TransCanna Holdings Inc. (CSE: TCAN) Signs LOI to Acquire Goodfellas Group LLC, Continuing Growth Strategy

February 4, 2019 10:52:25
  • LOI signed to acquire full-service advertising/marketing agency Goodfellas Group LLC, which serves cannabis/hemp industries throughout the U.S.
  • TransCanna recently closed IPO, generating C$2.2 million in gross proceeds
  • Principal business centers on branding, transportation, distribution, logistics and fulfillment services to California’s medical and adult-use cannabis industry
  • Selection of Purple Crown Communications Corp. of Vancouver, Canada, as IR consultant is expected to build shareholder base, attract potential investors
  • U.S. legal cannabis industry projected to reach $23.4 billion in consumer spending in 2022, growing at a 22 percent CAGR from 2017-2022

TransCanna Holdings Inc. (CSE: TCAN), which recently raised C$2.2 million through its initial public offering (“IPO”) to help finance the company’s entry into California’s cannabis distribution and branding market (, has signed a non-binding letter of intent to acquire Goodfellas Group LLC, a full-service advertising and marketing agency that specializes in the cannabis and hemp industries. The move is designed to further expand the company’s reach and continue its ongoing growth strategy.

“It’s critically important that in order for our future brands to be successful in the cannabis and hemp space, we have to have relationships with the dispensaries and retailers, who in turn have the relationships with the end users,” Jim Pakulis, CEO of TransCanna, stated in a…

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