When complete, TransCanna Holdings’ (TCAN.C) acquisition of cannabis marketing firm, GoodFellas, will not only net the company 25 branding clients in various stages of development, but also a product designed to make your first toke a breeze.
Cannabis legalization opens the market to a host of first-time consumers or ex-smokers who tossed their dreadie tams 30 years ago after graduating from university.
The ritual of rolling a joint, and the still-present stigma of criminality, can make a marijuana newbie’s experience confusing, if not nerve-racking.
The Simple Kit is an innovative and necessary branding of the smoking experience for a post-legalization world. Nam Tran, managing member of GoodFellas, said:
“The GoodFellas team reversed engineered the cannabis experience and brought it back to the beginning…Whether it’s for medicinal or recreational purposes, we believe the Simple Kit is an ideal product to help anyone start enjoying cannabis.”
GoodFellas’ Simple Kit™ contains a watertight, child proof grinder with a portion of cannabis, filter tips, a cannabis scoping device and rolling papers.
The Simple Kit box can also be transformed into a rolling tray after opening.
GoodFellas made the rounds during the last quarter of 2018 and soft launched the Simple Kit to a select group of Californian dispensaries.
The resulting feedback was positive from both operators and consumers.
Jim Pakulis, TransCanna CEO, commented on Simple Kit’s rousing reception and future distribution plans:
“An exceptional product for the times. We’re witnessing an unprecedented number of patients and consumers participating with cannabis. The Simple Kit is innovative, simple and easy to use. Conditional on the acquisition we look forward to expanding the Simple Kit throughout California.”
Besides the Simple Kit and branding contracts, the GoodFellas acquisition will give TransCanna immediate access to some of the most successful dispensaries in California as well as retailers throughout the U.S.
This acquisition is all part of a bigger plan for TransCanna as it intends to develop a large distribution network across the Golden State.
The network will consist of up to five leases or bought facilities in North San Diego, Adelanto, Culver City, Los Angeles and Sacramento.
After solidifying its position in California, TransCanna will set its sights on building operations in Canada, Washington, Oregon, Nevada, Colorado and Arizona.
TransCanna Holdings is still in the “promises” stage of business development, and the next 12 months will be pivotal for the company to show if there is any proof to its corporate pudding.
Share price on the CSE slid $0.06 on small volume to $2.12 by market close.
Currently the company has 16,995,654 issued and outstanding shares with a market cap of $38.2 million.
Full disclosure: TransCanna Holdings is an Equity.Guru marketing client.