TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) today
announced that it has entered into a sub-lease agreement for 10,000 square feet
of an Adelanto, California-based multipurpose facility. According to the
update, the sub-lease agreement covers a term of four years at $2.00 per square
foot per month. “As we’ve represented since the commencement of TransCanna,
it’s crucial to have a main facility, which we now have with the acquisition of
the 196,000 square foot vertically integrated facility in Modesto, and up to
five satellite facilities located strategically throughout the state,”
TransCanna CEO Jim Pakulis stated in the news release. “This is in preparation
for TransCanna to provide our clients with up to fifteen reliable, consistent
branded products in a timely manner. In order to do that to scale, we needed to
have a significant size nursery, grow, manufacturing, bottling, baking,
extracting, and transportation and distribution facility and satellite offices,
which we now have. Separately but related, we negotiated lease terms that are
approximately thirty percent below market rates, with the added benefit of a
completely fenced complex and armed security guards present at all times.”
To view the full press release, visit http://ibn.fm/cjXtB
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 more information, visit the company’s
website at www.TransCanna.com.
NOTE TO INVESTORS: The latest news and updates
relating to TCAN are available in the company’s newsroom at http://ibn.fm/TCAN
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