FinCanna Receives US$3.9 million Repayment from Cultivation Technologies Inc. Company is Well Capitalized with C$8.5 million Treasury
FinCanna Receives US$3.9 million Repayment from Cultivation Technologies
Inc.
Company is Well Capitalized with C$8.5 million Treasury
VANCOUVER, British Columbia, March 06, 2019 -- FinCanna Capital Corp. (“ FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a
royalty company for the U.S. licensed medical cannabis industry announces that it has received US$3.9 million as partial
repayment of an outstanding secured loan from Cultivation Technologies Inc. (“CTI”). These funds were generated from the sale
of CTI’s Coachella property as initially announced on October 9, 2018.
FinCanna will continue to earn 50% of the profits of CTI’s Interim Extraction and Manufacturing Facility that is expected to
remain in operation on the site until June 2019 as agreed to with the new owner of the Coachella property.
Andriyko Herchak, President and CEO of FinCanna Capital states, “We are very pleased to receive this non-dilutive cash
injection, and our $8.5 million treasury puts FinCanna in an excellent position to complete further investments to give our
shareholders access and leverage to the burgeoning licensed cannabis market in the United States.”
About FinCanna
FinCanna is a royalty company that provides growth capital to rapidly emerging private companies operating in the licensed
U.S cannabis industry. The Company earns its revenue from royalties paid by its investee companies that are calculated
based on a percentage of their total revenues.
FinCanna’s scalable royalty model provides an attractive alternative or complement to debt or equity financing for its investee
companies. FinCanna is focused on delivering high-impact returns to its shareholders by way of a strategically diversified
investment portfolio.
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
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 sale and related closing of CTI’s property at
Coachella, the size and success of operations at CTI’s Interim Extraction and Manufacturing Facility, CTI’s ability to finance,
develop and operate its planned permanent craft extraction and premium manufacturing facility in Palm Desert 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.