ECGI Holdings (OTC: ECGI), today announced a change in its corporate strategy to implement a special acquisition model operating within the fast-growing legal cannabis marketplace. Over the coming weeks, ECGI’s board of directors will unveil a new management team possessing extensive experience in California’s regulated cannabis marketplace. In addition, ECGI intends to update its corporate identity to Elite Cannabis Group, Inc. and operate out of new offices in the Los Angeles, California, area while retaining its Nevada corporate business registration. “The first task of the new management team will be to update all required filings and solidify the offer on our first cannabis real estate and licensed business operation,” ECGI Holdings Chairman William Chung stated in the news release. “With our first acquisition offer out, we will then work to solidify a new network of investors to fund our real estate properties and operations. Our business and acquisition emphasis will be primarily on real estate properties licensed with cannabis cultivation, manufacturing, distribution and delivery service operations, where we can implement selected vertical integration to reduce costs across the entire business spectrum. We are also interested in acquiring properties zoned for cannabis cultivation and processing that have excellent chances to be granted state and local permits. We believe such properties will rise in value as the size of the overall cannabis market increases and as local jurisdictions decrease license issuance rates.”
To view the full press release, visit https://ibn.fm/j4cgR
About ECGI Holding, Inc.
ECGI Holdings, Inc, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with targets of California distressed cannabis assets, properties zoned for cannabis cultivation and process, and cannabis companies operating in market sectors with national expansion possibilities. Additional information on the company can be gained by contacting [email protected].
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