IRW-News: TransCanna Holdings Inc .: California grants cannabis cultivation license to TransCanna | 02/20/21

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IRW-PRESS: TransCanna Holdings Inc .: California grants cannabis cultivation license to TransCanna

Groundbreaking success for the emerging cannabis company

Canadian Securities Exchange: TCAN

Frankfurt Stock Exchange: TH8

OTC: TCNAF

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Vancouver, British Columbia, February 20, 2021 – TransCanna Holdings Inc. (CSE: TCAN: XETR: TH8) (TransCanna or the Company) is pleased to announce that the company has received a highly coveted cultivation license from the State of California with the the company can ramp up its cultivation capacities almost immediately.

 The  State of California has granted Lyfted Farms, a wholly owned subsidiary of TransCanna, a license to grow its flagship Daly facility in Modesto, California. Commenting on this, Bob Blink, CEO of TransCanna: It is notoriously difficult to obtain a cultivation license in this region. Current applications are backlogged and the county will not consider processing them until the end of 2021.

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 The  license marks an important milestone for TransCanna in its endeavor to become California’s leading fully integrated cannabis cultivation, processing, manufacturing, wholesale and distribution company.

Obtaining this license marks a significant turning point for TransCanna and paves the way for the explosive growth we are poised for, continued Bob Blink. © www.de24.news

 The  demand for our exotic indoor cannabis strains is consistently exceeding supply and now that this new huge facility has received approval to grow, we can finally meet that demand and continue our expansion. This will make us one of the largest licensed facilities of its kind in the California state.

In addition to cultivation, the new Daly facility will also allow TransCanna to expand its product range and establish its dominant position in the Californian cannabis supply chain.

© www.de24.news

 The  Daly facility will serve as an anchor for the other TransCanna operations, as well as a supply chain hub for third party operations throughout Northern California, providing safe storage, concentrate manufacturing, wholesale marketing, white label service and state-wide distribution.

Before receiving the cultivation license, the plant received its distribution license in June 2020. Next, TransCanna is eagerly awaiting the granting of the processing license (approval from the State of California expected in mid to late March), which will enable the company to obtain approval to dry, harden, cut, sort, and package cannabis on site receives. In addition to the time and cost savings for house brands through on-site processing, TransCanna also opens up new sources of income with the processing license, as it can offer services to external growers.

© www.de24.news

 The  California cannabis market has a sales volume of $ 5 billion and is growing, and we are well on our way to becoming the epicenter of the entire supply chain in California with our cultivation, processing, wholesale and distribution branches, said TransCanna CEO Bob Blink .

About TransCanna

TransCanna Holdings Inc. is a Canada-listed company based in California, USA, that develops cannabis brands for the California lifestyle through its wholly-owned California subsidiaries.

TransCanna’s wholly owned subsidiary, Lyfted Farms, is California’s authentic cannabis brand with a pioneering spirit that has consistently offered the best cannabis flower genes and growing methods since 1984. Lyfted Farms’ exclusive cannabis flowers are available from high quality retailers across California. With its new grow facility in Daly, California, the company is now positioned to become one of the largest and most efficient vertically integrated cannabis companies in the California market.

For the most current information about our company, please refer to our corporate disclosure records on SEDAR (www.sedar.com) or the CSE website (www.thecse.com).

Forward-looking information

Certain information in this press release may contain forward-looking statements, such as statements about future expansion and cost savings, as well as plans to increase production and financing. This information is based on current expectations and assumptions, including assumptions regarding the completion of the Daly facility expansion, government approval of a pro-cannabis policy, better access to financial services and increased growing capacity, which are subject to significant risks and uncertainties that are severe are to be predicted. Actual results could differ materially from the results implied in the forward-looking statements. Risks that could cause results to differ from those set forth in the forward-looking statements in this release include unexpected increases in operating costs, continued exposure to farmers from fire and the coronavirus pandemic, and competition from other retailers . All forward-looking statements contained in this release, including any financial projections or forward-looking financial information, speak only as of the date of this release and serve the purpose of providing information about management’s current expectations and plans for the future. © www.de24.news

 The  company assumes no obligation to update the forward-looking statements or update the reasons why actual results may differ from those reflected in the forward-looking statements, unless and until this is required by the securities laws applicable to the company. Additional information highlighting risks and uncertainties is contained in filings the company has filed with the Canadian Securities and Exchange Commission. © www.de24.news

 The se documents are available at www.sedar.com.

© www.de24.news

 The  Canadian Securities Exchange (the CSE) and its regulatory bodies (referred to as the Regulation Services Provider in the CSE’s articles of association) assume no responsibility for the adequacy or accuracy of this release.

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 The  source language (usually English) in which the original text is published is the official, authorized and legally valid version. This translation is included for better understanding. © www.de24.news

 The  German version can be shortened or summarized. No responsibility or liability is assumed for the content, correctness, appropriateness or accuracy of this translation. From the perspective of the translator, the message does not constitute a buy or sell recommendation! Please note the original English report on www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company website!

© www.de24.news

 The  original English report can be found under the following link:

https://www.irw-press.at/press_html.aspx?messageID=56828

You can find the translated message under the following link:

https://www.irw-press.at/press_html.aspx?messageID=56828&tr=1

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IRWNews TransCanna Holdings California grants cannabis cultivation license TransCanna

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