Vancouver, British Columbia--(Newsfile Corp. - April 21, 2020) - TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("TransCanna" or the "Company") is pleased to announce Lyfted Farms has been engaged by Central Valley Growers to Operate a Commercial Cannabis Greenhouse Facility located in Stanislaus County. Lyfted Farm's 'Higher Standard Farm Management Agreement' includes the provision of genetic stock, crop cultivation, labor, compliance oversight, and distribution of finished product over an initial 5-year term to commence May 1st, 2020, with two 5-year options to extend. Under this agreement, Lyfted Farms will receive a base fee with an incentive fee of all budgeted net proceeds.
"In building our company, we have committed to setting a 'Higher Standard of Growing' for our industry. We keep this in mind in all that we do but especially in selecting our employees, executive team members, and business partners. Endeavoring to dispel the lingering stigma around the cannabis industry serves as part of the impetus that drives us to set this standard. Thus far we have been successful in doing so, as reflected in our unwavering regulatory compliance, a track record of safe, successful operations, and impeccable performance under numerous Development Agreements in Stanislaus County over the last two years. We continue to raise this standard in formally establishing our relationship with Central Valley Growers, which is owned by a Central Valley family with a 25 year legacy in traditional agriculture", commented Bob Blink, President and CEO of TransCanna.
"Central Valley Growers could not be more excited to partner with an industry leading cannabis operation such as Lyfted Farms. Our longstanding relationship with CEO Bob Blink makes us confident in both Lyfted Farms' future success as well our strong belief that Lyfted Farms will always have the community of Stanislaus and its constituents top of mind in conducting our operations", commented Nav Athwal, General Manager, Central Valley Growers.
About TransCanna Holdings Inc. TransCanna is a California-based, Canadian-listed company building cannabis focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
Glenn Little ( Glenn.L@TransCanna.com )
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