TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has developed a comprehensive strategy for a four phase expansion of sales and fulfillment in the Northern and Southern California markets for all TransCanna brands.
Phase 1 has been initiated and includes Lyfted Farms expanding the geographic reach of its distribution into dispensaries and deliveries in major northern California markets such as Sacramento and San Francisco. For the first time, dispensaries and customers in those markets will have access to all TransCanna brands. The company will bolster their sales team and onboard an additional 50 of the most productive retailers in those markets by end of Q1 2020.
Phase 2 is scheduled for the beginning of Q1 2020 and will focus on the distribution services. The Company will be installing state of the art packaging equipment that will increase productivity and efficiencies for the purpose of onboarding additional co-packing and fulfillment clients such as cultivators, manufacturers, and microbusinesses. They will also increase the number of delivery vehicles. This will enable TransCanna to leverage its service capacity to increase the number of brands delivered to dispensaries and retailers.
The company will start Phase 3 in Q2 of 2020 with a broad scale sales initiative focused on the penetration of TransCanna brands into the greater southern California market. Los Angeles represents the largest cannabis and edibles market in California and will require a targeted strategy for fulfillment and sales. The company is projecting to procure an additional 75 dispensaries and deliveries in the greater Los Angeles region by end of Q3 2020.
Phase 4 will be the build out of over 20,000 square feet of distribution in the company owned Daly building in Modesto, that facility and will be in operation by end of Q2 2020. Production, sales and third-party services will scale exponentially by end of Q4 2020.
“We see distribution as a key to the success of our strategic plan. There is great demand for all our products and as we expand the number of brands in our portfolio controlling the distribution channels will differentiate us from our competition” said Steve Giblin CEO of TransCanna.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed, company building Cannabis focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to: timing of the completion of the SPA and the satisfaction of closing conditions, and the expected benefits of Lyfted to the Company’s business. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
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