CANN AMERICAN CORP. Cann American Corp. (OTCPK:CNNA) entered into a binding letter of intent to acquire 80% stake in Mark2media Group LLC on October 26, 2022. Under the terms of the agreement Cann American will acquire 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 Alex Woods-Leo appointed as new Director and CEO. The acquisition and change of management are expected to close on October 31, 2022.
