TransCanna Holdings (CSE: TCAN) (XETR: TH8) today announced that it has signed a non-binding letter of intent to acquire a full service advertising and marketing agency for the cannabis and hemp industries, Goodfellas Group, LLC, from which TransCanna is already acquiring 23 branding agreements. 60 percent of acquisition price (two times the previous 12 months revenues, at the time of execution of definitive agreements, as set forth in Goodfellas audited financial statements), will be paid at closing, half of which payable in cash and half payable through the issuance of the company’s common shares. The remaining 40 percent of the acquisition price will be paid 12 months following the closing. “It’s critically important that in order for our future brands to be successful in the cannabis and hemp space, we have to have relationships with the dispensaries and retailers, who in turn have the relationships with the end users,” TransCanna CEO Jim Pakulis stated in the news release. “Through Goodfellas, we’ll have immediate access to many of the most successful dispensaries in California, and retailers throughout the US. In addition, we’ll be examining Goodfellas clientele to determine if there are potential acquisition candidates that fit our extremely critical vetting process.”
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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 further information, please visit the company’s website at www.TransCanna.com
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