FinCanna Capital Corp. Comments on Rescission of Cannabis Guidance in the U.S.
FinCanna Capital Corp. Comments on Rescission of Cannabis Guidance in the
U.S.
Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, Jan. 05, 2018 -- FinCanna Capital Corp. (“ FinCanna”) (CSE:CALI) provided an update in
response to the recent U.S. federal cannabis law memo issued by United States Attorney General Jeff Sessions which
rescinded five memos from the Obama administration often collectively referred to as the “Cole Memo”. FinCanna notes that
the memo from Sessions does not implement any change to the federal law but rather removes previous non-binding guidance
issued to U.S. attorneys and reinforces that federal prosecutors should exercise their discretion in determining whether to
prosecute cannabis-related violations of U.S. federal law.
FinCanna CEO, Andriyko Herchak, comments, “Based on the nature of the memo from Sessions and the public response
from several U.S. attorneys, we don’t expect any real impact on the growth potential of the licensed medical cannabis industry
operating legally under state laws and the companies in which we seek to invest. We will continue to pursue our business
strategy of investing in best-in-class businesses in the licensed medical cannabis industry that operate in full compliance with
all state laws and local regulations.”
Given the near overwhelming public support for licensed medical cannabis in the U.S. i, FinCanna believes that Session’s
recent actions could create an impetus for members of both political parties to unify in efforts to create a clear federal policy in
support of the licensed medical cannabis industry. FinCanna will continue to monitor any development in the U.S. legal
regime.
About FinCanna Capital Corp.
FinCanna is a royalty company for the licensed medical cannabis industry, with a focus on California. FinCanna, led by a team
of finance and industry experts, is building its portfolio of investments in scalable, best-in-class projects. FinCanna’s flagship
investment is with Cultivation Technologies Inc. (“ CTI”) to provide funding for its fully-entitled, large-scale indoor medical
cannabis facility to be developed in Coachella, Southern California. This Coachella Campus will be a state-of-the-art facility
that will include cultivation, extraction, manufacturing, testing and distribution. For additional information visit
www.fincannacapital.com.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Investor Relations:
Arlen Hansen
Kin Communications
1-866-684-6730
Forward-Looking Information
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limitation, statements about how the developing U.S. legal regime will impact the cannabis industry. By their nature, forward-
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against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances unless required by applicable law.
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i Source: https://poll.qu.edu/national/release-detail?ReleaseID=2432.(showing public support for medical cannabis in the U.S.
to be at 93%)