Developing the largest multi-purpose cannabis facility in California

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Message: TRANSCANNA PROVIDES MCTO AND DALY FACILITY UPDATE

Transcanna Holdings suffers theft at Daly plant

Transcanna Holdings Inc (C:TCAN)
Shares Issued 53,333,204
Last Close 5/26/2022 $0.095
Friday May 27 2022 - News Release

Mr. Bob Blink reports

TRANSCANNA PROVIDES MCTO AND DALY FACILITY UPDATE

Transcanna Holdings Inc. has provided an update with respect to the previously announced management cease trade order issued by the British Columbia Securities Commission on March 31, 2022. The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended November 30, 2021 (collectively, the "Required Filings") before the prescribed deadline of March 30, 2022. The Company continues to work closely with its auditor and expects to file the Required Filings on or before May 30, 2022.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases. The Company confirms as of the date of this news release that there has been no material change in the information contained in the announcement issued on March 31, 2022, and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

Daly Facility Update

The Company reports that there has been a theft at its Daly Facility located in Modesto, CA.

The Company is currently assessing the loss and has launched a claim with its subsidiary's insurance carrier. The Company believes that it will receive compensation for a significant portion of the loss.

Management has launched an internal review of its building security systems and protocols, and plans to engage a security specialist to further explore these systems. Initial improvements have been made to the building's security system, with further improvements planned.

About Transcanna

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.

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