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Vancouver, BC, Dec 21, 2019 - (ACN Newswire) - TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("TransCanna" or the "Company") is pleased to announce last evening (December 19, 2019) that Lyfted Farms, Inc. ("Lyfted or Lyfted Farms") a wholly owned subsidiary of TransCanna received unanimous recommendation from the Stanislaus County Planning Commission to recommend to the Board of Supervisors the approval of the Daly Project. The Daly project is a 196,000 square foot cannabis cultivation, manufacturing and distribution facility in Modesto, California. The Planning Commission is appointed by the Board of Supervisors of the county to assess projects for potential negative impacts and the relative benefits projects may carry into the community at large. The items of consideration before the commission in last night's hearing included both a Conditional Use Permit Application for the commercial cannabis uses proposed at the facility, as well as a Development Agreement negotiated between Lyfted and the county which establishes the relative rights and obligations of the parties.
"This recommendation of approval is a significant milestone for the project as the County Commission has previously voted down several large-scale cannabis projects. We are extremely pleased with the unanimous decision and believe it speaks volumes as to the viability of the Project and validates the diligent efforts of our Modesto team over the last six months. We're excited to proceed with our next steps, a public hearing before the County Board of Supervisors, and subsequently, anticipating their approval, moving into the State licensing process. Following full local approval by the Board, the State licensing process is very often seamless." Commented Zach Drivon Company Council in California.
"We are very pleased with the unanimous vote of approval by the County Planning Commission," said Steve Giblin President and CEO of TransCanna. "Our team in Modesto has worked diligently to meet all the criteria required by the county. Our goal is to operate a successful business that will add jobs and contribute to the local community".
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed, company building Cannabis focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
For further information, please visit the Company's website at www.transcanna.com 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. 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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50994
Topic: Press release summary
Source: TransCanna Holdings Inc.
Sectors: Cannabis
https://www.acnnewswire.com
From the Asia Corporate News Network
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