NetworkNewsBreaks – FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) Receives $3.9M Non-Dilutive Cash Injection from Cultivation Technologies Inc.
Mar 6, 2019
Royalty company for the U.S. licensed medical cannabis industry FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) today announced its receipt of US$3.9 million as partial repayment of an outstanding secured loan from Cultivation Technologies Inc. (“CTI”). According to the update, the funds were generated from the sale of CTI’s Coachella property, and FinCanna will continue to earn 50 percent of the profits of CTI’s Interim Extraction and Manufacturing Facility that, as agreed to with the new Coachella property owner, is expected to remain in operation on the site until June 2019. “We are very pleased to receive this non-dilutive cash injection,” FinCanna President and CEO Andriyko Herchak said in the news release, continuing, “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.”
To view the full press release, visit http://nnw.fm/YG8Mz
About FinCanna Capital Corp.
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 more information, visit the company’s website at www.FinCannaCapital.com.
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