Royalty company serving the U.S. licensed medical cannabis industry FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) today provided commentary on the announcement of The Secure and Fair Enforcement (SAFE) Banking Act (H.R. 1595). On March 28, 2019, the bill was approved by the House Financial Services Committee, and it will now advance to the House floor for deliberation by the full legislative assembly. If passed, the bill will allow financial institutions to legally provide services to cannabis-related businesses operating in compliance with state laws. “This bill represents an important development in the continuing evolution of the industry,” FinCanna Capital CEO Andriyko Herchak stated in the news release. “As an investor in several rapidly emerging companies we know that access to banking services will significantly reduce transaction costs and increase the growth potential for businesses across the sector. Importantly, it also supports both safety and transparency for industry participants in what has been historically a cash-only enterprise.”
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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 in U.S. legal states, with a focus on California. For additional information visit www.FinCannaCapital.com
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