Coconut Creek, FL -- September 27, 2017 -- InvestorsHub
NewsWire -- Trans Global Group, Inc. (OTCPK:
TGGI) will release several news items over the coming weeks
allowing the market time to digest Cannabis Consortiums scope.
Share Structure Reductions:
In August 2017 Trans Global Group, Inc., the parent Company to
Cannabis Consortium, Inc., initiated an extended restructuring
phase to reduce the total number of Authorized shares and the total
number of shares traded in the Float. To date TGGI has
successfully reduced its Authorized shares by over 2.7 billion
Common shares and successfully reduced its Float by 300 million
Common shares. There are two further planned reductions that will
occur over the next few weeks that will reduce the number of free
trading shares in the Float by an additional 530 million Common
shares.
TGGI has already developed detailed plans for further reductions
in the Float totaling 3 billion shares, and possibly more, once all
the corporate actions for its Cannabis Consortium subsidiary have
been completed.
Cannabis Consortium, Inc.:
Cannabis Consortium, Inc. (Cannabis) is a subsidiary company
that was purchased by TGGI in 2010 to create an active trading
subsidiary. Cannabis itself was created in 1998 as a Blank Check
Shell, and currently has 47 shareholders.
Cannabis has already spoken with, and will be retaining, Counsel
during October 2017 to prepare and file a Reg A so it can then
begin to access capital markets as a separate trading entity from
TGGI.
Once the Reg A has been approved, Cannabis will work with a
Market Maker to file a Form 15c-211 so the Company can
independently trade under its own name and ticker symbol.
TGGI and its shareholders will remain the majority shareholder
within Cannabis.
When Cannabis begins trading as its own separate entity, a plan
will be presented to TGGI shareholders allowing them to exchange a
portion of their TGGI shares for Cannabis shares. This action is
intended to expand the shareholder base of Cannabis and
simultaneously both reduce TGGIs Outstanding shares, and TGGIs
Float.
MJ Licenses:
Cannabis Consortium intends to apply for MJ licenses in several
U.S. States beginning with, but not limited to, Colorado. After the
Colorado licenses have been approved, Cannabis plans to execute
Joint Venture agreements in other States where cannabis has already
been legalized.
For the purposes of expediting the business plan and in order to
quickly move to a revenue generation phase, the business lines are
being structured in a manner that allows Cannabis to effect sales
without immediately requiring MJ licenses.
Business Lines:
Cannabis Consortium is comprised of four (4) revenue streams
compromising specialty items, foodstuffs, beverages, and one (1)
research division. Three (3) of the revenue streams are derived
from edibles and the other revenue stream is derived from
investments. The research division will focus on the medical
benefits of CBD oils for the treatment of animals.
Specialty Items:
For our specialty items Cannabis is retaining Counsel to file
several patents and trademarks on the products the Company has
already designed.
A company Cannabis came across during its due diligence phase on
potential acquisitions has an item that was being used in a
specific non-MJ sector application. This item had sold millions of
units at approximately $10 retail per unit and $1-$2 wholesale.
Cannabis felt that this price point would broadly fit the
expectations of its intended market.
Rather than acquire the patent holding company and its live
patent, Cannabis recognized an opportunity existed to design a
series of brand new and very different products in a manner that
would allow for future patent applications in both the MJ and
non-MJ sectors.
Cannabis has completed the design of several specialty products
that are a markedly different solution to the specific
technological problems processes and materials, offered by the
product Cannabis passed on.
The differences, both individually and combined, should allow
for a series of patent applications to be filed by Cannabis and be
successfully granted by the U.S. Patent and Trademark Office
(USPTO).
Cannabis will additionally apply for a series of Trademarks to
USPTO to register and protect the brand names and logos, as
applicable.
More information regarding the statements made in this release
along with more information about Cannabis Consortium will be
released in the coming days.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
believes, expects, potential, plans, suggests, may, should, could,
intends, or similar expressions. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause the actual results to be materially different from
any future results, performance or achievements expressed or
implied by such statements. In particular, management's
expectations could be affected by among other things, uncertainties
relating to our success in completing acquisitions, financing our
operations, entering into strategic partnerships, engaging
management and other matters disclosed by us in our public filings
from time to time. Forward-looking statements speak only as to the
date they are made. The Company does not undertake to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made.
Contact:
Matt Dwyer
matt@transggi.com
954-905-9896
