• TransCanna Holdings (TCAN) has entered into a Memorandum of Understanding with recreational cannabis producer and brand, Summit Boys
  • Under the agreement, the companies will co-brand a line of cannabis concentrates under the name Caviar
  • TransCanna’s subsidiary, Lyfted Farms, will supply Summit Boys with high-quality cannabis flower for processing into the concentrates
  • The company recently received the final operating license for its Daly facility from the California Bureau of Cannabis Control
  • TransCanna Holdings (TCAN) is up 1.35 per cent and is currently trading at C$1.50 per share

TransCanna Holdings (TCAN) has entered into a Memorandum of Understanding with recreational cannabis producer and brand, Summit Boys.

Under the agreement, the companies will collaborate to co-brand a line of high-quality cannabis concentrates, under the name Caviar. 

At the 2019 Bay Area Cannabis Cup, Summit Boys won awards, including Best Product and Hybrid Concentrate, for the Caviar product. Summit Boys is most well-known for its line of White Caviar branded products.

TransCanna’s subsidiary, Lyfted Farms, will supply Summit Boys with its high-quality cannabis flower for processing into the Caviar cannabis concentrates.

The company’s CEO, Bob Blink, commented on the collaboration with Summit Boys, and all of the benefits it brings.

“This co-branding of the already famous Caviar product, now powered by Lyfted’s flower, is great news for cannabis consumers.

“For us, it’s another example of our strategy to align with high-quality producers and already successful players in the industry – this time with the added value of the Summit Boys’ grassroots following.

“But for the more sophisticated California cannabis market, this partnership will mean an even higher quality product for consumers,” he said. 

This news follows a recent announcement regarding TransCanna’s 196,000 square foot Daly facility. On July 10, the company received the final operating license for the facility from the California Bureau of Cannabis Control.

The fully licensing of the facility will allow TransCanna to co-brand and scale the Caviar products more effectively.

TransCanna Holdings (TCAN) is up 1.35 per cent and is trading at C$1.50 per share at 1:32pm EDT.

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