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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  TransCanna Holdings Inc.    TCAN   CA89356V1040

TRANSCANNA HOLDINGS INC.

(TCAN)
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TransCanna Announces Launch of Lyfted Apparel Line

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07/08/2020 | 11:30pm EDT

Vancouver, British Columbia--(Newsfile Corp. - July 8, 2020) - TransCanna Holdings Inc. (CSE: TCAN) ("TransCanna" or the "Company") announces that its wholly-owned subsidiary Lyfted Farms Inc. announces the launch of Lyfted Apparel line.

Lyfted Farms is thrilled to announce the launch of its own exclusive line of t-shirts, hoodies, caps, and other apparel and branded items. Lyfted Farms has contracted local artists to produce over 15 new designs that reflect the vibes of authentic California cannabis culture.

The new items can be found at www.lyftedfarms.com/apparel or on Instagram @lyftedfarmsapparel

Lyfted Farms has executed a Memorandum of Understanding with Raymond Willis, Founder, and CEO of Kingpin Skateboard and Apparel, to market and promote the new Lyfted Apparel line. Raymond brings more than 20 years of experience in the industry and favors exciting and creative ways to share the brand with a broader audience.

"I really love doing fun promotions where not only do you get to purchase the brands you love but also get to be a part of something bigger. Our first promotion for Lyfted Apparel will hit this month and feature a raffle the winner of which will spend an afternoon with Bay-Area Rapper Nump!" stated Raymond Willis.

In addition, the Company announces that it has entered into a Consulting Services Agreement with 1236686 B.C. Ltd. Pursuant to the Agreement, 1236686 B.C. Ltd. will provide consulting advice and services in connection with the development and operation of the corporate and financial affairs of the Company, its subsidiaries, and its affiliates. The Company will issue to 1236686 B.C. Ltd., 400,000 common shares for a deemed value of $296,000.

Additionally, the Company has elected not to renew the contract for its CFO, Michele Pillon. It is pleased to announce that Gary Khangura, CPA will act as "Interim" Chief Financial Officer as the Company seeks to recruit a Chief Financial Officer with a firm understanding of the cannabis industry in the California Marketplace. The Company thanks Ms. Pillon for her work during the Covid19 pandemic and assisting the Company in completing its audit during the extended deadlines.

The Company announces the resignation of Stephen Giblin as a director of the Company. Mr. Giblin has been appointed to the Company's Advisory Board, the Company thanks Mr. Giblin for his time served.

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.

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
Bob Blink, CEO
604-349-3011

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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59430

© Newsfilecorp 2020

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Financials
Sales 2019 0,24  0,18  0,18 
Net income 2019 -25,8 M -19,5 M -19,5 M
Net Debt 2019 10,5 M 7,94 M 7,94 M
P/E ratio 2019 -0,58x
Yield 2019 -
Capitalization 31,7 M 24,0 M 24,0 M
EV / Sales 2018 -
EV / Sales 2019 126x
Nbr of Employees -
Free-Float 88,3%
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Managers
NameTitle
James Robert Blink Chief Executive Officer & Director
Wesik Stephanie President & Director
Douglas Lawrence Mason Chairman
Michele Pillon Chief Financial Officer
Stephen J. Giblin Director
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