TransCanna Holdings (CSE: TCAN) (FRA: TH8) on Thursday
announced that it has closed the acquisition of all the outstanding equity
interest in Tres Ojos Naturals LLC, currently doing business as SolDaze.
TransCanna paid a purchase price comprised of a cash payment of $200,000
(including a previously paid deposit of $50,000) and the issuance of 810,000
common shares at a deemed price of $1.14 each. Another cash payment of $150,000
will be paid on November 15, 2019 to satisfy the remaining cash portion of the
purchase price. TCAN and the vendors entered into a voluntary pooling agreement
concerning the closing share consideration, which details the release of the
shares over a two-year period, subject to an increase in speed if the sales of
SolDaze products reach predetermined revenue targets. The number of shares
released may also be lowered if certain revenue targets are not met by the
dates specified.
To view the full press release, visit http://ibn.fm/NCpwx
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 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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