TransCanna Holdings: Acquisition of GoodFellas will Include Proprietary Brand called Simple, includes the Simple Kit

Feb 08, 2019 17:15 JST

Source: TransCanna Holdings Inc.

Vancouver, BC, Feb 08, 2019 - (ACN Newswire) - TransCanna Holdings Inc. (CSE:TCAN: XETR:TH8) ("TransCanna") is pleased to announce that subject to completing of the acquisition of Goodfellas Group, LLC ("Goodfellas"), the company will, in addition to the branding and marketing business of Goodfellas, acquire its existing in-house brand 'Simple'. Simple has created as a user friendly, smart cannabis package called the 'Simple Kit'. The Simple Kit was developed by the Goodfellas team to assist first time cannabis consumers to experience cannabis in a positive way.

The Simple Kit comes with a user-friendly box as its packaging which, when opened, can be transformed into a tray. Within the box comes a child proof container/grinder, that is also waterproof and airtight, a portion of cannabis, filter tips, a cannabis scoping device and rolling papers. The Simple Kit began its preliminary introduction to dispensaries in the last quarter of 2018. As a result of the positive feedback from consumers and dispensaries during the early stage roll out, Goodfellas expects to start offering The Simple Kit to all dispensaries in California upon the completion of the sale to TransCanna.

"The Goodfellas team reversed engineered the cannabis experience and brought it back to the beginning. Our driving question within the company was how can we help and assist a consumer, who hasn't had cannabis in 30 or 40 years, begin to enjoy cannabis again. Whether it's for medicinal or recreational purposes, we believe the Simple Kit is an ideal product to help anyone start enjoying cannabis," states Nam Tran, Managing Member of GoodFellas.

"An exceptional product for the times. We're witnessing an unprecedented number of patients and consumers participating with cannabis. The Simple Kit is innovative, simple and easy to use. Conditional on the acquisition we look forward to expanding the Simple Kit throughout California," states Jim Pakulis, CEO of TransCanna.

About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company providing 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
President and 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 expected purchase of the facility, the terms of the facility acquisition, the payment of finders fees in relation thereto, the ability of the Company to secure financing and the acquisition of appropriate licenses for the facility. 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.

Source: TransCanna Holdings Inc.
Sectors: Retail & eCommerce, Food & Beverage, Healthcare & Pharm, Funds & Equities