TransCanna Holdings (CSE: TCAN) (FRA: TH8) on Thursday announced that it has closed the acquisition of all the outstanding equity interest in Tres Ojos Naturals LLC, currently doing business as SolDaze. TransCanna paid a purchase price comprised of a cash payment of $200,000 (including a previously paid deposit of $50,000) and the issuance of 810,000 common shares at a deemed price of $1.14 each. Another cash payment of $150,000 will be paid on November 15, 2019 to satisfy the remaining cash portion of the purchase price. TCAN and the vendors entered into a voluntary pooling agreement concerning the closing share consideration, which details the release of the shares over a two-year period, subject to an increase in speed if the sales of SolDaze products reach predetermined revenue targets. The number of shares released may also be lowered if certain revenue targets are not met by the dates specified.
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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 more information, visit the company’s website at www.TransCanna.com.
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