FinCanna Capital (CSE: CALI) (OTCQB: FNNZF) today announced that Refined Resin Technologies Inc., an investee company of FNNZF, has achieved its California state Temporary Manufacturing License for Adult and Medicinal Cannabis Products. The conditional license permits Refined Resin to engage in commercial cannabis activity and positions it to submit for its annual license by the end of the year. Refined Resin’s previously submitted Oakland City Building Permit to refit its 6,000 square foot manufacturing facility for full production is also expected by Dec. 31, 2018. Construction at the facility is anticipated to be completed roughly 90 days from approval and production is expected to commence the following month. “California is a well-regulated jurisdiction and acquiring the right licenses in a timely manner is essential to success,” FinCanna Capital President and CEO Andriyko Herchak stated in the news release. “We are impressed with the Refined Resin leadership team as they skillfully drive their business towards build out and commercialization of their Oakland based manufacturing facility.”
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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.
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