Canna Broadcast Media (OTCMKTS:CBMJ) shares are trading at $0.0300 and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $1.14 million at 38.11 million shares outstanding.
In a press release, Canna Broadcast Media announced that it has secured a $500,000 dollar funding commitment from MFG. The company will use the funds to purchase mainstream media for the cannabis industry.
MFG has agreed to transfer the sum of $500,000.00 to Canna Broadcast Media in pre-paid media placement opportunities and services that can be used on Television, Radio, Out of Home, Digital Display and Print Publications subject to normal placement terms.
“By receiving $500,000 in media funding, Canna Broadcast Media is now able to increase its buying power of mainstream media for the cannabis industry which is expected to increase our margins, expand our reach, and allow us to place media for a greater number of clients. The timing of this funding commitment just prior to the MJAC2017 investors conference in LA powered by CBMJ puts us in an even stronger position as we meet with leaders of the cannabis industry. Our appointments are nearly full despite adding an additional individual to take orders at the show but feel free to stop by our double booth to learn more,” remarked Mark Schaftlein, CEO of Canna Broadcast Media.
Canna Broadcast Media is a company that specializes in getting mainstream media cleared promoting the cannabis sector including network TV, radio, and digital ads targeting those who wish to take advantage of the incredible investment opportunities that exist in the cannabis sector.
The company acquired LoudMouth News which became the first and longest running syndicated terrestrial radio news program that focused on the news relating to the marijuana industry. LoudMouth News presents the news and commentary in an entertaining neutral manner highlighting the most impactful current news in politics, products, sociological issues, businesses, and the ever-changing perceptions of marijuana usage.