ECGI Holdings Inc.
EECGI is looking forward to partnering with Canndis and to helping them capitalize on their excess capacity through our high-value relationships.
ECGI Holdings Inc. (OTCMKTS:ECGI)
LOS ANGELES, CALIFORNIA, USA, October 3, 2023 /EINPresswire.com/ — ECGI HOLDINGS INC. (OTC: ECGI) (ECGI or the Company), D/B/A Elite Cannabis Group Incorporated, a Nevada-based portfolio company operating in the legal cannabis and cannabinoid marketplace, is excited to announce the execution of a binding letter of intent (the “LOI”) between Canndis, Inc (“Canndis”), a California corporation, and the Company.
Yong Qing Wang, President of Canndis, remarked, “We have excess manufacturing capacity for cannabis-based products. We approached ECGI because of its positioning in the California cannabis marketplace and its potent network of strategic relationships. With the agreement contemplated by this LOI, we will be able to capitalize on ECGI’s relationships to drive more value for our own stakeholders.”
According to the terms of the LOI, Canndis will be responsible for producing high-quality cannabis products in accordance with ECGI specifications and standards. ECGI or its cannabis brand customers will cover all associated manufacturing costs, including raw materials, labor, equipment, and facilities.
Canndis will facilitate the licensed distribution of ECGI’s products, or those of its cannabis brand customers, to various markets, ensuring compliance with all applicable regulations and standards. This includes managing distribution logistics, obtaining necessary permits, and ensuring timely delivery to retail locations.
“We look forward to partnering with Canndis and to helping them capitalize on their excess capacity through our high-value relationships,” stated Jamie Steigerwald, General Manager of ECGI. “At the same time, this arrangement will also drive value for our brand customers and our own shareholders as we continue to build our portfolio of disruptive high-growth cannabis brands in the California marketplace.”
About ECGI
ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets including undercapitalized and distressed licensed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with nationwide expansion possibilities.
For additional information, please contact us at info@ecgiholdings.com.
Forward Looking Statements
This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to, economic conditions, changes in the laws or regulations, demand for products and services of the Company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
For more information, please contact:
Danny Wong
Info@ECGIholdings.com
Public Relations:
EDM Media
SOURCE: ECGI HOLDINGS, INC.
Danny Wong
ECGI Holdings Inc.
Info@ECGIholdings.com
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