FinCanna Announces Convertible Debenture Financing to Raise CAD $1.5 million FinCanna Management Team Subscribes to $500,000 of Placement
FinCanna Announces Convertible Debenture Financing to Raise CAD $1.5
million
FinCanna Management Team Subscribes to $500,000 of Placement
Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, Jan. 04, 2019 -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) a royalty company for the
U.S. licensed medical cannabis industry announces its intention to raise CAD$1.5 million by way of Secured Convertible
Debentures (“Debentures”).
The Debentures will be secured by a general security interest, will mature two years from closing and will bear interest at 12%
per annum, payable in cash or, at the option of the Subscriber, in common shares of FinCanna (" Common Shares") subject
to certain conditions. The Debenture is convertible into Common Shares at CAD$.20 per share. Subscribers for Debentures
will receive one common share purchase warrant (“ Warrant ”) for each CAD$0.20 of principal amount of Debenture. Each
Warrant will entitle the holder to acquire one Common Share of FinCanna for CAD$0.30 at any time up to two years from the
Closing Date. Closing of the offering has been set for January 9, 2019.
The FinCanna management team will subscribe for CAD $500,000 principal amount of the Debentures.
FinCanna intends to use the net proceeds from the Convertible Debenture to fund additional royalty investment opportunities
and the Company’s ongoing working capital and general corporate purposes.
“The strong participation of our management team in this financing coupled with the support of several existing shareholders is
a demonstration of our core belief in the future of the company,” said Andriyko Herchak, President and CEO of FinCanna
Capital. “Closing this financing will position FinCanna to take advantage of a strong pipeline of opportunities that we believe will
have very meaningful impact on our bottom line as we move into 2019.”
FinCanna will pay a cash finder’s fee of 8% on a portion of the proceeds raised. The lead finder in the non-brokered financing is
TriView Capital Ltd.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the
United States. The securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption
from such registration is available.
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 on going 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
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information based on current expectations. Statements about, among other
things, the closing of the Convertible Debenture financing, expected terms and conditions of the Convertible Debenture
financing, the completion, terms and size of the Convertible Debenture financing and the use of proceeds of the Convertible
Debenture financing are all forward-looking information. These statements should not be read as guarantees of future
performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially different from those implied by such statements. Such factors
include, but are not limited to: the ability to find suitable subscribers for the Convertible Debenture and the risk that the
Convertible Debenture financing will not close as currently contemplated, or at all. Although such statements are based on
management’s reasonable assumptions at the date such statements are made, there can be no assurance that the
Convertible Debenture financing will occur or that, if the Convertible Debenture financing does occur, it will be completed on
the terms described above and that such forward-looking information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place
undue reliance on the forward-looking information. FinCanna assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required by applicable law.