CSE New Listing – Transcanna Holdings Inc. Commences Trading on the Canadian Securities Exchange – Video News Alert on Investmentpitch.com
January 10th, 2019
Vancouver, British Columbia–(Newsfile Corp. – January 10, 2019) – Transcanna Holdings Inc. (CSE: TCAN) is one of the latest new listings on the Canadian Securities Exchange. The company, through two wholly-owned California subsidiaries, GF Group and Transcanna Management, provides branding, transportation and distribution services to a range of industries, including the cannabis marketplace.
The company closed an IPO, raising gross proceeds of $2.2 million from the placement of 4.4 million units priced at $0.50 per unit, with each unit consisting of one share and one warrant, with each warrant exercisable at $1.00 for 12 months, subject to an acceleration clause. Haywood Securities acted as agent on the offering.
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.
Through the GF Group, the company has secured exclusive branding and design agreements for twenty-three separate brands with cannabis-related clients. Transcanna Management, through its wholly-owned subsidiary TCM Distribution, will handle distribution and transportation services between Licensed Operators and Dispensaries in California.As at the date of its prospectus it had entered into three exclusive distribution agreements with Licensed Operators, subject to the company obtaining all necessary distribution and transportation licenses and state permits, for the provision of distribution, transportation, marketing and sales services.
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