Vancouver, British Columbia--(Newsfile Corp. - June 17, 2020) - TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("TransCanna" or the "Company") is pleased to announce through its wholly-owned subsidiary Lyfted Farms Inc. ("Lyfted") an Inventory and Product Agreement (the "Agreement") with Cali Plug UHCC for its highly anticipated inaugural retail location. Cali Plug was founded in 2006 and is a significant influencer in the cannabis space, with approximately 200,000 Instagram followers (@caliplug).
July 2020 is the target date for the grand opening of this store. Through this Agreement, Lyfted Farms is expanding distribution into the greater Los Angeles area in collaboration with the brand new Cali Plug UHCC dispensaries www.calipluguhcc.com.
Cali Plug UHCC plans to feature the Lyfted Farms products in the new store and use their social media platforms to promote the Lyfted brand. Cali Plug has estimated foot traffic to exceed 1,000 customers daily for the downtown store. The first dispensary will be prominently located in downtown Los Angeles at 5925 South Alameda Street.
"Lyfted Farms is a powerhouse for premium indoor cultivation flower. Moving into the So-Cal market with Cali Plug flagship retail is going to be an incredible collaborative force," states Cali Plug , Owner and Founder Michael Myers. "The flower is going to fly off the shelves. The So-Cal consumers demand the quality that Lyfted Farms can produce."
Cannabis sales in California are expected to exceed U$5.1 billion for 2020, with more than half of that happening in the greater Los Angeles area. Southern California is the largest cannabis consumer market in the world.
"This Agreement helps us realize our broader strategy of aligning with authentic long-term California cannabis innovators while staying true to our end consumer," said Bob Blink, Lyfted Farms Founder and TransCanna CEO. "We continue to build out the go-to-market strategy in anticipation of imminently receiving our Daly Building license."
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
Bob Blink, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58029