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ECGI's 8-Bit Cannabis Expands Distribution to 65 Stores, Up 225% Since March

PR Newswire

LOS ANGELES, July 19, 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 update current and prospective shareholders on the continued expansion of its soon-to-be-acquired cannabis brand, 8-Bit Buds.

ECGI's 8-Bit Cannabis Expands Distribution to 65 Stores, Up 225% Since March
Specifically, the 8-bit cannabis brand has expanded its active distribution footprint from twenty (20) cannabis stores to sixty-five (65) cannabis stores since the end of March, representing a 225% increase in distribution footprint in less than four months.

Management notes continued strong topline growth during the same period. To foster continued accelerating growth and market share penetration, the Company is preparing to launch a new pre-roll cannabis product line, consisting of three (3) new SKU's, in the coming weeks to leverage the growth momentum at work in existing sales channels while continuing to add new channels.

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 8-bit branded cannabis products line.

"We are excited about the prospect of wrapping up this acquisition with a finalized definitive agreement over coming weeks," stated Danny Wong, CEO of ECGI. "8-bit has continued to expand as a brand, catching fire with distributors and end-market consumers in the California cannabis products space since the signing of our Binding Agreement in March. We are more confident than ever that this acquisition represents a critical growth opportunity for our stakeholders, and we look forward to demonstrating that in the back half of the year."

About ECGI

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 licensed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with nationwide expansion possibilities.