TransCanna Cultivates Plans To Acquire Goodfellas Group

 TransCanna rolls out plans to acquire Goodfellas Group

"Formed in 2017, Goodfellas includes a team of design, marketing and retail experts who are driven to assist their clients to find success in the marketplace. The company currently works with twenty-five clients at various stages of their business development."

According to The Cannabis Investor, "TransCanna Holdings Inc. (CSE: TCAN) (XETR: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has signed a non-binding Letter of Intent to acquire Goodfellas Group, LLC, (“Goodfellas”) a full-service advertising and marketing agency for the cannabis and hemp industries, from which the Company is already acquiring 23 branding agreements. The acquisition price will be derived from two times the previous 12 months revenues, at the time of execution of definitive agreements, as set forth in the audited financial statements of Goodfellas. 60% of acquisition price will be paid at closing, of which ½ will be payable in cash and ½ will be payable through the issuance of the Company’s common shares, and the remaining 40% of the acquisition price will be paid 12 months following the closing. The Company also anticipates retaining key members of the Goodfellas staff."

Jim Pakulis, the CEO of TransCanna noted, “It’s critically important that in order for our future brands to be successful in the cannabis and hemp space, we have to have relationships with the dispensaries and retailers, who in turn have the relationships with the end users. Through GoodFellas, we’ll have immediate access to many of the most successful dispensaries in California, and retailers throughout the US. In addition, we’ll be examining GoodFellas clientele to determine if there are potential acquisition candidates that fit our extremely critical vetting process.”

The stock IPO'd at $0.50 per unit on January 8, 2019 and closed January 29, 2019 at $1.89 per unit.