Construction of New Facility Under Way

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce the appointment of commercial farming and construction expert, Josh Baker, to its Board of Directors today.


The appointment comes in conjunction with the Company’s first draw down of its recently secured $2M construction loan. Mr. Baker is the US-based lender’s nominee to the Board, who will provide guidance and stewardship while the loan is deployed to increase production capacity at the Company’s Daly Facility in Modesto, California.

Mr. Baker brings a wealth of relevant experience to the Board. He is a 6th generation farmer local to the Central Valley, with decades of experience building and operating commercial and residential family farms, giving him an intimate understanding of everything that goes into agricultural construction and how to optimally and efficiently grow and market crops.

As the Board Member representing the lender’s interests, Mr. Baker will monitor the construction project and confirm when each phase is complete.

Phase One, currently underway, includes the construction of a 6,000 sq ft vegetative room, and five new cultivation rooms that can produce up to 200 lbs of harvest every two weeks.

“I’m extremely excited to join TransCanna, and would not have joined if I didn’t see the tremendous potential here,” said Mr. Baker. “The $2M construction loan will help bring it to profitability, and I really see it becoming one of the greatest cannabis companies in California in the next three years.”

Bob Blink, Company CEO, said, “Everyone has hit the ground running with this new loan. As of today, we already have new construction workers at the facility, and expect to have plants in the new cultivation rooms within the next three weeks.”

MCTO Update

The Company wishes to provide an update with respect to the previously announced Management Cease Trade Order (the “MCTO”) issued by the British Columbia Securities Commission on March 31, 2021. The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended November 30, 2020 (collectively, the “Required Filings”) before the prescribed deadline of March 30, 2021. The Company continues to work closely with its auditor and expects to file the Required Filings on or before May 31, 2021.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases. The Company confirms as of the date of this news release that there has been no material change in the information contained in the announcement issued on April 1, 2021, and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About TransCanna

TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.

TransCanna‘s wholly owned subsidiary Lyfted Farms is California’s authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new cultivation facility in Daly, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.

For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.

On behalf of the Board of Directors
Bob Blink, CEO

Corporate Communications:
irteam@transcanna.com

604-800-3589

FORWARD-LOOKING INFORMATION:

Certain information in this release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding production increases and financings. This information is based on current expectations and assumptions, including assumptions concerning the completion of the expansion of the Daly Facility, government approval of pro-cannabis policies, greater access to financial services and increased cultivation capacity, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include unexpected increases in operating costs, a continued strain on farmers due to fires and the Coronavirus pandemic and competition from other retailers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this release are made as of the date of this release and are included for the purpose of providing information about management’s current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80466

News Provided by Newsfile via QuoteMedia

Expects to file its 2020 Annual Financial Statements on or before May 31, 2021

Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTC: MMJFF) (“Matica” or the “Company”) announces today that further to our news releases of May 3, 2021, the filing of the Company’s audited annual financial statements for the year ended December 31, 2020, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Statements”) remain outstanding. As part of the Company’s biweekly status report, Matica expects that the Annual Financial Statements together with the auditor’s report thereon should be finalized within fourteen days and filed, together with Matica’s annual management’s discussion and analysis for the 2020 fiscal year, by the next business day.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), an industry leader in full spectrum cannabidiol (CBD) hemp extract wellness products and probiotics, today reported financial results for the first quarter ended March 31, 2021. All dollars are stated in US Dollars.

Q1-2021 Financial Highlights

Keep reading... Show less

Premier cannabis brand consolidator and producer of cannabis-infused products INDVR Brands (CSE:IDVR) already has an impressive portfolio of brands with Cheech’s Stash and the award-winning Honu Brand as part of its roster. 

In the interview above, INDVR Brands CEO Joshua Mann shares the company’s efforts to support its expansion plans in the US and Canadian markets through the recent acquisition of all the assets of Nevada-based Strainz and Colorado-based Bronnor.

“The Strainz acquisition means merging of two extremely well aligned companies, and it brings in the Bronnor facility that is a 25,000 square foot state-of-the-art GMP-level manufacturing facility that also aligns it with another set with 700 dispensaries of distribution in Colorado,” Mann said. 

The cannabis market is rapidly changing and as demand grows, INDVR Brands already has the capacity to eventually manufacture and distribute products for areas and populations much larger than they’re currently made for. 

“We’re seeing the scheduling of cannabis at the US federal level. And at that point, there will be a path forward whereby a facility such as the Bronnor facility will give us an ability to distribute and produce for the entire western half of the United States,” Mann continued. 

“And that’s, I think, what it was originally built for. That’s what we saw as rationale with respect to where the merger was going, how do we future-proof ourselves?”

Watch the full interview with INDVR Brands (CSE:IDVR,OTC:AOF) CEO Joshua Mann above.

Keep reading... Show less

SHAREHOLDER INVESTIGATION: Halper Sadeh LLP Investigates MFNC, SPRT, WIFI, HRVSF; Shareholders are Encouraged to Contact the Firm

Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies

Keep reading... Show less

Love Hemp Group PLC (“Love Hemp” or the “Company”) (Formerly World High Life Plc) Exercise of Warrants and Issue of Equity

Love Hemp Group PLC (AQSE:LIFE) (OTCQB:WRHLF), one of the UK’s leading CBD and Hemp product suppliers, announces that it has received notifications from warrant holders to exercise warrants over 34,814,285 new ordinary shares of 1 pence each in the share capital of the Company (the ‘New Ordinary Shares’) at a price of 1 pence per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holders for aggregate cash proceeds of £348,142. The proceeds will be used for general working capital purposes

Keep reading... Show less