Cann American Corp. Enters Binding LOI to Enter Telehealth and Discount Drug Market

May 01, 2023 at 10:00 AM EDT

Company Retains Published Dr. and Anticipates Increased Revenue Projections

RUTHERFORD, NJ / ACCESSWIRE / May 1, 2023 / Cann American Corp. (OTC Pink:CNNA), the "Company", a holding company focused on developing alternative therapeutics, is pleased to announce its entry into a Binding Letter of Intent (LOI) with an emerging national discount healthcare plan provider.

Cann American Corp., Monday, May 1, 2023, Press release picture

Through a non-dilutive Agreement, CNNA shall acquire Liberty Health Plus (https://www.libertyhealthplus.com) as a wholly owned subsidiary. Liberty Health Plus, through agreements with Careington International Corp., is a provider of a wide range of discounted healthcare services such as: telehealth, pet care, prescription drugs, vision, and dental plans. The acquisition brings a network of best-in-class health and wellness services in the approximately $35 billion US telehealth and approximately $80 billion US discount drug industries under the CNNA umbrella.

The current operations of Liberty Health Plus, already capturing multi-million-dollar market share, through services administered by Careington, which had revenue of $373.8 million in 2022, allows affordable access to a variety of nationally established products including: DialCare Physician Access®, DialCare Mental Wellness®, DialCare Teledentistry®, DialCare Virtual Vet®, as well Liberty Health Plus RX.

Liberty Health Plus RX (https://libertyhealthplusrx.com/how-it-works/), is the nation's first free pharmacy by providing 605 of the most prescribed generic medications for free through its membership plan. Prescriptions are accepted by 64,000 pharmacies nationwide. Including: Walgreens®, CVS pharmacy®, Walmart Pharmacy®, Rite Aid®, and Albertsons®. Similar to a gym membership, once enrolled, customers get access to all Liberty Health Plus RX medications for free.

Liberty Health Plus RX is a direct competitor to companies such as Mark Cuban's Cost Plus Drugs. Whereas other programs charge a discounted generic drug fee, which can vary based on the type of medicine, the Liberty Health Plus RX membership fee, which covers your entire household, is all that customers will ever pay for access to generic prescriptions.

Upon closing, Liberty Health Plus Founder, Michael Kramer, will be added to the Cann American Corp. Board of Directors. Additionally, Liberty Health Plus will be re-branded as Prodigy Health Plus and Prodigy Health Plus RX. With the recent acquisition of Prodigy Stem Cell, and in line with the Company's strategy of building a diverse portfolio of revenue generating subsidiaries, management will take a synergistic approach of establishing a conglomerate of companies under the Prodigy name.

In conjunction with this vision, the Company has engaged Dr. Jason Schottel to act as a consultant to its subsidiaries and provide guidance on assisting Prodigy Health Plus patients gain access to regenerative therapies provided through Prodigy Stem Cell. Dr. Jason will also advise the Company on launching its planned wellness centers and speaking at Prodigy sponsored seminars.

Dr. Jason Schottel is the President & CEO of Anti-Aging and Regenerative Associates in Port Orange and Jacksonville, Florida an integrative medical practice founded in 2018 that provides care to approximately 3300 patients. Dr. Jason is a speaker and published author. His first book, "An Essential Guide to Wellness" has received industry recognition in its approach to educating the public through the utilization of preventative and regenerative medicine. He also holds a national and world title in powerlifting.

Dr. Jason received his medical training at Saba University School of Medicine, a Doctorate in Chiropractic Medicine from Palmer College of Chiropractic, and a Doctorate in Medical Sciences at Wilmington University. He received his MSN/APRN from South University and MBA from Davenport University. Dr. Jason holds board certifications in Adult Primary Care, Metabolic Cardiology, Aesthetic Medicine, Anti-Aging Medicine, Medical Weight Management, Chiropractic Medicine, and Physiotherapy. He is a Fellow in Metabolic Medicine, and his sub-specialization is metabolic cardiology and regenerative medicine. To learn more about Dr. Jason please visit his website: https://dr-jason.com

Stated Cann American CEO, Jason Tucker: "I am extremely pleased that we could enter into this Agreement with Liberty Health Plus, soon to be Prodigy Health Plus. Though most LOI's set 30 day closing dates, due to being in the final stages of our audit process, all parties felt comfortable with a May 10^th closing date, as we believe we will be filing our Form 10 with SEC at about the same time and delivering two significant milestones to our investors."

Further stated Cann American Director, Pete Caruso: "I'm thrilled that through networking, what started as meetings with Dr. Jason Schottel and Liberty Health Plus President, Mike Kramer, quickly evolved into this upcoming acquisition. Once re-branded as Prodigy Health Plus, we look forward to offering Prodigy Stem Cell's regenerative medicine treatments to patients nationwide through the Prodigy Health Plus network. I'm also very excited to have Dr. Jason's expertise available to the Company. He is among the best in regenerative medicine and his established presence in Florida, through his clinics, will allow Prodigy Stem Cell to accelerate its availability to that market faster than previously anticipated. This new opportunity for rapid expansion has increased our revenue projections to be $10 million for 2023."

About Cann American Corp.

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 under symbol (CNNA), Cann American Corp., through its subsidiaries, has expanded its focus toward developing alternative therapeutics across a range of sectors from CBD to regenerative medicines.

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.

Cann American Corp.

Contact: cannamericanholdings@gmail.com
Twitter: https://Twitter.com/CNNA_OTC

Prodigy Stem Cell
Contact: https://www.prodigystemcell.com/contact-us

SOURCE: Cann American Corp.

View source version on accesswire.com:
https://www.accesswire.com/752096/Cann-American-Corp-Enters-Binding-LOI-to-Enter-Telehealth-and-Discount-Drug-Market

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Cann American Corp. Enters Binding LOI to Enter Telehealth and Discount Drug Market

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