TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) this morning announced its entry into a definitive acquisition agreement dated July 6, 2019, to acquire The Goodfellas Group LLC, a company specializing in branding, sales and marketing in the cannabis and hemp industries. According to the update, the acquisition includes the GoodFellas sales management team and sales force, as well as its existing inhouse brands, Simple Farms and Daily Cannabis Goods. Goodfellas also represents third party cannabis brands, including Biovelle, a CBC-infused coconut oil that TransCanna proposes to acquire. “As represented in our investor conference call last week we’ve accomplished the first goals we had previously set out to complete. Identify a scalable facility which we did through the acquisition of the 196,000 sq. ft facility that recently received $8 million in renovation, and retain top tier talent to manage our operations, both of which have been accomplished,” TransCanna CEO Jim Pakulis said in the news release. “The next step is to begin and close the acquisitions we’ve lined up. This starts the acquisition process.”
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About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian-based company focused on providing integrated 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
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