TransCanna Holdings Continues to Execute
TransCanna Holdings Inc. (TCNAF) has been highly focused on the California cannabis market and we have been closely monitoring this opportunity. Last week, TransCanna Holdings executed a non-binding letter of intent (LOI) to acquire the business and assets of California-based Lyfted Farms, a licensed producer of premium cannabis that owns permanent state licenses for cultivation (nursery), cultivation (grow), and distribution.
Less than a week before announcing a LOI to acquire Lyfted, Transcanna Holdings executed a non-binding LOI to acquire the branding asset package of California-based Tres Ojos Naturals, d/b/a SolDaze. This agreement will enhance the company’s leverage to the California cannabis-infused product market as SolDaze produces cannabis-infused fruit snacks.
During the last year, SolDaze has recorded strong demand for its fruit-based, organic product line and it understands that it needs to expand in order to remain competitive. TransCanna offers SolDaze a platform to expand at its 196,000 sq. ft. facility and provides the necessary capital for immediate growth. We are bullish on the growth prospects associated with the increased scale at TransCanna’s state-of-the-art facility and will monitor how the team is able to execute on this.
Shortly before the SolDaze LOI was reported, TransCanna executed a non-binding LOI with Persuasion Brewing to create a division within TransCanna’s 196,000 sq. ft. facility to establish a Persuasion Brewing division, which will produce a variety of different CBD infusion non-alcoholic beers. During the last year, we have notice a major increase in the interest in cannabis-infused beverages and this represents a significant opportunity for the company.
TransCanna has been quietly building a massive California cannabis company and we will monitor how the team continues to execute. We would not be surprised if the company decided to expand into additional markets in the United States and believe that this could be a major catalyst. TransCanna is a company that has significant levers for growth and this is an opportunity to be monitoring.