TransCanna Signs LOI with Persuasion Brewing Co. to Create CBD-Infused Non-Alcoholic Beer


Ryan Allway

May 9th, 2019

News, Top News


VANCOUVER, British Columbia, May 09, 2019 (GLOBE NEWSWIRE) — via NetworkWire – Transcanna Holdings Inc. (CSE:TCAN: XETR: TH8) (“TransCanna” or the “Company”) is pleased to announce the execution of a non-binding letter of intent with Persuasion Brewing Co. (“Persuasion” or “PBC”), a private brewing company located in Modesto, California.  Both companies have agreed to create a division within TransCanna’s recently purchased 196,000-square-foot vertically integrated facility (the “Facility”) to establish a Persuasion Brewing division, which will produce a variety of different CBD infusion non-alcoholic beers.  Terms of the LOI include TransCanna’s exclusive rights to the private labeled beers created at the Facility; a three-year commitment from Persuasion with a 180-day termination provision; compensation due to PBC for services rendered, which is to be determined based on a percentage of sales to dispensaries; and TransCanna to pay for the necessary equipment, including the canning and bottling lines.  Both parties agree to adhere to all local and state laws.  Completion of the transactions contemplated by the LOI remain subject to negotiation of final terms and completion of definitive documentation.

“Our 196,000-square-foot vertically integrated, cannabis-focused facility is perfectly designed to have a comprehensive bottling and canning line for multiple types of beverages. However, we firmly believe that our first beverage product subject to receipt of the appropriate licenses should be a private labeled non-alcoholic CBD-infused beer.  We believe it’s the least expensive method to generate the greatest margins as quickly as possible, and that will continue to differentiate us from others in the marketplace,” stated Jim Pakulis, CEO of TransCanna.

“The few companies in California that are currently in the non-alcoholic CBD-infused sector, based on my personal research, have done extremely well financially,” stated Chad Swan, president of Persuasion Brewing Co. “TransCanna is supplying the facility, capital, software, distribution and marketing platform, and we’ll supply the intellectual property and knowhow to create a superb CBD-infused non-alcoholic beer.  We currently have 16 various styles of beer on tap or in kegs, so to expand into this market is a natural fit.  And the fact that the brewery is only a five-minute drive to TransCanna’s facility makes the logistics of moving equipment and staffing streamlined.”

The owner of Persuasion, Chad Swan, was a principal of the company that owned the Facility recently purchased by TransCanna.  As previously reported, Mr. Swan’s company that owned the facility received 1.2 million warrants at US$2.60 and 500,000 restricted shares of TransCanna.

About TransCanna Holdings Inc.

TransCanna Holdings Inc. is a Canadian-based company focused on providing integrated 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 or email the Company at info@transcanna.com.

On behalf of the Board of Directors

James Pakulis
Chief Executive Officer

Telephone: (604) 609-6199

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to:  the potential terms of the transaction, the ability of the Company to complete the transactions contemplated by the LOI and the receipt of necessary permitting. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Corporate Communications:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkWire.com

 

 

Source: GlobeNewswire (May 9, 2019 – 3:15 AM EDT)

News by QuoteMedia

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading