TransCanna Holdings is a Canadian company engaged in developing, integrating, scaling and channelizing cannabis- and hemp-related marketing activities in a closed-loop ecosystem.
Recently, TransCanna successfully closed its second round of private placement funding since its IPO on January 9, 2019, which fetched the company gross aggregate proceeds of C$10 million. "The proceeds of this funding are being used for acquiring equipment and developing our existing 196,000 sq. ft cannabis unit in Modesto, Stanislaus County, California. The proceeds will also be used for additional acquisitions," the team with the company explains.
In addition, TransCanna has appointed Alan R. Applonie as the general manager of its Modesto facility. "The appointment was made after screening of top-tier talent from the industry for a period of six months," they say. "Applonie most recently oversaw a major consumer goods facility that generated approximately $300 million in annual gross revenues. He will be overseeing all of the manufacturing and related activities at the 196,000 sq. ft hub, as well as other units being acquired in Stanislaus County."