TRANS GLOBAL
GROUP, INC. ISSUES CORPORATE UPDATE
-
TGGI will book
assets of $9 mill for the first
quarter
-
Second subsidiary trades
over $0.01
-
TGGI owns 540 mill out of 645 mill shares
in new subsidiary
Coconut Creek, FL
-- April
26, 2018
-- InvestorsHub NewsWire -- Trans
Global Group, Inc.
(OTCPK:
TGGI)
would
like to take this opportunity to
bring all
of its shareholders up-to-date on the Company
and share some insights as to where the
Company is headed over the course of the rest of
2018.
On
04/25/2018 the Company
announced
it received the financials for the
public
traded entity it
purchased a controlling interest
in on
October
17,
2017. TGGI owns 540
million shares of restricted Common stock out of 645 million based
on the subsidiary
company's 2017 Annual
Report.
The
entity purchased last year is an OTCPink company that consistently
trades over $0.01. The Company has never been a reporting company,
and has always been an OTC company. This means TGGI can audit the
company when the time is right and file a Form 10 without having
any open accounting issues from the past.
The
new entity will be used to purchase and hold assets just like
Cannabis Consortium is being used for BDCI, except the entity TGGI
owns is already a
public
trading
entity. Trading ability makes the subsidiary
more
appealing to financiers and also helps
to close
transactions.
The
share structure and price of the new entity gives TGGI some
negotiating leverage for acquisitions. Tethered with our
ability to raise non-dilutive capital, this
is the
perfect combination to close deals.
Management of TGGI
has already
identified
opportunities to merge into the entity within the MJ sector that
are different than those of Cannabis Consortium's to give TGGI its
own identity.
Although TGGI has a
deal with Cannabis Consortium and will generate revenue from the
sales of the device through Cannabis's outlets, TGGI needs to
control its own destiny. These new assets will
give TGGI the ability to book its own revenue, increase its asset
base, as well as the flexibility to complete its share redemption
without relying on any one company.
More
information regarding the statements made in this release
along with more information about the new trading
entity majority owned by TGGI will be
released in the March 31
Quarterly Report.
The foregoing press
announcement contains forward-looking statements that can be
identified by such terminology such
as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
Contact:
Matt Dwyer
matt@transggi.com
954-905-9896
