Company News

TransCanna Appoints Chief Operating Officer

Vancouver, British Columbia--(Newsfile Corp. - July 29, 2021) - TransCanna (CSE: TCAN) (FSE: TH8) (the "Company") is pleased to announce that it has promoted Alan Applonie from the role of General Manager to Chief Operating Officer.

"Alan has proven himself to be an incredible asset to our Company. His application of his leadership experience in industrial agriculture and consumer packaged goods has already made a huge impact on our company," said Bob Blink, TransCanna CEO. "Perhaps most significantly, Alan has been able to help us create an efficient, organized, and success-oriented workplace culture, and he has won the respect of employees across all departments."

Mr. Applonie has over 25 years of start-up management experience leading multiple companies from infancy to growth of over $100M USD. His deep areas of expertise include world-class team building, project management, data analytics, scaling businesses, and establishing operational efficiencies. He has held leadership positions with multinationals such as Kraft Foods, Trident Seafoods, and Taylor Farms.

He first joined TransCanna in June 2019 as General Manager in the midst of the Company's purchase of its 196,000 square foot Daly facility, and during the acquisition of its major subsidiary Lyfted Farms. During his two-year tenure as General Manager, he successfully increased production at an existing facility by 150%, oversaw Phase 1 construction at the new facility, migrated operations from cash payments to real banking, and implemented HR management systems, employee training systems, workplace compliance safety measures, and KPI's for every department, as well as weekly financial reporting systems.

"It's been rewarding and worthwhile work getting the infrastructure in place in order to massively scale operations for TransCanna," said Mr. Applonie, "Now with all the pieces in place, and an unprecedented amount of plants in process, we can see the clear path towards significant profitability in the very near future. The best is yet to come."

In his new role as Chief Operating Officer, Mr. Applonie will lead and execute on TransCanna's organizational strategy as it scales its cultivation production capacity and launches into new verticals such as 3rd party processing, manufacturing, distribution and crop management services. Most crucially, he will be implementing the necessary enterprise management ecosystems required to support TransCanna as it embarks its mission to be the largest vertically integrated cannabis conglomerate in California.

About TransCanna

TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.

TransCanna's wholly owned subsidiary Lyfted Farms is California's authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new cultivation facility in Daly, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.

For updated information with respect to our company, please see our filings on SEDAR at www.sedar.com and on the CSE at www.thecse.com, or visit the Company's website at www.transcanna.com. To contact the Company, please email info@transcanna.com.

On behalf of the Board of Directors
Bob Blink, CEO

Corporate Communications:
info@transcanna.com
604-200-8853

FORWARD LOOKING INFORMATION:

Certain information in this release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding production increases and financings. This information is based on current expectations and assumptions, including assumptions concerning the completion of the expansion of the Daly Facility, government approval of pro-cannabis policies, greater access to financial services and increased cultivation capacity, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include unexpected increases in operating costs, a continued strain on farmers due to fires and the Coronavirus pandemic and competition from other retailers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this release are made as of the date of this release and are included for the purpose of providing information about management's current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91513

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