Cannabis Stock News: TransCanna (CSE: TCAN) Harvests First Crop Management Site
Vancouver, British Columbia - December 21, 2021 (Newsfile Corp.) (Investorideas.com Newswire) TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("the Company") is pleased to announce that it has harvested its first crop management site - a greenhouse in Wesley, California.
TransCanna's wholly-owned subsidiary Lyfted Farms began cultivation on the crop in September, and harvested Friday, December 17th, 2021. The harvest includes six strains and is expected to yield approximately 200 pounds of flower. In addition to providing the genetics, and cultivating and harvesting the crop, Lyfted Farms will also be curing, storing, packaging and distributing it on behalf of the client, Central Valley Farms.
"This first successful third-party crop perfectly showcases our capabilities of truly being a 'one-stop-shop' for the California cannabis industry," said Bob Blink, CEO of TransCanna. "We are truly managing the process from seed to sale."
Additionally, the Company, in partnership with 365 CannaFarms, consulted the client on the construction of the state-of-the-art, computer-controlled greenhouse prior to producing its inaugural crop.
"This first harvest from our true light-deprivation greenhouse has turned out beautifully, and the product quality reflects the tremendous abilities of our greenhouse partners, 365 CannaFarms, who are known throughout the region as one of the best greenhouse growers/operators in California," said Mr. Blink.
The client, Central Valley Growers, is a family-run company with over 25 years of history in traditional agriculture that had sought out Lyfted Farms specifically for its potent, premium genetic strains. The contract began this summer and involved advising on the construction of a 22,000 square foot, fully automated light deprivation glass greenhouse with computer controlled light curtains, cooling, heating and humidity systems.
This year, TransCanna has successfully launched cultivation, third party crop management, cold storage, and processing and distribution services out of its massive new 196,000 square foot Daly Facility in Modesto California. The Company expects to build out these capabilities throughout 2022.
TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
TransCanna's wholly owned subsidiary Lyfted Farms is California's authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new multipurpose facility in Modesto, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market. Visit the TransCanna website today at transcanna.com.
For updated information with respect to our company, please see our filings on SEDAR at www.sedar.com and on the CSE at www.thecse.com, or visit the Company's website at www.transcanna.com. To contact the Company, please email firstname.lastname@example.org.
On behalf of the Board of Directors
Bob Blink, CEO
Certain information in this release may contain forward-looking statements, including information about crop yields and future business opportunities. Forward-looking statements include, but are not limited to, statements concerning management's guidance on sales and other statements which are not historical facts. When used in this document, the words such as "could", "plan" "estimate", "expect", "intend", "may", "potential", "should" and similar expressions indicate forward-looking statements.
Although TransCanna believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date that the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other events contemplated by the forward-looking statements will not occur. Although TransCanna believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct as these expectations are inherently subject to business, economic and competitive uncertainties and contingencies. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this press release include, but are not limited to, unexpected increases in operating costs, a continued strain on farmers due to fires, the impact of the continuing COVID-19 pandemic, competition from other retailers changes in exchange rate between the Canadian Dollar and other currencies, the impact of global supply chain delays and the retention of key staff.
This cautionary statement expressly qualifies the forward-looking statements contained in this press release. TransCanna undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by law.
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