toward developing assets, technologies and acquisitions nationally in the legal cannabis and hemp industries.
Recently, the Company has withdrawn its Regulation A (Reg A) filing with the SEC.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 announced 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.
When it comes to investing, patience is key even when you’re investing in a quickly evolving industry like cannabis.