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TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) Celebrates Manufacturing, Distribution Permits as Latest California Cannabis Advances

  • TransCanna Holdings is working to establish 15 premium cannabis brands during the next two years in California, the world’s largest cannabis market
  • TransCanna’s wholly owned TCM Distribution subsidiary is celebrating the recent acquisition of temporary manufacturing and distribution permits while continuing to seek state permits and permanent licenses
  • The permits advance production efforts at TransCanna’s 10,000-square-foot satellite operation in Adelanto, California
  • The City of Adelanto recently reduced taxes on cannabis transportation, lab services, cultivation enterprises and dispensaries
  • TransCanna has signed an LOI to acquire Soldaze cannabis-infused fruit snacks, which has just added to its product line with a Spicy Mango entry
  • TransCanna plans to centralize its statewide operations with a 196,000-square-foot self-contained facility in Modesto, California

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) has received manufacturing and distribution permits for its adult-use cannabis production satellite in Southern California, marking its latest step forward in building an industry empire within the world’s largest marketplace for the lifestyle culture plant.

TransCanna’s 10,000-square-foot facility in Adelanto, California, will serve as a distribution satellite for goods transported to the Southern California region from the company’s 196,000-square-foot cannabis-focused hub in Modesto. The Adelanto facility will also serve as a site for the production, packaging and distribution of pre-rolled cannabis products and other products of similar nature, according to the company’s news release about the permits (http://cnw.fm/Yz8vT).

The Adelanto City Council also provided encouragement to TransCanna’s operations, voting to reduce its local taxes from five percent to one percent on cannabis transportation and lab services, five percent to three percent on dispensaries, and $5 per month per square foot down to 42 cents per month per square foot on cannabis cultivation enterprises.

With the temporary permits in hand, the company’s wholly owned subsidiary, TCM Distribution Inc., is continuing to pursue permanent licenses for cannabis manufacturing and distribution, as well as the needed state permits.

“GoodFellas, one of the entities the Company is preparing to acquire, will be transferring all revenue generating distribution and manufacturing processes to Adelanto once the facility receives its Certificate of Occupancy from the city, and state distribution and manufacturing permits,” TransCanna CEO Jim Pakulis stated in a news release. “We anticipate this being completed by the end of June.”

GoodFellas is a full-service cannabis advertising and marketing agency with established consumer demand and ‘SKU velocity’ in its brand, Daily Cannabis Goods, which launched last August. The Daily brand has three quality, half-gram pre-rolled joints, and TransCanna plans to add three more SKUs once the acquisition is complete (http://cnw.fm/obND5).

TransCanna’s empire-building strategy includes the establishment of 15 premium brands, with some of the brands expected to reach store shelves by the end of 2019. To further that end, the company has signed a non-binding letter of intent to acquire the branding asset package Soldaze, a cannabis-infused fruit snacks producer in California. Soldaze recently announced that its award-winning fruit snack brand has begun receiving pre-orders for its new Spicy Mango line, which it intends to begin shipping next month (http://cnw.fm/TBxJ1). Soldaze president and co-founder Shawn Shevlin will lead TransCanna’s newly formed branding division in overseeing statewide sales, working from TransCanna’s Modesto hub as the acquisition agreement is completed (http://cnw.fm/8wYgK).

The Modesto hub facility is a three-story, multi-purpose building that’s expected to serve up to five satellites statewide as TransCanna grows. The self-contained cannabis operation is anticipated to include integrated divisions for transportation and distribution, cultivation and nursery, lab extraction, and manufacturing and packaging on a 5.5-acre property parcel that the company envisions as holding space for about 400,000 square feet of new indoor growing operations, Pakulis said during an eight-minute video tour of the large Modesto facility for The Green Scene Podcast (http://cnw.fm/fNd2D).

“We have so much growth ahead of us, it’s crazy,” Pakulis added.

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://cnw.fm/TCAN

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