ECGI Holdings (OTC: ECGI), D/B/A Elite Cannabis Group Incorporated, a Nevada -based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, has announced that 8bit, its soon soon-to-be-acquired cannabis brand, is experiencing significant growth. The company noted that 8bit has expanded its active distribution footprint by 30 locations, increasing from 20 stores to 50 stores in just a few weeks. ECGI reports that is a 150% increase in distribution footprint in less than two months, which tops 1,000% annualized growth in distribution footprint over the same period. In March, ECGI entered a binding letter of intent to acquire the key personnel, intellectual property, business operations and future business operations of Endless Consciousness Inc. (“EC”), whose primary asset is the 8bit branded cannabis products line; the company expects to sign a definitive agreement and close on the acquisition in the next few weeks. “8bit’s powerful growth rate over the past two months is further validation of our committed interest in this brand,” said ECGI CEO Danny Wong in the press release. “We are hard at work, actively driving further expansion of the brand’s footprint through current sales efforts and a plan to increase sales personnel to focus on aggressively penetrating the Northern California dispensary marketplace over coming months. We believe we can take further market share from industry leaders, like Stiizy and others, given the strength of our product line and the talented team backing 8bit.”
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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. For more information about the company, please visit [email protected].
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