HempNewsBreaks – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) Enters Option Agreement to Acquire 196,000 Square Foot Cannabis Facility

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) today announced that, on February 1, 2019, it accepted an assignment of a real estate option agreement from its CEO, Jim Pakulis, to acquire an asset package that includes an existing 196,000 square foot facility on 6.5 acres of land, as well as cannabis processing and packaging equipment. Should the option be exercised, the purchase price of the property is an aggregate of $15 million, payable in cash. Over the past two years, approximately $8 million in tenant improvements have been completed to create a vertically-integrated cannabis facility at the site. The arms-length seller of the property specializes in building USDA-grade commercial HVAC facilities throughout the U.S., and this same seller performed all of the facility’s tenant improvements, the majority of which were to USDA standards.

“With the recent $8 million of tenant improvements performed, this is one of the largest cannabis focused, vertically integrated facilities in California,” TransCanna CEO Jim Pakulis stated in the news release. “The intended use of the facility will be to transfer branded companies that we acquire, or that we create, and bring them inhouse. This means we have complete control over our nursery, grow, manufacturing, extraction and distribution. 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.”

To view the full press release, visit http://cnw.fm/PWs0Q

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. For further information, please visit the company’s website at www.TransCanna.com

About HempWire

HempWire (HW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) HempNewsBreaks 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, HW 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. HW 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, HW brings its clients unparalleled visibility, recognition and brand awareness. HW is where news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.hempwire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/disclaimer/

Do you have a questions or are you interested in working with HW? Ask our Editor

HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net