- Acquisition
of Goodfellas Group LLC includes innovative, user-friendly cannabis
package “Simple Kit” to help first-time users achieve a positive
experience
- Company
is creating a distribution network throughout California to serve the
state’s $8.6 billion cannabis industry
- Recently
closed an IPO funding share sale to bring in aggregate gross proceeds of
C$2.2 million
- U.S.
legal cannabis industry projected to reach $23.4 billion in consumer
spending in 2022, growing at a 22 percent CAGR from 2017-2022
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8), which specializes
in supporting clients involved in nearly every aspect of the cannabis-related
eco-system, is adding another strategic layer to its growing portfolio. The
company’s acquisition of Goodfellas Group LLC, a full-service advertising and
marketing agency that specializes in the cannabis and hemp industries, brings
with it an innovative cannabis “Simple Kit.” Part of Goodfellow’s in-house
brand, “Simple,” the kit is designed to help first-time cannabis users have a
pleasant experience in a simple, safe manner, according to a joint news
release (http://ibn.fm/Uf7XK).
The Simple Kit comes with a user-friendly box as its
packaging, which, when opened, can be transformed into a tray. Within the box
comes a childproof container/grinder that is also waterproof and airtight, a
portion of cannabis, filter tips, a cannabis scoping device and rolling papers.
The Simple Kit has already been introduced to some California cannabis
dispensaries and is expected to be introduced to all legal cannabis counters
once the sale of Goodfellas to TransCanna is complete.
“The Goodfellas team reversed engineered the cannabis
experience and brought it back to the beginning. Our driving question within
the company was, how can we help and assist a consumer who hasn’t had cannabis
in 30 or 40 years, begin to enjoy cannabis again,” Nam Tran, Managing Member of
GoodFellas, said in the release. “Whether it’s for medicinal or recreational
purposes, we believe the Simple Kit is an ideal product to help anyone start
enjoying cannabis.”
A new report issued by Arcview Market Research in
partnership with BDS Analytics projects that the legal cannabis space in the
U.S. will experience double-digit growth from 2018 to 2022. According to the
report, “The State of Legal Marijuana Markets, Sixth Edition,” consumer
spending on legal cannabis products in the U.S. was expected to reach $11
billion in 2018 and climb to more than $23 billion by 2022, growing at a 22
percent compound annual growth rate over the five-year period (http://ibn.fm/GDmoV).
Jim Pakulis, CEO of TransCanna, said that the company was
intrigued and excited by the concept of branding a user-friendly, all-in-one
cannabis package and sees a bright future ahead for the Simple Kit.
“An exceptional product for the times. We’re witnessing an
unprecedented number of patients and consumers participating with cannabis. The
Simple Kit is innovative, simple and easy to use. Conditional on the acquisition,
we look forward to expanding the Simple Kit throughout California,” Pakulis
said in the joint news release.
For the first time in its history, the World Health
Organization has suggested that cannabis be “rescheduled” from its current
position as a highly regulated drug to a less restrictive schedule, citing
evidence that “preparations of cannabis have shown therapeutic potential for
treatment of pain and other medical conditions,” as an article in Newsweek reads (http://ibn.fm/PwJUx). The WHO
Expert Committee on Drug Dependence also recommended that cannabidiol (“CBD”)
containing no more than 0.2 percent THC should be removed from all
international drug control conventions.
TransCanna is strategically creating a distribution network
throughout California that places its facilities no further than a three-hour
drive from most any client. The company is in the process of leasing or
purchasing properly licensed and permitted warehouses strategically located throughout
California, along with new secure trucks, sprinter vans and/or armored
vehicles.
Through its affiliate, TCM Distribution Inc. (“TCMD”),
TransCanna has secured local licenses in Adelanto, California, and recently
secured a California temporary distribution license. In addition, TransCanna
also completed its initial public offering 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, as a recent article details (http://ibn.fm/0xXL7).
For more information, visit the company’s website at www.TransCanna.com
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Editor@QualityStocks.com
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