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TransCanna Announces Appointment of Mr. Ian Klassen to Board of Directors

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Vancouver, British Columbia–(Newsfile Corp. – August 16, 2019) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce the appointment of Mr. Ian Klassen to the Board of Directors. He will also serve as Chair of the Company’s Audit Committee.

Mr. Klassen brings almost thirty years of business management, public relations and government affairs experience to the Company. He has extensive experience in the administration of public companies, finance, government policy, media relationship strategies, business/government project management and legislative decision-making. He previously served as Chief of Staff to the Canadian Speaker of the House of Commons.

Mr. Klassen was a founding director of Canabo Medical Corp. (“Canabo”), a public company listed on the TSX Venture Exchange, which for a period of time operated Canada’s largest group of physician-led referral-only clinics for medical cannabis. Established in 2014, the Company grew to 23 clinics across Canada. Their clinics were dedicated to evaluating the suitability of prescribing and monitoring cannabinoid treatments for patients suffering from chronic pain and disabling illnesses. Canabo completed a business combination with Aleafia Health Inc. (TSX: ALEF) in March 2018 (market cap of C$170m).

Mr. Klassen obtained a B.A. (Honours) from the University of Western Ontario and is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country.

“I would like to welcome Ian to our team. He will be a valuable addition on multiple levels given his background and experience. A lot of work has gone into developing our financial model and strategic plan as we continue to build out our California based operations,” stated Mr. Stephen Giblin, Director of TransCanna.

Ian Klassen remarked, “I am very pleased to join the Board at TransCanna. The Company’s team has worked extremely hard to set the framework in California for a very robust business going forward. I am looking forward to adding value for shareholders.”

The Company also wishes to announce the resignation of Mr. Juan Pablo Flores from the Board of Directors. The Company would like to thank Mr. Flores for his time and wishes him well in his future endeavors.

About TransCanna Holdings Inc.

TransCanna Holdings Inc. is a Canadian based company providing branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace.

For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.

On behalf of the Board of Directors

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to: timing of the completion of the SPA and the satisfaction of closing conditions, and the expected benefits of SolDaze to the Company’s business. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

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/47008