Vancouver, British Columbia--(Newsfile Corp. - March 3, 2020) - TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("TransCanna" or the "Company") announces on March 3, 2020 the Stanislaus County Board of Supervisors issued a unanimous (5-0) vote of approval for Lyfted Farm, Inc. ("Lyfted Farms") a subsidiary of TransCanna, Conditional Use Permit and Development Agreement for the Operation of the Daly Avenue Facility in South Modesto. The Daly facility is a 196,000 square foot industrial facility equipped for large scale cannabis cultivation, manufacturing, and distribution. This facility will be operated by Lyfted Farms in addition to its Cultivation, Nursery and Distribution facilities in North Modesto which were also unanimously approved by the County Board in January 2019.
To initiate operations at the Daly Avenue facility Lyfted Farms will need approval from California for its State licenses, those applications are currently in process.
"This is a tremendous step forward for TransCanna!" said Steve Giblin, President and CEO. "Licensing the Daly facility will enable the company to accelerate revenues by expanding distribution, manufacturing and cultivation. We are now well on our way to achieving our strategic plan."
"Everyone in the cannabis space in California knows about the Daly building and the effect it will have on the industry," said Bob Blink, President of Lyfted Farms. "When we open Daly, we will be doing business with most recognized and in demand consumer brands. It will reinforce our position as an industry leader."
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed, company building Cannabis focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
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