Vancouver, British Columbia--(Newsfile Corp. - May 13, 2020) - TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("TransCanna" or the "Company") is pleased to announce that its wholly-owned subsidiary, Lyfted Farms, has recently executed a lease on property in Lemoore, California that has received approval for a 'rezoning' to 'Industrial.' The newly approved 'Industrial' zoning designation makes the facility eligible for cannabis delivery, along with distribution, manufacturing, and cultivation activities following the anticipated approval of a Conditional Use Permit and Development Agreement, applications for which are currently being finalized.
The company has also filed entity registration documents with the California Secretary of State under the name Lyfted Farmacy Inc., to create a new subsidiary with the intention of this business unit being dedicated to delivery. By doing so, TransCanna gains another important business component to complete the supply chain from grow operations to delivery in the California cannabis market (the largest legal market in the world), which is projected to expand exponentially.
"The city of Lemoore has been a great partner to work with. They have been highly responsive and professional partners, especially in this first step towards setting up a fully operational distribution and delivery hub," says Bob Blink, TransCanna CEO. "The city has really opened their door to Lyfted Farms and been welcoming of our business."
Creating this subsidiary with a focus on delivery, says Blink, is also part of the companies' strategy to service customers in the current environment and at a time when consumer behaviors are affected by potential store closures and safety measures aimed at avoiding the spread of the coronavirus.
"We wanted to make sure that we could get higher-quality products from our facility to our customer's doors in a safe manner," says Blink. "Having come from diverse industries and bringing this breadth of knowledge to TransCanna means that our management team will continue looking for opportunities to remain highly responsive to changing market demands, and our customers evolving needs."
This announcement follows news by the company released last week reporting the companies' quarterly results and record monthly revenue earnings, and a recent announcement that renowned cannabis and lifestyle brand, Cookies, will carry Lyfted Farms products in select locations.
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.
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.
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