ECGI Holdings Enhances Its Board of Directors, Targeting the Growing California Cannabis Industry

Rhea-AI Summary

ECGI Holdings, Inc. (OTC PINK:ECGI) announced the addition of Deepak Panjwani to its board of directors, aiming to enhance its strategic focus on the California cannabis market. Panjwani brings extensive experience in cannabis operations and finance, previously holding key roles in the industry and corporate finance. The company is also transitioning its identity to Elite Cannabis Group, Inc. and plans to realign its business model towards acquisitions in the cannabis sector. This change could position ECGI for growth in a dynamic market.

Positive

• Deepak Panjwani's extensive cannabis industry experience may provide valuable guidance for strategic growth.
• The transition to Elite Cannabis Group, Inc. could enhance brand recognition and market positioning.
• Plans for acquisitions in California cannabis markets may open new revenue streams and operational opportunities.

Negative

• There is potential risk regarding continuity and experience gaps with the management shift.
• The reliance on new management to execute the strategic vision may present operational risks.

LOS ANGELES, April 13, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ECGI Holdings, Inc. (OTC PINK:ECGI) (“ECGI” or the "Company") today announces the addition of Deepak Panjwani to its board of directors.  Mr. Panjwani has extensive cannabis industry experience and will be instrumental in guiding ECGI as it expands its business opportunities in the California cannabis markets and as the Company changes its corporate identity to Elite Cannabis Group, Inc. 

ECGI CEO William Chung commented, “We are extremely grateful to welcome Deepak to the ECGI family.  His very significant knowledge of the cannabis industry combined with his specific cannabis and finance industry experience will be well utilized as we move our business plan forward.”

Deepak Panjwani is a professional cannabis connoisseur with years of cannabis, finance and compliance experience.  He is currently a managing partner at a holistic wellness lifestyle company that offers a line of CBD-infused energy products and additionally serves as the CEO of a technology company specializing in creating software solutions and supporting cannabis operations.  Prior, Mr. Panjwani was the director of operations and inventory for a vertically integrated cannabis company and a general operations manager for a cannabis cultivation facility.  Before transitioning to the cannabis industry professionally, Mr. Panjwani booked over 11 years of corporate finance and compliance with Bloomberg LP, New York Life Insurance Company and HSBC Bank.

Mr. Panjwani also currently serves on the board of directors for Green America, a national 501(c)(3) nonprofit organization whose mission is to harness economic power — the strength of consumers, investors, businesses and the marketplace — to create a socially just and environmentally sustainable society.

Mr. Chung continued, “The cannabis markets are especially dynamic at present, which is creating substantial opportunities to acquire and operate cannabis cultivation, processing and delivery services.  We have our sights on several of these properties, and we will be working toward definitive agreements.  In the meantime, our investors can expect to see us announce our new management team over the coming weeks.”

ECGI recently announced its intention to change its corporate identity to Elite Cannabis Group, Inc.  The Company plans to retain its Nevada corporate business registration but will physically operate out of new offices in the Los Angeles, California, area.  ECGI intends to realign its corporate strategy toward an acquisition model within the fast-growing legal cannabis marketplace. The Company will target the entry into selected California cannabis business areas that can be successfully expanded into a national footprint.

About ECGI Holdings, Inc.

ECGI Holdings, Inc, which plans to operate as Elite Cannabis Group, is organizing as an acquisition-oriented corporation with targets of California distressed cannabis assets, properties zoned for cannabis cultivation and process, and cannabis companies operating in market sectors with national expansion possibilities.  Additional information on the Company can be gained by contacting info@ecgiholdings.com.

Forward-looking Statements

This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan" or similar phrases that may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and filed with the OTC Markets Group.

For more information, please contact:

William Chung

Info@ECGIholdings.com

SOURCE: ECGI HOLDINGS, INC.

Wire Service Contact
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
Editor@InvestorWire.com

FAQ

Who is Deepak Panjwani and what is his role at ECGI?

Deepak Panjwani is a new board member at ECGI, bringing extensive experience in the cannabis industry and corporate finance.

What changes is ECGI making in its corporate identity?

ECGI is changing its corporate identity to Elite Cannabis Group, Inc. to better align with its business strategy.

How will Deepak Panjwani's experience impact ECGI's business strategy?

His experience in cannabis operations and finance is expected to guide ECGI in expanding its business opportunities in California's cannabis markets.

What are ECGI's plans for the California cannabis market?

ECGI plans to pursue acquisitions in the California cannabis market as part of its new strategic direction.

What is ECGI's stock symbol?

ECGI's stock symbol is OTC PINK:ECGI.