ECGI Holdings (OTC: ECGI), d/b/a Elite Cannabis Group Inc., has “made significant strides toward our goal of targeting a leadership role in product manufacturing and wholesale distribution in the California legal cannabis marketplace,” reported CEO Danny Wong in a recently released letter to shareholders. In the letter, Wong notes that many developments have been taking root and maturing, and he believes that the legal cannabis industry in California has “oververticalized,” resulting in a strong opportunity for disruption. Wong reported that the ECGI is actualizing its vision of becoming a central player in the California cannabis space through a series of strategic deals and cultivated brand relationships, “which will be manifest as minority stake acquisitions, exclusive licensing contracts, or similar contractual agreements.” The letter outlined the company’s focus, which is on talent and asset deals that bring production and leading talent in-house. “Another acquisition is close to being finalized as well and centers on our exclusive licensing deal for a cannabis vape line,” stated ECGI Holdings CEO Danny Wong in the shareholder letter. “Our partners in this deal represent a beast of a sales team who single-handedly brought one of the most successful brands in the market to the top. . . . We are now aggressively engaged in moving this project forward, and we expect more frequent communications and the achievement of additional benchmarks now that we are current on filings and in the process of finalizing key deals.”
To view the full letter, visit https://ibn.fm/9OXsD
About ECGI Holdings, Inc.
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 cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with national expansion possibilities.
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