On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) Completes Acquisition of Large California Site with Closed-Loop Cannabis Production Potential

  • TransCanna Holdings’ purchase of a 5.5-acre site in Northern California with a 196,000-square-foot facility onsite is expected to set the stage for the company’s self-contained ecosystem to create or acquire 15 premium brands by controlling all aspects of production, distribution and sales
  • Cannabis sales in California are expected to reach $5.1 billion this year and climb to $7.7 billion by 2022
  • TransCanna’s site purchase advances plans for an additional 600,000-square-foot facility for biomass growth
  • A successful, oversubscribed private placement raised gross proceeds of C$16 million to help fund plans for the site

Cannabis branding and distribution company TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) has finalized the acquisition of “arguably the largest vertically integrated cannabis centric” multi‐purpose facility in California, setting the stage for edification of a self-contained cannabis hub operation that includes integrated divisions for transportation and distribution, cultivation and nursery, lab extraction, manufacturing and packaging.

The three-story, 196,000-square-foot facility is part of a larger 5.5-acre property purchase that the company envisions as green space, where up to 600,000 square feet of new structure can be built to grow TransCanna’s own biomass for its brands.

“Simultaneous to putting our efforts into purchasing the facility, we’ve been searching extensively for the key individuals who will be overseeing the day to day operations. We’ve made great strides over the past several weeks and should be able to start making announcements by the end of the month,” TransCanna CEO Jim Pakulis stated in a news release (http://cnw.fm/G24ol).

The total purchase price was $15 million. The seller of the building agreed to a carry-back note of $6.75 million at seven percent interest for up to 13 months, with an initial maturity date of October 15 and the possibility of a six-month extension under a share and share warrant issuance agreement.

A brokered private placement for five million units of shares and warrants to help fund the purchase was increased to eight million units for gross proceeds of C$16 million after the investment vehicle was oversubscribed in March (http://cnw.fm/vIQ8B).

The seller completed $8 million in renovation improvements prior to the purchase to bring parts of the site’s potential up to U.S. Department of Agriculture standards for safety and sanitation in processing biomass, with cannabis packaging and processing equipment included. Making the existing facility operational would require an additional investment of approximately $1.5 million. The structure has not yet been licensed for cannabis production, but TransCanna expects to use it for the varied aspects of its cannabis production and distribution operations as those permissions are granted.

“We believe the consistency in our ecosystem that we can offer, and the scale that we can create, will result in TransCanna owning a portfolio of premium brands that will materially benefit the retailer and their customers,” Pakulis added (http://cnw.fm/VZh4Z).

Analysts at Arcview Market Research, partnering with BDS Analytics, forecast a legal cannabis market in the United States that will experience double-digit growth from 2018 to 2022, passing $23 billion in sales by 2022 with a 22 percent CAGR (http://cnw.fm/Am03Y). A Cannabis Business Plan report predicts that California’s cannabis market will reach $7.7 billion in annual revenues by 2022 (http://cnw.fm/6QOcU), while BDS Analytics expects sales of cannabis to hit $5.1 billion this year in California alone (http://cnw.fm/KGqq2).

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
303.498.7722 Office


Select A Month

Official NewsWire Relationships

Benzinga Cannabis Capital Conference Cannabis Business Summit & Expo 2019 Cannabis Drinks Expo Cannabis World Congress & Business Exposition MjMicro Conference New England Cannabis Network O'Cannabiz Conference & Expo USA CBD Expo

CannabisNewsWire Currently Accepts



Bitcoin Cash

Bitcoin Cash





USD Coin

USD Coin

Contact us: 303.498.7722