ECGI Holdings Inc (ECGI)

[BigJuan]

$ECGI NEWS: ECGI's New 8bit Cannabis Products Brand Sees 1,000% Annualized Distribution Channel Growth Since March

LOS ANGELES, May 17, 2023 /PRNewswire/ -- 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 excited to announce continued rapid growth in its soon-to-be-acquired cannabis brand, 8bit.

Specifically, the 8bit cannabis brand has expanded its active distribution footprint from twenty (20) cannabis stores to fifty (50) cannabis stores since the end of March, representing a 150% increase in distribution footprint in less than two months, which tops 1,000% annualized growth in distribution footprint over the same period.

As announced in a press release dated March 23, 2023, the Company signed a Binding Letter of Intent (the "Binding LOI") to acquire the 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's primary asset is its 8bit branded cannabis products line.

ECGI management notes that the Company anticipates closing the acquisition through the signing of a definitive agreement in coming weeks.

"8bit's powerful growth rate over the past two months is further validation of our committed interest in this brand," noted ECGI CEO, Danny Wong. "We are hard at work, actively driving further expansion of the brand's footprint through current sales efforts and a plan to increase sales personnel to focus on aggressively penetrating the Northern California dispensary marketplace over coming months. We believe we can take further market share from industry leaders like Stiizy an others given the strength of our product line and the talented team backing 8bit."


https://www.otcmarkets.com/stock/ECGI/news?id=401132