ECGI Holdings (OTC: ECGI), which plans to operate as Elite Cannabis Group and has been reorganized as an acquisition-oriented corporation with California-based targets of distressed cannabis assets, properties zoned for cannabis cultivation and processing, today announced its second agreement within the fast-growing California regulated cannabis market. According to the update, the company has signed a definitive management services agreement to enter the cannabis delivery business in conjunction with a California cannabis license holder operating out of Lynwood, California. ECGI created Nug Avenue Inc., a wholly owned subsidiary that will hold the contract with the licensed party. “We are continuing to expand our investments within the California cannabis market,” said William Chung, CEO of ECGI. “Last month, we announced the acquisition of prime Northern California real estate that is zoned for cannabis cultivation with this new investment opportunity targeting the even faster-growing area of cannabis delivery. We plan on announcing our additional partnerships relating to this new agreement over the coming weeks, if not sooner. We are in the process of vetting additional similar transactions as part of our strategy to acquire distressed assets and other cannabis-related businesses with long term and hyper-growth potential.”
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About ECGI Holdings Inc.
ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets of distressed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with national expansion possibilities. Additional information about the company can be gained by contacting [email protected].
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