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 signed a binding letter of intent regarding the acquisition of key personnel, intellectual property, business operations and future business operations of Endless Consciousness Inc. (“EC”). A California corporation involved in the legal cannabis-product marketplace, EC recently launched a new brand, 8bit, which has experienced a rapidly expanding distribution footprint this year, with supplier relationships now reaching 20 dispensaries. Earlier this month, ECGI announced plans to acquire EC; the announcement observed that EC has serviced more than 250 stores and managed products for 1,000-plus stores located in several states, establishing a strong track record of sales experience. “We are very excited to move this deal forward, and assigning the ‘binding’ designation to our existing relationship helps to foster credibility with our current and future capital partners, driving value for our shareholders as we ramp up commercial operations,” said ECGI Holdings CEO Danny Wong in the press release. “EC, through their 8bit brand, has a top team, and we are now seeing that brand footprint grow. We are very well positioned to augment that growth as we bring this blue-chip team on board. . . . We look forward to keeping our current and prospective shareholders informed as we progress toward closing this acquisition and cementing our place as an emerging leader in the California cannabis marketplace.”
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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 info@ECGIHoldings.com.
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