LOS ANGELES, Feb. 16, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – 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 pleased to issue the following Letter to Shareholders from the Company's CEO:

Dear Valued Shareholder,

I would like to begin today by expressing our sincere gratitude for your commitment, patience, and loyalty as shareholders of ECGI as we undertake a defining transition to drive shareholder value where we see a strong combination of strategic edge and outsized growth potential.

We will fill in further details in coming communications, but we want shareholders to understand now that we have already taken important strides toward commercial stage operations in the cannabis and cannabinoid space.

To help ECGI achieve success in this endeavor, we are excited to introduce Danny Wong as our acting Chief Financial Officer. Danny is a distribution and finance professional with deep experience in the cannabis and hemp industry. Over the past four years, he has served as a contract CFO and COO overseeing sales operations for more than 50 acres of indoor, greenhouse, and outdoor cultivation across multiple companies. Before that, Danny held management roles for leading Fortune 500 companies in the technology space.

The cannabis industry is rife with competition, but it is also evolving rapidly, opening up new opportunities and new avenues for disruption. As well as becoming a leading vertically integrated cannabis and cannabinoid company, ECGI is arming itself toward the establishment of a dominant presence in the wholesale and procurement center niche serving cannabis retailers throughout California, and eventually across the United States.

In short, we believe the cannabis wholesale market is underserved and represents a powerful opportunity. As we continue to lay our foundation, we have already identified several key acquisition opportunities and believe these steps will further drive us toward achieving our vision. We look forward to presenting additional details related to these acquisitions as well as new milestone achievements we are working toward right now.

Our leadership team has strong experience in the cannabis industry, and we look forward to providing our consumers with nothing but the best premium cannabis products and experiences as we work to drive value for our shareholders.

Sincerely,
William Chung, CEO

About ECGI

ECGI Holdings, dba Elite Cannabis Group Incorporated, is a public holding company focused on creating a diversified shareholding portfolio in the emerging legal cannabis industry. The holding plays an active role in stimulating and guiding the development of its constituent companies, ranging from start-up to well-established businesses.

Focused investments are carried out directly or via subsidiaries across all asset classes spanning the entire range of the legal cannabis industry. This includes not only real estate assets in the cultivation and manufacturing sector but also industry startups and veterans such as delivery, packaging, distribution, extraction, and last but not least, direct to consumer branding.

The company has a long-term investment perspective and prefers to grow organically through acquisitions in fields where the management has significant experience. ECGI maintains close relationships with existing investment structures and funds. This fact coupled with leadership in entrepreneurship, ECGI is continually developing its pipeline of appropriate investment opportunities in its pursuit of being the premier holding company in the legal cannabis industry.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets ().

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