TRANS
GLOBAL GROUP, INC.
- ISSUES CORPORATE UPDATE
Coconut Creek, FL
-- June
29, 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's status
and
provide insight as to
the direction the
Company
is headed over through the
course of
2018.
The first half of the
year was not as exciting for TGGI as was anticipated;
this
was due to delays
beyond
the
control of the Company. Over the next 6
months, the Company plans on
making up for lost time, and should end the
year on high note.
TGGI currently has
one source of revenue,
this is
from the device it shares with Cannabis Consortium. Until
such time
as that device comes
to the
market,
TGGI will
not book any revenues.
TGGI and Cannabis
are currently
negotiating terms to
assign 100% ownership of the device to TGGI. TGGI would then have
full control of its destiny. Part of the negotiations is for
Cannabis to sell the device under it edibles line in every state
they have distribution in.
TGGI would seek a
cash infusion as part of the deal and will have to return a
significant portion of the shares of BDCI as part of the
exchange.
The large amount of
stock looks nice on the balance sheet, but does nothing to move the
Company forward. TGGI would only be able to sell 1% every 90
days starting in mid
November and part of that 1%
includes whatever our President sells, if he sells shares
that
amount to
1% then TGGI would not be able to sell any.
TGGI would finish
development of the device file all the patents under its own name.
The Company could then approach other edible companies about
setting private label deals with them as well. TGGI needs to be
able to control its own revenue and not rely on others;
this
transaction is what's best for the shareholders of TGGI.
The real gains for
TGGI will come from Integrated Cannabis Solutions (OTC:IGPK), the
device works nicely under this name. The company has never been an
SEC reporting company so we are looking into auditing the last 2
years so the company can move up to the OTCQB; then after sales
begin, file a Form
10.
Furthermore,
we
have been negotiating numerous
other
transactions
for
IGPK, and
would
hope to
have significant
news that will boast the
bottom line as early as this year.
While
TGGI
had 821
million shares returned to the Company last year, it is still
committed to further reducing its share structure.
The total
number of shares the Company is seeking to reduce is still
a total
of 3 billion
shares minus the 821 million
already returned. The Company will
not place a time table for the further
reductions
and will
share with its shareholders as it has in the past when it retires
shares.
TGGI would like to
clarify, it does not receive
any revenue from BDCI or Cannabis Consortium, the only revenue the
Company is entitled to, is from the device
and it is seeking to get control of the device back.
TGGI
does
not
consider BDCI a subsidiary, since its
ownership was reduced to about
30% as of January 1,
2018 and is no longer the
single largest shareholder of that
company.
More information
regarding the statements made in this release
will be released in the
June
30 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