FinCanna Capital Corp. Comments on the Passage of the U.S. Consolidated Appropriations Act 2018 Retaining State Medical Marijuana Protections Act Continues Protections for the Implementation of State Medical Marijuana Programs
FinCanna Capital Corp. Comments on the Passage of the U.S. Consolidated
Appropriations Act 2018 Retaining State Medical Marijuana Protections
Act Continues Protections for the Implementation of State Medical Marijuana Programs
VANCOUVER, British Columbia, March 26, 2018 -- FinCanna Capital Corp. (“ FinCanna”) (CSE:CALI) (OTCQB:FNNZF)
provides the following comments regarding passage in the USA of the “Consolidated Appropriations Act, 2018” a $1.3 trillion-
dollar spending bill, which continues protections for the implementation of state medical marijuana programs through fiscal
year end, September 30, 2018.
FinCanna welcomes this positive development and will continue to monitor any changes in the U.S. legal regime.
The United States Congress previously used a rider provision in the FY 2015, 2016, and 2017 Consolidated Appropriations
Acts (formerly the Rohrabacher-Farr Amendment) to thwart the federal government from using congressionally appropriated
funds to prevent states from implementing their own laws that authorize the use, distribution, possession, or cultivation of
medical marijuana. The 2018 appropriations protection, now known as the “Leahy Amendment,” continues this provision to 46
states, the District of Columbia, Guam, and Puerto Rico, with the exclusion of Idaho, Kansas, Nebraska, and South Dakota.
The 2018 spending bill also continues existing provisions shielding state industrial hemp research programs from federal
interference; however, it provides no protection for state-legal adult-use businesses or consumers. Although impermanent at
this time, it is critical that Congress continue to include these temporary protections until comprehensive policy reform can be
achieved.
Andriyko Herchak, CEO and Director of FinCanna states, “Our business has always been focused on financing top-tier
companies in the licensed medical cannabis industry. We remain focused on the medical cannabis markets in States covered
by this Act and believe this gives us a strong competitive edge in advancing the business to create strong shareholder value.”
As announced on January 15, and March 19, 2018, Cultivation Technologies Inc. (“CTI”), a portfolio company of FinCanna, took
over direct operations of its Extraction Facility operating at its site in Coachella, California and CTI has the rights to 100% of
the production capacity. CTI is quickly advancing towards commercialization and ramping revenue at the Extraction Facility
from which FinCanna is entitled to receive 50% of the profits.
This Extraction Facility can currently process an estimated 6,000 pounds of biomass per month translating to approximately
3.7 million grams of raw oil per year. CTI has the ability to add an additional extraction machine and fractional distillation and
winterization equipment. This would result in additional capacity to process 3,000 pounds of biomass per month and the
ability to service third-party vaporizer, winterization and distillation customers at a scale of approximately 100,000 grams of
finished product weekly.
About Cultivation Technologies
Cultivation Technologies, Inc. provides infrastructure, technology, and branding to the licensed medical cannabis industry. The
first major project for the company is in Coachella, California, which will span 6-acres featuring cultivation centers, extraction
and manufacturing facilities, a testing lab, a distribution hub, and a centralized processing center. For more information,
visit www.CultivationTech.com.
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 in U.S. legal states, with a focus on California. 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 CTI’s future production and how the developing U.S. legal regime will impact the cannabis
industry. 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 identified in the CSE listing statement and other reports and filings with the applicable Canadian securities
regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that
statements are made, and the respective companies undertakes no obligation to update forward-looking statements if these
beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws.
Investors are cautioned 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.