Developing the largest multi-purpose cannabis facility in California
$90M Expected From Full Facility Completed In 2021
Message: TransCanna's Lyfted Farms Produces World Class 37% THC Strain
Vancouver, British Columbia--(Newsfile Corp. - November 24, 2021) - TransCanna Holdings Inc. (TCAN: CSE) (FSE: TH8) ("the Company" or "TransCanna") is pleased to announce its wholly owned subsidiary Lyfted Farms has produced its highest THC content strain to-date, its "Unicorn" strain showed a whopping 37% THC content. The Company's previous highest ranking strain was 32% THC.
37% places Unicorn among the highest THC strains on the California market, with anything above 30% considered extremely high. The testing was conducted by an independent 3rd party lab.
"These are ground-breaking results," said Shaun Serpa, CMO for Lyfted Farms. "The market is hungry for strains with higher and higher THC content, and retailers make purchasing decisions primarily based on THC levels. We are continuously improving our methods and ensuring that we are responsive to market demand."
The current market trend is for cannabis flower ranking above 25% THC. Most Lyfted Farms strains currently test in the 25%+ to 30%+ range, which is considered very high.
'Unicorn' was cultivated from clones in Lyfted Farms' existing genetics library, and management attributes the high THC ranking to data-driven process improvements during the nursing, vegetative, and transition management phases of cultivation, all conducted at the Company's Daly Facility in Modesto, California.
Lyfted Farms boasts one of the most extensive genetic libraries in the state of California.
"I am extremely proud of our large and diverse genetic inventory," said Mr. Serpa. "We have over 50 strains and can specialize in strains for concentrates, terpene strains, indica dominant strains, and sativa dominant strains."
Most competitors only have five strains at a given time due to resource limitations of space and capital. But with TransCanna's 12,000 square foot Jerusalem facility and new 196,000 square foot Daly facility, the company is able to house up to ten times as many strains as the competition.
"I call our strains our 'tools', said Mr. Serpa, "We have the right tool for every job and can pivot quickly to provide for changing consumer demands."
TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
TransCanna's wholly owned subsidiary Lyfted Farms is California's authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new multipurpose facility in Modesto, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market. Visit the TransCanna website today at transcanna.com.
For updated information with respect to our company, please see our filings on SEDAR at www.sedar.com and on the CSE at www.thecse.com, or visit the Company's website at www.transcanna.com. To contact the Company, please email [email protected].
On behalf of the Board of Directors
Bob Blink, CEO
Certain information in this release may contain forward-looking statements, including future successes of our business development strategies and future opportunities. Forward-looking statements include, but are not limited to, statements concerning management's guidance on sales and other statements which are not historical facts. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions indicate forward looking statements.
Although TransCanna believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date that the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other events contemplated by the forward-looking statements will not occur. Although TransCanna believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct as these expectations are inherently subject to business, economic and competitive uncertainties and contingencies. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this press release include, but are not limited to, unexpected increases in operating costs, a continued strain on farmers due to fires, the impact of the continuing COVID-19 pandemic, competition from other retailers changes in exchange rate between the Canadian Dollar and other currencies, the impact of global supply chain delays and the retention of key staff.
This cautionary statement expressly qualifies the forward-looking statements contained in this press release. TransCanna undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by law.
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