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TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (the "Company") is pleased to announce that it has completed construction of an industrial-grade distribution site and launched third party distribution services.
As part of its Phase 1 Construction project at the 196,000 square foot facility, the Company has built out 16,000 square feet of retail-ready product storage space, installed automated, assembly-line style packaging equipment for jar and pouch production, and built out a climate-controlled area that can store 30 tractor-trailer loads of cannabis and 230 pallets positions of -40 degree Fahrenheit freezers for storing live resin and live resin products. A secure loading bay and a small in-house fleet of refrigerated trucks is also in place.
The new site capabilities, coupled with the Company's distribution license, means TransCanna can now service an unmet market need for safe, reliable, compliant storage, distribution and transportation services.
"We continually receive inquiries from producers across California looking for secure, reliable and compliant assistance with storage, merchandising, and transportation of their cannabis products," said Bob Blink, TransCanna CEO. "The strength and reputation of our brand has been driving customers to our doorstep, and now we can help them."
Contract negotiations for distribution services are underway, and the Company expects the site to be operating at full capacity when the fall outdoor cannabis harvest approaches.
The new service launch represents great progress in TransCanna's mission to provide a one-stop shop of services for the entire California cannabis industry.
Coupled with the facilities' Processor license, the Daly Ave site will provide a full suite of services ranging from climate-controlled storage for drying, curing, trimming, grading, packaging for both retail and wholesale products, secure transportation, and cash collection for an eager crowd of solution-seeking customers.
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 Modesto, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.
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 info@transcanna.com.
On behalf of the Board of Directors
Bob Blink, CEO
Corporate Communications:
info@transcanna.com
604-200-8853
FORWARD LOOKING INFORMATION:
Certain information in this release may contain forward-looking statements, such as statements regarding financial statement filing timelines, 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 DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87570