Canna Brands, Inc. (OTC: CBWP) today announced the signing of a Letter of Agreement with Nana's Secret Soda and its founder, Cecilia Sivertson. Among its various provisions, the Agreement provides for a new company to be incorporated to take ownership of all intellectual property related to the Nana's Secret Soda brand. Alison Baird, Canna Brands Chief Operating Officer, will become the new company's President and Cecilia Sivertson, its Official Spokesperson and a Director. Canna Brands will provide day-to-day management services to the new company and receive a brand-licensing fee.
In accordance with the Agreement, Canna Brands will also provide capital funding to the new company for operations, including the establishment of a compliant manufacturing facility and will finance the acquisition of bottling equipment and related items to position Nana's Secret Soda for growth.
CEO Mark Schaftlein stated:
"Nana's Secret Soda is the premier cannabis infused soda brand in the State of Washington. Cecilia Sivertson is a pioneer and one of the most loved and quoted figures in the infused cannabis goods industry. Canna Brands is both pleased and honored that Cecilia would sign this Agreement with our Company. We look forward to growing the Nana's Secret Soda brand and to helping support Cecilia's work benefiting persons with epilepsy."
About Nana's Secret
Cecilia Siverston founded Nana's Secret out of a need to help ease her epilepsy symptoms and arthritis pain. Diagnosed with epilepsy as a teenager, Cecilia tried cannabis in 2012 after her medications left her with tremors and other side effects that made normal life difficult. Thrilled with the improvement, Cecilia began sharing her tasty creations with others and Nana's Secret began. Today, Nana's Secret Soda is the premier infused cannabis soda in the State of Washington. In 2014, Cecilia joined forces with Canna Brands, Inc. to grow the Nana's Secret Soda brand and to secure more resources for her work benefiting persons with epilepsy.
About Canna Brands, Inc.
The business of Canna Brands is developing and licensing uniquely branded specialty goods targeted to cannabis consumers residing in the states of Colorado and Washington where the recreational consumption of cannabis infused products, such as bottled sodas, coffee beverages, baked goods and others, is legal for persons 21 years or over.
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