TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) today announced that it has entered into a sub-lease agreement for 10,000 square feet of an Adelanto, California-based multipurpose facility. According to the update, the sub-lease agreement covers a term of four years at $2.00 per square foot per month. “As we’ve represented since the commencement of TransCanna, it’s crucial to have a main facility, which we now have with the acquisition of the 196,000 square foot vertically integrated facility in Modesto, and up to five satellite facilities located strategically throughout the state,” TransCanna CEO Jim Pakulis stated in the news release. “This is in preparation for TransCanna to provide our clients with up to fifteen reliable, consistent branded products in a timely manner. In order to do that to scale, we needed to have a significant size nursery, grow, manufacturing, bottling, baking, extracting, and transportation and distribution facility and satellite offices, which we now have. Separately but related, we negotiated lease terms that are approximately thirty percent below market rates, with the added benefit of a completely fenced complex and armed security guards present at all times.”
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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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