FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF), a royalty company for the U.S. licensed medical cannabis industry, this morning announced that it has advanced the initial tranche of capital totaling $1.25 million to its investee company, Refined Resin Technologies Inc. As key milestones are realized over the next few months, the company will continue advancing a series of tranches of capital to Refined Resin in accordance with the terms of the previously announced royalty agreement between the companies. The capital paid to Refined Resin will be used toward implementing its three-phase development strategy comprised of a facility design phase, build-out phase and pre-commercial production phase. “We are very pleased to initiate funding of Refined Resin’s highly detailed three phase development strategy that will culminate in full commercialization,” FinCanna Capital president and CEO Andriyko Herchak stated in the news release. “Refined Resin’s principals have extensive experience in extraction, manufacturing, business operations and marketing that has been evident in their ability to articulate a thorough development plan identified in this release. We believe they have the capabilities to launch and grow a highly lucrative business that will deliver substantial value to our shareholders.”
To view the full press release, visit http://cnw.fm/4XUVy
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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