LOS ANGELES, March 29, 2022 (GLOBE NEWSWIRE) -- via InvestorWire - ECGI HOLDINGS INC. (OTC: ECGI) (“ECGI” or the “Company”), D/B/A Elite Cannabis Group Incorporated, a Nevada-based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, is pleased to offer current and prospective shareholders with the following update on the Company’s operations.
“We are working to finalize a transaction to acquire key assets that will serve the purpose of granting us our Major Use License for the upcoming year so we can start our cultivation operations in full,” said William Chung, CEO of ECGI Holdings.
Beyond that strategic move, management notes that the Company is working toward several key acquisitions of intellectual property, talent, and tangible operating assets within the cannabinoid R&D and cannabis marketplace.
“We believe these steps will further drive our success within our mission of becoming a leading vertically integrated cannabis and cannabinoid Company in the United States, focusing on delivering high-grade products that will be easily accessible to our consumers,” Chung said.
The Company is working toward one specific key acquisition that management believes has the potential to represent an important step in bringing in assets, IP, and talent at the intersection of eastern pharmaceutical medicine. More details on this development will follow over the coming weeks.
Chung concluded, “We look forward to presenting more information in the near future and to step up our direct communications now that we are aggressively moving things forward. Our focus this year, among other things, will also be on state-of-the-art R&D around Tetrahydrocannabivarin (THC-V), which we believe has the potential to be the next big thing in the mainstream cannabinoid marketplace.”
About ECGI
ECGI Holdings, dba Elite Cannabis Group Incorporated, is a public holding company focused on creating a diversified shareholding portfolio in the emerging legal cannabis industry. The holding plays an active role in stimulating and guiding the development of its constituent companies, ranging from start-ups to well-established businesses.
Focused investments are carried out directly or via subsidiaries across all asset classes spanning the entire range of the legal cannabis industry. This includes not only real estate assets in the cultivation and manufacturing sector but also industry startups and veterans such as delivery, packaging, distribution, extraction, and last, but not least, direct-to-consumer branding.
The company has a long-term investment perspective and prefers to grow organically through acquisitions in fields where the management has significant experience. ECGI maintains close relationships with existing investment structures and funds. This fact, coupled with leadership in entrepreneurship, shows that ECGI is continually developing its pipeline of appropriate investment opportunities in its pursuit of being the premier holding company in the legal cannabis industry.
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
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