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PRESS RELEASE: TransCanna Closes Acquisition of SolDaze

| Quelle: Dow Jones Newsw... | Lesedauer etwa 4 min. | Text vorlesen Stop Pause Fortsetzen


DGAP-News: TransCanna Holdings Inc. / Key word(s): Miscellaneous
TransCanna Closes Acquisition of SolDaze

2019-09-19 / 20:40
The issuer is solely responsible for the content of this announcement.

Vancouver, British Columbia(Newsfile Corp. - September 19, 2019) -
*TransCanna Holdings Inc. *(CSE: TCAN) (FSE: TH8) ("TransCanna" or the
"Company") is pleased to announce that it has closed its previously
announced acquisition of all of the outstanding equity interest in Tres Ojos
Naturals LLC, doing business as SolDaze, a limited liability company based
in Santa Cruz, California.

TransCanna paid to the vendors a purchase price comprised of an aggregate
cash payment of US$200,000 (including a previously paid deposit of
US$50,000) and the issuance of 810,000 common shares in the capital of the
Company (the "*Closing Share Consideration*") at a deemed price of $1.14 per
share. The Company and the vendors entered into a voluntary pooling
agreement in respect of the Closing Share Consideration, which provides for
a release of such shares over a two-year period, subject to acceleration in
the event that the sales of SolDaze products meet specific revenue targets.
The number of shares released may also be reduced in the event that certain
revenue targets are not met by the dates specified. An additional cash
payment in the amount of US$150,000 will be paid on November 15, 2019 to
satisfy the remaining cash portion of the purchase price.

*About TransCanna Holdings Inc.*

TransCanna Holdings Inc. is a Canadian based company providing branding,
transportation and distribution services, through its wholly-owned
California subsidiaries, to a range of industries including the cannabis
marketplace.

For further information, please visit the Company's website at
www.transcanna.com [1] or email the Company at info@transcanna.com.

On behalf of the Board of Directors
Steve Giblin
President
604-609-6199

The information in this news release includes certain information and
statements about management's view of future events, expectations, plans and
prospects that constitute forward looking statements. These statements are
based upon assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties and as a result of a
variety of factors, the actual results, expectations, achievements or
performance may differ materially from those anticipated and indicated by
these forward looking statements. Forward-looking statements in this news
release include, but are not limited to: timing of the completion of the SPA
and the satisfaction of closing conditions, and the expected benefits of
SolDaze to the Company's business. Any number of factors could cause actual
results to differ materially from these forward-looking statements as well
as future results. Although the Company believes that the expectations
reflected in forward looking statements are reasonable, it can give no
assurances that the expectations of any forward looking statements will
prove to be correct. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in factors
affecting such forward looking statements or otherwise.

_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._

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/47952 [2]

Click on, or paste the following link into your web browser,to view the
associated documents http://www.newsfilecorp.com/release/47952
News Source: Newsfile

2019-09-19 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: TransCanna Holdings Inc.

Canada
ISIN: CA89356V1040
EQS News ID: 876981

End of News DGAP News Service

876981 2019-09-19


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3bbfcbd2c587c7094c6e929089026208&application_id=876981&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f20391df4c0280a8dff4954575ea23c1&application_id=876981&site_id=vwd&application_name=news


(END) Dow Jones Newswires

September 19, 2019 14:40 ET ( 18:40 GMT)
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