- Lyfted Farms has entered into a Producer-Distributor Agreement with Green Rocket Design and Technology LLC
- This partnership will maximize Lyfted Farms’ distribution potential in the Southern California market, including Los Angeles and San Diego
- Green Rocket will help fulfill Lyfted’s largest SoCal accounts, including the Cookies retail chain, in addition to landing new accounts
- Green Rocket Design and Technology Corp, LLC is a privately held distribution, logistics and supply chain company
- TransCanna Holdings Inc. is a California-based company building cannabis-focused brands through its wholly-owned California subsidiaries
- TransCanna Holdings (TCAN) opened trading at C$0.78 per share
TransCanna Holdings (TCAN) subsidiary Lyfted Farms has entered into a multi-year Producer-Distributor Agreement with Green Rocket.
This partnership will facilitate Lyfted Farm’s rapid expansion into the Southern California cannabis retail market.
Lyfted Farms’ products are currently sold in 100 retail locations throughout California, but the company has yet to maximize its distribution potential in the massive Southern California market, including Los Angeles and San Diego.
“Prior to growing our cultivation capacity this year, we were not equipped to meet and serve market demand in Southern California,” said Bob Blink, CEO for TransCanna.
“But now with cultivation already underway at our new facility, four additional cultivation rooms scheduled to come online next month, and our largest harvest ever expected this fall, the time has come to set our sights on SoCal.”
Green Rocket will help fulfill Lyfted’s largest SoCal accounts, including the Cookies retail chain, in addition to landing new accounts.
The agreement grants Green Rocket the right to distribute Lyfted Farms cannabis flower and concentrates throughout the State of California with a primary focus on Los Angeles, Orange County, San Diego and surrounding areas.
This strategic partnership will allow for the rapid growth of the Lyfted Farms brand in Southern California as cultivation capacity at scale comes online at the company’s Daly Ave facility.
“I am so excited to finally get our flower into the hands of consumers in SoCal,” said Mr. Blink.
“Our proprietary genetics offer a superior cannabis experience in taste and flavor and it’s been a lifelong dream to have Lyfted Farms’ products enjoyed across the entire State on a massive scale.”
California continues to be the largest cannabis market in the United States, with $4.4 billion in sales in 2020, up 57% from the year prior.
“The company also announces that it will be granting an aggregate of 2,248,334 stock options to directors, officers, employees and consultants, exercisable for a period of 5 years at an exercise price of $1.00. The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.”
Green Rocket Design and Technology Corp, LLC is a privately held distribution, logistics and supply chain company headquartered in Long Beach, California.
TransCanna Holdings Inc. is a California-based company building cannabis-focused brands 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.
TransCanna Holdings (TCAN) opened trading at C$0.78 per share.
