ECGI Holdings (OTC: ECGI), D/B/A Elite Cannabis Group Incorporated, a Nevada -based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, is releasing an update regarding the expansion of 8-Bit Buds, its soon-to-be-acquired cannabis brand. According to the announcement, the 8-bit cannabis brand has grown from 20 cannabis stores to 62 cannabis stores in the past four months, an impressive 225% increase in distribution footprint. In addition, the company showed strong topline growth during the same period. According to the report, the company is also preparing to launch a new pre-roll cannabis product line designed to support continued growth as well as market share penetration. The new product line will be comprised of three new offerings. In March, the company entered into a binding letter of intent outlining the acquisition of certain assets of Endless Consciousness (“EC”) Inc., including key personnel, intellectual property, business operations and future business operations. A California corporation operating in the legal cannabis product sector, EC’s primary asset is its 8-bit branded cannabis products line. “We are excited about the prospect of wrapping up this acquisition with a finalized definitive agreement over coming weeks,” said ECGI Holdings CE Danny Wong in the press release. “8-bit has continued to expand as a brand, catching fire with distributors and end-market consumers in the California cannabis products space since the signing of our binding agreement in March. We are more confident than ever that this acquisition represents a critical growth opportunity for our stakeholders, and we look forward to demonstrating that in the back half of the year.”
To view the full press release, visit https://ibn.fm/R5kg9
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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