Vancouver, British Columbia--(Newsfile Corp. - January 3, 2018) - FinCanna Capital Corp. (CSE: CALI) is the latest new listing on the Canadian Securities Exchange, trading under the symbol "CALI". FinCanna is a royalty company for the Licensed Medical Cannabis industry, focused on investing in top-tier licensed medical cannabis companies in California.
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In exchange for financing, FinCanna will receive royalties from these licensed medical cannabis and related operations.
To date, FinCanna has completed approximately CDN$14 million in financing to support its flagship investment in Cultivation Technologies (www.CultivationTech.com). Based in Irvine, California, Cultivation Technologies is developing a significant, state-of-the-art medical cannabis project and has already secured permits to construct a fully-entitled, 111,500 square foot permitted medical cannabis facility on a six-acre property in Coachella, Southern California.
FinCanna is initially focused on California since it is the sixth largest economy in the world and the largest medical cannabis market in North America. Analysts estimate that the California legal cannabis industry will grow to $6.5 billion by 2020, and generate upwards of $1 billion in tax revenue.
Andriyko Herchak, CEO, stated: "We are very excited to be a part of the growing industry of licensed medical cannabis, and our public listing offers investors increasing access to top-tier businesses in the United States, particularly California. While the legalization of recreational cannabis is highly anticipated in California, we remain focused on our core competency of sourcing and financing ethical and regulated companies operating in the licensed medical cannabis business to leverage the paradigm shift in the industry."
The shares are trading at $1.28, and with 66.3 million shares outstanding, the company is capitalized at $84.9 million.
For more information, please visit the company's website at www.fincannacapital.com, contact Andriyko Herchak, CEO, at 778-384-4447 or email [email protected]. Investor relations is handled by Arlen Hansen of Kin Communications, who can be contacted at 1-866-684-6730 or by email at [email protected]
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