- FinCanna advances $2.25 million to Refined Resin Technologies and ezGreen Compliance
- California sales account for one-third of U.S. cannabis market
- California market projected to grow by CAGR of 23 percent to $6.5 billion by 2020
California is now home to the largest legal cannabis market in the world. A pioneer of medical marijuana, which it legalized in 1998, the state has gone a step further by legalizing adult use of marijuana as of January 1, 2018. As a result, sales, already accounting for one-third of legal cannabis sales revenues in the U.S., are projected to reach $4.3 billion in 2018 and continue to grow to $6.5 billion by 2020, according to Arcview Research & New Frontier Data. But such rapid growth won’t be possible unless the industry can attract funding, which means that the services provided by specialty financing company FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) will likely be in high demand. FinCanna Capital, a royalty company for the licensed U.S. medical cannabis industry, provides capital to licensed medical cannabis companies in exchange for a percentage of future cash flows under a royalty financing model.
FinCanna Capital might have taken a leaf from the mining industry playbook, since royalty companies, sometimes referred to as streaming companies, are active in the precious metals industry. They fund the…
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEDAR filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.