- Acquisition of Goodfellas Group LLC includes innovative, user-friendly cannabis package “Simple Kit” to help first-time users achieve a positive experience
- Company is creating a distribution network throughout California to serve the state’s $8.6 billion cannabis industry
- Recently closed an IPO funding share sale to bring in aggregate gross proceeds of C$2.2 million
- U.S. legal cannabis industry projected to reach $23.4 billion in consumer spending in 2022, growing at a 22 percent CAGR from 2017-2022
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8), which specializes in supporting clients involved in nearly every aspect of the cannabis-related eco-system, is adding another strategic layer to its growing portfolio. The company’s acquisition of Goodfellas Group LLC, a full-service advertising and marketing agency that specializes in the cannabis and hemp industries, brings with it an innovative cannabis “Simple Kit.” Part of Goodfellow’s in-house brand, “Simple,” the kit is designed to help first-time cannabis users have a pleasant experience in a simple, safe manner, according to a joint news release (http://cnw.fm/X7RnE).
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 childproof container/grinder that is also waterproof and airtight, a portion of cannabis, filter tips, a cannabis scoping device and rolling papers. The Simple Kit has already been introduced to some California cannabis dispensaries and is expected to be introduced to all legal cannabis counters once the sale of Goodfellas to TransCanna is complete.
“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,” Nam Tran, Managing Member of GoodFellas, said in the release. “Whether it’s for medicinal or recreational purposes, we believe the Simple Kit is an ideal product to help anyone start enjoying cannabis.”
A new report issued by Arcview Market Research in partnership with BDS Analytics projects that the legal cannabis space in the U.S. will experience double-digit growth from 2018 to 2022. According to the report, “The State of Legal Marijuana Markets, Sixth Edition,” consumer spending on legal cannabis products in the U.S. was expected to reach $11 billion in 2018 and climb to more than $23 billion by 2022, growing at a 22 percent compound annual growth rate over the five-year period (http://cnw.fm/j8zSP).
Jim Pakulis, CEO of TransCanna, said that the company was intrigued and excited by the concept of branding a user-friendly, all-in-one cannabis package and sees a bright future ahead for the Simple Kit.
“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,” Pakulis said in the joint news release.
For the first time in its history, the World Health Organization has suggested that cannabis be “rescheduled” from its current position as a highly regulated drug to a less restrictive schedule, citing evidence that “preparations of cannabis have shown therapeutic potential for treatment of pain and other medical conditions,” as an article in Newsweek reads (http://cnw.fm/3iVyO). The WHO Expert Committee on Drug Dependence also recommended that cannabidiol (“CBD”) containing no more than 0.2 percent THC should be removed from all international drug control conventions.
TransCanna is strategically creating a distribution network throughout California that places its facilities no further than a three-hour drive from most any client. The company is in the process of leasing or purchasing properly licensed and permitted warehouses strategically located throughout California, along with new secure trucks, sprinter vans and/or armored vehicles.
Through its affiliate, TCM Distribution Inc. (“TCMD”), TransCanna has secured local licenses in Adelanto, California, and recently secured a California temporary distribution license. In addition, TransCanna also completed its initial public offering for total gross proceeds of C$2.2 million, which will be used to fund its general working capital for the next 12 months, including its entry into California’s cannabis transportation and branding market, as a recent article details (http://cnw.fm/3hX9r).
For more information, visit the company’s website at www.TransCanna.com
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