TransCanna (CSE: TCAN) (FSE: TH8) ("the Company") is pleased to announce that plants are going into its first crop management site today - a greenhouse in Wesley, California.
The Company partnered with the 3rd generation cannabis farmers at 365 CannaFarms to consult on the construction of the state-of-the-art, computer-controlled greenhouse and to help manage the crop for the client, Central Valley Growers. The entire crop is comprised of premium genetic strains from Lyfted Farms, TransCanna's wholly-owned subsidiary.
"This project combines the 'best-in-class' expertise of Cannabis 365 who are famous in the industry for their ability to cultivate top-shelf greenhouse flower, and our Lyfted Farms Master Cultivators who are famous for their strains and expertise in cultivating top-shelf indoor flower," said Bob Blink, TransCanna CEO.
The client, Central Valley Growers, is a family-run company with over 25 years of history in traditional agriculture that had sought out Lyfted Farms specifically for its potent, premium genetic strains. The contract began this summer and involved advising on the construction of a 22,000 square foot, fully automated light deprivation glass greenhouse with computer controlled light curtains, cooling, heating and humidity systems.
Central Valley Growers is using Lyfted Farms genetics with the intent to produce live resin and cured resin concentrates, which require the highest quality strains and cultivation parameters. Producing live resin also requires high quality cold storage of the freshly cut plant, which TransCanna will also provide.
"This project is a perfect example of what we can offer 3rd party cannabis growers: crop management, processing, and cold storage services all in one contract," said Mr. Blink.
The Company can also provide packaging, white labelling and distribution services throughout the State of California.
"This first successful contract will be a shining example of what we can offer California growers," said Mr. Blink. "We intend to be the go-to 'one-stop-shop' for indoor and greenhouse growers throughout the state."
California currently has 3,637 licensed cannabis greenhouse cultivation sites.
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. Visit the TransCanna website today at transcanna.com.
For updated information with respect to our company, please see our filings on SEDAR at www.sedar.com and on the CSE at www.thecse.com, or visit the Company's website at www.transcanna.com. To contact the Company, please email firstname.lastname@example.org.
On behalf of the Board of Directors
Bob Blink, CEO
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.
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