TransCanna Holdings Inc.: California Awards TransCanna Rare License to Process Third-Party Cannabis
Vancouver, British Columbia (Newsfile Corp. - April 28, 2021) -
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ( TransCanna or the Company ) is pleased to announce that the State of California has awarded its Daly Facility a coveted Processor License.
The License is rare - only 152 of its kind were issued last year, compared to 6,083 Cultivation and Nursery Licenses. The Processor License opens up a massive new revenue stream - allowing us to trim, dry, cure, grade, package and label cannabis for third-party growers state-wide, said Bob Blink, CEO for TransCanna. The vast majority of growers only hold Cultivation Licenses, which allow processing activities solely for cannabis they produce on-site.
Tue, 04/06/2021 - 9:15am
ROCKLAND Spectrum, the internet service provider with which the City of Rockland uses, reported two fiber breaks in its network causing a mass two-hour outage April 5, just as Rockland Councilors were about to convene to address a substantial business agenda. Consequently, the meeting has been moved to Wednesday, April 7.
The fiber breaks affected service in Maine and New Hampshire. Spectrum has approximately 440,000 residential and business customers in Maine.
“These separate breaks impacted our redundant path, which normally serves as backup, when a break or damage is incurred in a part of the network,” said Heidi Vandenbrouck, a senior communications manager with Charter, Inc., the parent company of Spectrum.
Non-Brokered Private Placement
The Company is also pleased to announce that it has completed its previously announced non-brokered private placement (the “
Offering”) of 13,750,000 units (each, a “
Unit”) at a price $0.20 per Unit for gross proceeds of $2,750,000. Each “Unit” issued in the placement consists of one common share and one half of one share purchase warrant entitling the holder to purchase one additional share at $0.30 for a period of three years from closing of the Offering.
The Company filed for price reservation based on the closing price per common share of $0.245 on February 5, 2021 (which was the 52-week high for the Common Shares as of February 5, 2021). Commitments to subscribe in the Offering that were received on or before the close of markets on February 9, 2021, totaled $2.75 million. Further commitments were later received with demand significantly exceeding the $4 million, however as a result of the increase in the Company’s share price,
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