FinCanna Capital Reiterates Business Objectives of Financing Licensed Medical Cannabis Operations in California
FinCanna Capital Reiterates Business Objectives of Financing Licensed
Medical Cannabis Operations in California
Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, Jan. 08, 2018 -- FinCanna Capital Corp. (“ FinCanna”) (CSE:CALI), which raised
approximately C$14m before commencing trading on the CSE on December 29, 2017, reiterates its business objectives for the
benefit of its new shareholders.
FinCanna is a royalty company for the licensed medical cannabis industry which invests in sizable and scalable best-in-class
businesses. The Company’s business objective is to provide capital solutions to top-tier companies with large scale potential
and with highly skilled and experienced operators in exchange for a royalty based on a percentage of revenues.
FinCanna is focussed on California, the largest legal medical cannabis market in North America and the first state to legalize
medical cannabis in 1996. FinCanna invests only in companies that operate ethically and in full compliance with all state laws
and local regulations in the medical cannabis sector.
FinCanna’s flagship investment is in Cultivation Technologies Inc. (“CTI”) pursuant to a Funding Agreement dated April 20,
2017 between FinCanna and CTI (the “Funding Agreement”). CTI plans to construct in phases, a 111,500 ft 2 facility on the
Coachella Property, a six-acre property which it owns outright in Coachella, California. This will include an approximately
81,600 ft2 cultivation center to vertically grow indoor, ultra-premium medical cannabis in a controlled atmosphere without the
use of chemical pesticides, a 9,000 ft 2 extraction and manufacturing center and an additional 26,300 ft2 for testing, distribution,
nursery, centralized processing and offices (the “Coachella Facility”).
CTI currently holds local permits for the Coachella Property that allow for construction of the project and permit CTI to conduct
medical cannabis operations on-site, subject to regulatory requirements. Pursuant to the Funding Agreement, FinCanna has
agreed to fund certain amounts of capital to CTI to purchase a royalty of 10% of CTI’s revenues.
CTI has also established an interim medical cannabis extraction facility (the “Interim Facility”) on the Coachella Property in
accordance with CTI’s Conditional Use Permit. This lab will produce medical extracts for sale, is currently in operation, and is
expected to remain in operation during the construction of the Coachella Facility. Currently, the Interim Facility can process an
estimated 6,000 pounds of biomass per month which can produce approximately 3.7 million grams of raw oil per year.
FinCanna is entitled to receive 50% of the profits of CTI which are derived from the Interim Facility.
FinCanna remains committed to its business objective of building its portfolio of investments by sourcing and funding additional
top-tier companies and projects operating in the licensed medical cannabis sector in exchange for royalties on revenues.
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,
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 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
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 FinCanna’s ability to source suitable projects, the development and construction of the Coachella
Facility, and the size and success of operations at the Interim Facility and FinCanna’s ability to generate revenues therefrom.
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.