TransCanna Holdings (CSE: TCAN) (XETR: TH8) today announced
that it has signed a non-binding letter of intent to acquire a full service
advertising and marketing agency for the cannabis and hemp industries,
Goodfellas Group, LLC, from which TransCanna is already acquiring 23 branding
agreements. 60 percent of acquisition price (two times the previous 12 months
revenues, at the time of execution of definitive agreements, as set forth in
Goodfellas audited financial statements), will be paid at closing, half of
which payable in cash and half payable through the issuance of the company’s
common shares. The remaining 40 percent of the acquisition price will be paid
12 months following the closing. “It’s critically important that in order for
our future brands to be successful in the cannabis and hemp space, we have to
have relationships with the dispensaries and retailers, who in turn have the
relationships with the end users,” TransCanna CEO Jim Pakulis stated in the
news release. “Through Goodfellas, we’ll have immediate access to many of the
most successful dispensaries in California, and retailers throughout the US. In
addition, we’ll be examining Goodfellas clientele to determine if there are
potential acquisition candidates that fit our extremely critical vetting
process.”
To view the full press release, visit http://ibn.fm/538hY
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company
providing branding, transportation and distribution services, through its
wholly-owned California subsidiaries, to a range of industries including the
cannabis marketplace. For further information, please visit the company’s
website at www.TransCanna.com
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