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PRESS RELEASE: TransCanna Signs Binding Agreement with Lyfted Farms Inc.

| Quelle: Dow Jones Newsw... | Lesedauer etwa 5 min. | Text vorlesen Stop Pause Fortsetzen

DGAP-News: TransCanna Holdings Inc. / Key word(s): Miscellaneous
TransCanna Signs Binding Agreement with Lyfted Farms Inc.

2019-09-12 / 23:30
The issuer is solely responsible for the content of this announcement.

Vancouver, British Columbia(Newsfile Corp. - September 12, 2019) -
*TransCanna Holdings Inc. *(CSE: TCAN) (FSE: TH8) ("TransCanna" or the
"Company") is pleased to announce it has signed a binding agreement to
acquire all the outstanding shares of Lyfted Farms Inc., which updates the
terms of the previously announced non-binding letter of intent.

Lyfted Farms brings over 2 decades of cultivation experience to the company
and currently holds a Distribution License, Nursery License, and a
Cultivation License at both the State and Local levels. Lyfted Farms has
long been a recognized leader in complying with statewide regulations, the
company was issued the 9th Cultivation License in the State of California.

"With this acquisition we are not only securing a high-quality brand but
fulfilling a need in sourcing and stabilizing our upper supply chain which
we see as a serious requirement in the California Cannabis marketplace"
stated Steve Giblin, TransCanna President & CEO. "This acquisition
represents a significant talent acquisition for the company moving forward.

The purchase price for the acquisition will be $6,300,000 USD comprised of
$5,550,000 USD in cash and the issuance of 1,000,000 TransCanna Common
Shares. $150,000 USD has already been advanced as a deposit and the
remaining cash portion of the purchase price will be payable as to $400,000
USD on closing and the issuance by TransCanna of a non-interest bearing
promissory note in favour of the vendors in the amount of $5,000,000 USD.

"This acquisition, once completed, allows our team to commit to the growth
of the TransCanna business model. We see and believe in the vision of
quality brands produced and distributed on scale and we can help with that
execution" Commented Bob Blink, CEO and Founder of Lyfted Farms.

Under the TransCanna umbrella, Lyfted Farms is expanding their nursery and
production capacity for a cost of $695,000 USD of which $105,000 USD has
already been advanced. Completion of the expansion is expected within the
next 90 days. This will pave the way for new staff to be onboarded and
trained while the company looks to complete the process of licensing and
building out the 196,000 square foot Daly facility.

Lyfted Farms is an award-winning trusted brand and has developed a very
loyal following amongst cannabis consumers. As a leading brand, Lyfted Farms
is continuously innovating, developing new strains and products and
delivering them to the end consumer. Lyfted Farms and their products set and
influence trends instead of following them. Shareholders or interested
parties can follow the brand development on Instagram @lyftedfarms.

*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

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

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 entering into the
definitive agreement required to complete the acquisition, the ability to
complete the acquisition on acceptable terms, and the expected benefits of
Lyfted 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


To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/47772 [2]

Click on, or paste the following link into your web browser,to view the
associated documents http://www.newsfilecorp.com/release/47772
News Source: Newsfile

2019-09-12 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.

ISIN: CA89356V1040
EQS News ID: 873005

End of News DGAP News Service

873005 2019-09-12

1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=57a4d7be4203ed3a0a9df721417276cd&application_id=873005&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=d8cbe3e48693c84223df4afb32f5692b&application_id=873005&site_id=vwd&application_name=news

(END) Dow Jones Newswires

September 12, 2019 17:30 ET ( 21:30 GMT)

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