TransCanna Holdings (CSE: TCAN) (FSE: TH8), through its affiliate TCM Distribution Inc. (“TCMD”), has secured local licenses in Adelanto, California, and recently secured a California temporary distribution license. In addition, TransCanna also completed its initial public offering (“IPO”) for total gross proceeds of C$2.2 million, which will be used to fund its general working capital for the next 12 months including its entry into California’s cannabis transportation and branding market, per a prospectus filed on SEDAR in December (http://nnw.fm/lMN9w). A recent article discussing the company reads, “Transporting cannabis products in California remains challenging in the months following full legalization because of a patchwork variety of local and state regulations. Companies regulated by the U.S. Department of Transportation are barred from transporting the material, because cannabis sales remain illegal under federal law. . . . ‘Cannabis distribution and transportation is a relatively new sector of the overall cannabis industry in California, as a result of the state of California regulating all cannabis related activities effective January 1, 2018,’ the prospectus reads. ‘There are various types of licenses issued by the state of California in the cannabis industry, of which TCMD is applying for a cannabis distributor and transportation license. Currently there is a limited pool of distribution and transportation companies operating in this area.’”
To view the full article, visit http://nnw.fm/ZLu9H
About TransCanna Holdings Inc.
TransCanna Holdings is a Canadian-based company providing branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace. For further information, please visit the company’s website at www.TransCanna.com.
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]