- TransCanna
Holdings is working to establish 15 premium cannabis brands during the
next two years in California, the world’s largest cannabis market
- TransCanna’s
wholly owned TCM Distribution subsidiary is celebrating the recent
acquisition of temporary manufacturing and distribution permits while
continuing to seek state permits and permanent licenses
- The
permits advance production efforts at TransCanna’s 10,000-square-foot
satellite operation in Adelanto, California
- The
City of Adelanto recently reduced taxes on cannabis transportation, lab
services, cultivation enterprises and dispensaries
- TransCanna
has signed an LOI to acquire Soldaze cannabis-infused fruit snacks, which
has just added to its product line with a Spicy Mango entry
- TransCanna
plans to centralize its statewide operations with a 196,000-square-foot
self-contained facility in Modesto, California
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) has
received manufacturing and distribution permits for its adult-use cannabis
production satellite in Southern California, marking its latest step forward in
building an industry empire within the world’s largest marketplace for the
lifestyle culture plant.
TransCanna’s 10,000-square-foot facility in Adelanto,
California, will serve as a distribution satellite for goods transported to the
Southern California region from the company’s 196,000-square-foot
cannabis-focused hub in Modesto. The Adelanto facility will also serve as a
site for the production, packaging and distribution of pre-rolled cannabis
products and other products of similar nature, according to the company’s news
release about the permits (http://ibn.fm/EXz2G).
The Adelanto City Council also provided encouragement to
TransCanna’s operations, voting to reduce its local taxes from five percent to
one percent on cannabis transportation and lab services, five percent to three
percent on dispensaries, and $5 per month per square foot down to 42 cents per
month per square foot on cannabis cultivation enterprises.
With the temporary permits in hand, the company’s wholly
owned subsidiary, TCM Distribution Inc., is continuing to pursue permanent
licenses for cannabis manufacturing and distribution, as well as the needed
state permits.
“GoodFellas, one of the entities the Company is preparing to
acquire, will be transferring all revenue generating distribution and manufacturing
processes to Adelanto once the facility receives its Certificate of Occupancy
from the city, and state distribution and manufacturing permits,” TransCanna
CEO Jim Pakulis stated in a news release. “We anticipate this being completed
by the end of June.”
GoodFellas is a full-service cannabis advertising and
marketing agency with established consumer demand and ‘SKU velocity’ in its
brand, Daily Cannabis Goods, which launched last August. The Daily brand has
three quality, half-gram pre-rolled joints, and TransCanna plans to add three
more SKUs once the acquisition is complete (http://ibn.fm/jBumg).
TransCanna’s empire-building strategy includes the
establishment of 15 premium brands, with some of the brands expected to reach
store shelves by the end of 2019. To further that end, the company has signed a
non-binding letter of intent to acquire the branding asset package Soldaze, a
cannabis-infused fruit snacks producer in California. Soldaze recently announced
that its award-winning fruit snack brand has begun receiving pre-orders for its
new Spicy Mango line, which it intends to begin shipping next month (http://ibn.fm/OtgMa). Soldaze
president and co-founder Shawn Shevlin will lead TransCanna’s newly formed
branding division in overseeing statewide sales, working from TransCanna’s
Modesto hub as the acquisition agreement is completed (http://ibn.fm/xBG6p).
The Modesto hub facility is a three-story, multi-purpose
building that’s expected to serve up to five satellites statewide as TransCanna
grows. The self-contained cannabis operation is anticipated to include
integrated divisions for transportation and distribution, cultivation and
nursery, lab extraction, and manufacturing and packaging on a 5.5-acre property
parcel that the company envisions as holding space for about 400,000 square
feet of new indoor growing operations, Pakulis said during an eight-minute
video tour of the large Modesto facility for The Green Scene Podcast (http://ibn.fm/tkKSM).
“We have so much growth ahead of us, it’s crazy,” Pakulis
added.
For more information, visit the company’s website at www.TransCanna.com
NOTE TO INVESTORS: The latest news and updates
relating to TCAN are available in the company’s newsroom at http://ibn.fm/TCAN
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