- Phase One expected to generate up to CAD$ 28,000,000 to $32,000,000 additional annual Revenues
- Company anticipates the remaining construction to take 60 days from the date of execution of the Definitive Agreements with Wild Horse Properties L.P., which will provide the company access to a $2,000,000 convertible construction loan.
Vancouver, British Columbia — (February 17, 2021) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company“) is extremely excited to announce the Company has entered into the final stage of the Phase One build-out of its Daly Facility located in Modesto, CA. With the facility construction approximately 80% complete, the Company anticipates the remaining construction to take 60 days from the date of execution of the Definitive Agreements with Wild Horse Properties L.P., which will provide the company access to a $2,000,000 convertible construction loan.
“The entire team is thrilled to complete the remainder of the Phase One Daly Facility build-out. The opportunity ahead of us to scale our genetic offerings, cultivation, state-wide distribution and processing divisions is very exciting. Each of these functions have synergistic impacts on the efficiencies of the business. Top-tier manufacturing for concentrates will soon follow, significantly leveraging up the entire portfolio,” stated Alan Applonie, General Manager of the Daly Facility.
Once construction is complete, on or around April 15, 2021, the company will boast the following cultivation, distribution, and processing capabilities at its flagship Daly Facility:
Cultivation
- Five (5) 4,500 sq. ft. grow rooms
- Each new cultivation room is expected to add an additional $12-$14M CAD
- The incremental gain of 500 lights represents a 330% increase over current capacity
- Each room will be outfitted with a minimum of 100 lights.
- The first completed cultivation room planned to have plants under lights by March 15, 2021
Distribution
- Robust distribution infrastructure with secured loading and unloading of vans
- Climate controlled storage facilities that can accommodate 100 acres of harvested product, cured bulk product, and more than 100 pallet positions for finished goods
- Aggregation of the company’s crop management products
- Finished goods from multiple brands and partners for efficient logistics between the Northern and Southern California markets
- Revenue is expected to commence in March and to achieve an annualized run rate of $8-10M CAD
Processing
- Curing, grading, and packaging of cannabis flower from compliant 3rd party farms
- Provides the operational basis to execute a comprehensive white-label/co-packaging and brand creation center to fill lower price point market segments
- Revenue is expected to begin in March and to achieve an annualized run rate of $8-10M CAD
- State Processing License expected by March 15th, 2021
Read More: https://agoracom.com/ir/TranscannaHoldings/forums/discussion/topics/755487-final-stage-of-phase-one-completion-at-daly-facility/messages/2303991#message
