TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) on Saturday announced its entry into an exclusive agreement for the acquisition of Lifestyle Delivery Systems Inc. (CSE: LDS) (FSE: LD6) (WKN: A14XHT) (OTCQX: LDSYF) (“LDS”). According to the update, the companies will negotiate a proposed business combination that’s expected to involve TransCanna’s acquisition of all outstanding common shares of LDS at a price equal to the greater of $51,660,140 payable in common shares of TransCanna and the amount resulting from a fixed exchange ratio of one TransCanna common share for every 10 LDS common shares. “This has the potential to be a transformative acquisition by TransCanna. The combined company will expedite our processes and corporate goals by at least 24 months,” TransCanna CEO Jim Pakulis said in the news release. “TransCanna will be revenue generating, with the ability to immediately scale throughout California.”
To view the full press release, visit http://ibn.fm/5kZTh
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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