ECGI Holdings (OTC: ECGI), D/B/A Elite Cannabis Group Incorporated, a Nevada-based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, today announced its entry into a letter of intent (“LOI”) toward the acquisition of the key personnel, intellectual properties, business operations, and the future business operations of Endless Consciousness Inc. (“EC”), a California corporation involved in the legal cannabis product marketplace. With the acquisition, the company will acquire all current and future planned brands developed by EC, including recently launched 8bit BUDS. “The real gem in this deal is the experienced and accomplished EC team. This team has sales experience that includes servicing over 250 stores and they have formulated and managed products reaching over 1,000 stores covering multiple states,” said ECGI CEO Danny Wong. “Based on their track record, we have full faith that this acquisition is capable of driving not only impactful shareholder value but overall profitability. To maximize results, we are targeting full integration of key personnel, IP and operations in Q3, positioning us straight at the end market. While we will sell to wholesale distributers, our current strategic plan is to go directly to dispensaries.”
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About ECGI Holdings Inc.
ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets including undercapitalized and distressed licensed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with nationwide expansion possibilities.
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