Trans Global Group Inc (OTCMKTS:TGGI) Updates on Share Structure, Cannabis Business

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We’ve been scouring around this week for cannabis plays that we’ve yet to discuss, and one of the ones we’ve come across is Trans Global Group Inc (OTCMKTS:TGGI). It represents a bottom-floor opportunity with shares presently trading in what we call the super-subpenny range (which spans from .0001-.0009).

 

That could also be changing rather quickly, as one of the updates recently given by the company pertains to a sizable reduction of shares. In addition to the information we’re about to relay, the company has also promised several other PR updates in coming weeks.

In August, Trans Global Group Inc (OTCMKTS:TGGI), which is the parent Company of Cannabis Consortium, Inc. (“CC”), initiated an extended restructuring phase to reduce the total number of Authorized shares and the total number of shares traded in the Float. To date, TGGI has successfully reduced its Authorized shares by over 2.7 billion Common shares and successfully reduced its Float by 300 million Common shares. There are two further planned reductions that will occur over the next few weeks that will reduce the number of free trading shares in the Float by an additional 530 million Common shares.

CC has spoken with, and will be retaining, Counsel coming up in October to prepare and file a Reg A so it can begin to access capital markets as a separate trading entity from TGGI. Once the Reg A has been approved, CC will work with a Market Maker to file a Form 15c-211 so the Company can independently trade under its own name and ticker symbol,

TGGI and its shareholders will remain the majority shareholder within CC. When CC begins trading as its own separate entity, a plan will be presented to TGGI shareholders allowing them to exchange a portion of their TGGI shares for CC shares. This action is intended to expand the shareholder base of CC and simultaneously both reduce TGGI’s Outstanding shares, and TGGI’s Float.

 

CC intends to apply for marijuana licenses in several U.S. states, beginning with, but not limited to, Colorado. After the Colorado licenses have been approved, CC plans to execute Joint Venture agreements in other states where cannabis has already been legalized. For the purposes of expediting the business plan and in order to quickly move to a revenue generation phase, the business lines are being structured in a manner that allows CC to effect sales without immediately requiring MJ licenses.

CC is comprised of four revenue streams compromising specialty items, foodstuffs, beverages, and one research division. Three of the revenue streams are derived from marijuana edibles, and the other revenue stream is derived from investments. The research division will focus on the medical benefits of CBD oils for the treatment of animals. For the specialty items, CC is retaining Counsel to file several patents and trademarks on the products the Company has already designed.

A company CC came across during its due diligence phase on potential acquisitions has an item that was being used in a specific non-MJ sector application. This item had sold millions of units at approximately $10 retail per unit and $1-$2 wholesale. CC felt that this price point would broadly fit the expectations of its intended market.

Rather than acquire the patent holding company and its live patent, CC recognized an opportunity existed to design a series of brand new and very different products in a manner that would allow for future patent applications in both the MJ and non-MJ sectors. It has completed the design of several specialty products that are a markedly different solution to the specific technological problems processes and materials, offered by the product it passed on.

The differences, both individually and combined, should allow for a series of patent applications to be filed by CC and be successfully granted by the U.S. Patent and Trademark Office (USPTO). Cannabis will additionally apply for a series of Trademarks to USPTO to register and protect the brand names and logos, as applicable. (Source: Accesswire)

Autumn is here, and it’s historically been a season of exciting activity in the cannabis sector, so you will likely see much of our coverage devoted to stocks in the space. As we mentioned at the top of the page, TGGI has promised a string of news updates, so we’re certainly going to be keeping a lookout for those. Stay locked to Street Register for updates, and we’ll deliver important developments on TGGI as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!

Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in TGGI stock, short or long.

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