Vancouver, British Columbia–(Newsfile Corp. – January 18, 2019) – Transcanna Holdings Inc. (CSE: TCAN) (“TransCanna” or the “Company”) is pleased to announce that TCM Distribution, Inc. (“TCMD”), the non-profit entity managed by the Company has received from the state of California its temporary distributor license. On December 31st TCMD submitted its permanent distribution license application to the state of California.
On November 23rd, 2018 TCM Distribution, Inc. had received a formal approval from the City of Adelanto regarding the transfer of TCMD’s city issued medical marijuana transportation & distribution permit, as originally issued on December 5th, 2017, to an existing facility. The permitted facility, which is less than one thousand square feet, is located on a parcel of land in which the landlord is scheduled to build two, twenty thousand square foot cannabis related facilities, and has offered to lease one of the facilities to TCMD. TCMD is currently in negotiations with the landlord to lease one of the twenty thousand square foot facilities which when completed will have all the required power and electricity necessary to operate its distribution operations, which the previously leased property did not. As a result, TCMD is no longer seeking to build its own facility in Adelanto.
“The transfer of the Adelanto permit to an existing facility with the possibility of leasing a twenty thousand square foot facility allows us to expedite the process of getting an operational footprint in Southern California,” states Jim Pakulis, CEO of TransCanna and owner of TCMD. “We look forward to completing our negotiations with the existing landlord and reaching a favorable outcome.”
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.
On behalf of the Board of Directors
President and Chief Executive Officer
Telephone: (604) 609-6199
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to the future leasing plans of the company. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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