- TransCanna Holdings (TCAN) has begun Phase 2 construction its 18,208 square metre Daly Facility in Modesto, California
- Work will see the facility’s canopy increase by 2,712 square metres and total production capacity will exceed 4,536 kg per year
- Work commences this week with trades in the building and construction of Phase 2 is expected to take four to five months
- TransCanna Holdings Inc. is down 25 per cent, trading at C$0.03 per share at 9:45 am ET
TransCanna Holdings (TCAN) has begun Phase 2 construction its 18,208 square metre Daly Facility in Modesto, California.
Through the refinancing lender Pelorus Equity Group, TransCanna unlocked a US$4,000,000 construction budget and has already Initiated the first drawdown of US$962,000.
Work will see the facility’s canopy increase by 2,712 square metres. Total production capacity will exceed 4,536 kg per year.
Enhancements include:
- Four more approximately 436 square metre cultivation rooms
- Three new curing rooms to accommodate scaled up production of all nine large cultivation rooms
- Climate and humidity controls to aid cultivation of different genetics
New vegetative rooms to support increased scale of production rooms at the facility and ability to house and test more genetics and produce larger amounts of high-quality clone stock in-house
The company’s CEO, Bob Blink said that the facility represents one of the company’s great strengths, along with the people working with the company, its location, and most importantly, the product.
“Focusing on these strengths gives us the ability to adapt in this very challenging environment and to work with the larger brands to ensure a more stable business plan.”
Work commences this week with trades in the building and construction of Phase 2 is expected to take four to five months.
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 Holdings Inc. is down 25 per cent, trading at C$0.03 per share at 9:45 am ET.
