TransCanna Announces Debt Settlement and Option Issuance
Vancouver, British Columbia--(Newsfile Corp. - January 2, 2020) - TransCanna Holdings Inc. (CSE: TCAN) (XETR: TH8) ("TransCanna" or the "Company") announced today that it has settled outstanding indebtedness in the amount of CDN$255,000 owing to a consultant through the issuance of 300,000 common shares of the Company at a deemed price of $0.85 per common share (the "Settlement"). The common shares issued in connection with the Settlement are subject to certain restrictions on trading in accordance with applicable securities laws, and are additionally subject to a pooling agreement that restricts trading of the common shares for period of eight months from the date of issuance.
The Company also announces it has granted 200,000 options at an exercise price of CDN$1.18 to a consultant on January 2, 2019. The stock options are being granted pursuant to the terms of the Company's stock option plan and are subject to regulatory approval.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed, company building Cannabis focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51145