FinCanna Advances Final Tranche of Capital to Refined Resin Technologies Inc. Refined Resin Hits Key Licensing and Permit Milestones
FinCanna Advances Final Tranche of Capital to Refined Resin Technologies
Inc.
Refined Resin Hits Key Licensing and Permit Milestones
VANCOUVER, British Columbia, Dec. 06, 2018 -- FinCanna Capital Corp. (“ FinCanna”) (CSE: CALI) (OTCQB: FNNZF), a
royalty company for the U.S. licensed medical cannabis industry, has advanced US $750,000, the third and final tranche of its
US $3 million capital commitment, to its investee company Refined Resin Technologies Inc. (“Refined Resin”) of Oakland,
California. Refined Resin is a cannabinoid research and extraction company that provides B2B and B2C products and services
to licensed dispensaries and distributors in the medical cannabis supply chain.
This capital is the third and final tranche to be advanced as Refined Resin implements its three-phase development strategy to
operationalize its legally zoned, 6,000 square foot, state-of-the-art medical cannabis extraction laboratory. This final payment
will fund Refined Resin through build out.
Refined Resin has now finalized its architectural renderings and submitted for its Building Permit (the “Permit”) which kicks-off
its phase-two build-out program prior to full commercialization. Initial site inspections by Oakland city authorities have
occurred and the Permit is expected prior to Dec. 31, 2018. Upon approval, construction refit of its 6,000 square foot
manufacturing facility will commence and will include installation of all manufacturing equipment required for full production.
The construction is expected to be completed in approximately 90 days of Permit approval with initial production the month
after.
Refined Resin has also submitted and received it first signature approvals for its Cannabis Permit Application Inspection Card,
which, once complete, will allow the company to conduct its business within the City of Oakland. Full approval is granted upon
final fire and safety inspection of the manufacturing facility.
Based on these initial city permit approvals, Refined Resin has submitted for its California Temporary License for Cannabis
Manufacturing and its Temporary Cannabis Distributor License under the state’s Type 7 license protocols. Upon approval of
these licenses Refined Resin expects to submit for the Annual State Permit by Dec. 31, 2018.
Upon completion of construction and receipt of the required permits Refined Resin will be moving expeditiously to fulfill
previously announced annual minimum purchase orders of $10,400,000. The company expects to add to that total based on
buying interest from a number of significant parties.
For more information on FinCanna’s now funded, initial royalty arrangement with Refined Resin including information regarding
FinCanna’s right to acquire an “additional royalty” for the consideration of US $1.795 million in cash and stock as previously
announced please visit the Refined Resin portfolio overview.
“We are very pleased to see the company hitting key milestones as it moves towards full commercialization,” said Andriyko
Herchak, President and CEO of FinCanna Capital. “With its strong leadership team in place we have every confidence that the
company will deliver a first class facility and with its deeply rooted industry relationships continue to build on its already
growing order book to the benefit of both Refined Resin and our FinCanna shareholders.”
Refined Resin’s intention is to become a premier producer of bulk quantities of THC distillate and various high value
concentrates produced via hydrocarbon-based solvent extraction. The company also plans to provide white-labeling services to
licensed brands and infused product manufacturers who do not have direct access to compliant production facilities. Brands
and manufacturers who work in conjunction with Refined Resin will also be able to utilize their in-house distribution and
marketing expertise as part of their value-add service offering.
About Refined Resin Technologies Inc.
Refined Resin Technologies, based in Oakland, California, is a cannabinoid research and refinement company focussed on the
medical cannabis industry to provide B2B and B2C products and services to licensed dispensaries, infused product
manufacturers and numerous others in the medical cannabis supply chain.
About FinCanna Capital Corp.
FinCanna provides financing to top-tier companies in the licensed medical cannabis industry in exchange for a royalty on
revenues. FinCanna, led by a team of finance and industry experts, is building its diversified portfolio of royalty investments in
scalable, best-in-class projects and companies exclusively in U.S. legal states, with a focus on California.
The company is differentiated by its royalty business model that is based upon providing capital to best in class U.S. cannabis
businesses for a percentage of their top line revenue. It is a “stream of income” model that supports the growth of investee
companies by providing them with an infusion of cash on terms that are less restrictive than debt and without the requirement
to surrender a large equity stake in their business.
In return, FinCanna receives ongoing cash payments based on a negotiated percentage of an investee’s topline revenue.
FinCanna diversifies its risk by investing in multiple sectors to generate multiple income streams in various industry verticals.
For additional information visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Investor Relations:
Arlen Hansen
Kin Communications
1-866-684-6730
Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-
looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often
address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or
occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without
limitation, statements about the market for, and effectiveness of, Refined Resin Technologies Inc. products or services, the
ability of Refined Resin to expand operations and generate sales and revenues, the results of operations of Refined Resin and
the timing thereof, the completion of FinCanna’s investment in Refined resin, FinCanna’s ability to fund and source future
projects, and FinCanna’s ability to earn and realize revenues from its investee companies. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results,
performance or achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks
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