TransCanna Holdings (CSE: TCAN) (FSE: TH8), through its
affiliate TCM Distribution Inc. (“TCMD”), has secured local licenses in
Adelanto, California, and recently secured a California temporary distribution
license. In addition, TransCanna also completed its initial public offering
(“IPO”) for total gross proceeds of C$2.2 million, which will be used to fund
its general working capital for the next 12 months including its entry into
California’s cannabis transportation and branding market, per a prospectus filed
on SEDAR in December (http://ibn.fm/o8JBt).
A recent article discussing the company reads, “Transporting cannabis products
in California remains challenging in the months following full legalization because
of a patchwork variety of local and state regulations. Companies regulated by
the U.S. Department of Transportation are barred from transporting the
material, because cannabis sales remain illegal under federal law. . . .
‘Cannabis distribution and transportation is a relatively new sector of the
overall cannabis industry in California, as a result of the state of California
regulating all cannabis related activities effective January 1, 2018,’ the
prospectus reads. ‘There are various types of licenses issued by the state of
California in the cannabis industry, of which TCMD is applying for a cannabis
distributor and transportation license. Currently there is a limited pool of
distribution and transportation companies operating in this area.’”
To view the full article, visit http://ibn.fm/6pTZd
About TransCanna Holdings Inc.
TransCanna Holdings 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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