TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) this morning announced its entry into a non-binding letter of intent (“LOI”), dated May 17, 2019, to acquire the business and assets of Lyfted Farms Inc. Based in Modesto, California, Lyfted Farms is a state licensed producer of high quality indoor grown cannabis and owns three permanent state licenses for cultivation (nursery), cultivation (grow) and distribution. “The Proposed Acquisition includes an exceptional brand, with a range of high-end flower, growing revenues, fifty exotic and unique genetic strains and a team that’s been a staple in the Modesto valley with over two decades of cultivating experience,” TransCanna CEO Jim Pakulis stated in the news release. “In short, this is another example of an ideal acquisition candidate for TransCanna that offers SKU velocity, growing revenues and branded products that differentiate from others in the marketplace.”
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About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian-based company focused on providing integrated branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace. For more information, visit the company’s website at www.TransCanna.com
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