FinCanna Capital (CSE: CALI) (OTCQB: FNNZF), a royalty
company for the U.S. licensed medical cannabis industry, this morning announced
that it has advanced the second tranche of capital, $1 million, to its investee
company Refined Resin Technologies Inc. Refined Resin is using the series of
tranches to implement its three-phase development strategy to operationalize
its legally zoned, state-of-the-art medical cannabis extraction laboratory.
Presently, Refined Resin has placed deposits and has funds in reserve to
purchase all the essential equipment to start production once installed. The
extraction facility is anticipated to be in commercial operation by late 2018
or early 2019. “We are very pleased to see the company aggressively pursue the
acquisition of the highly specialized and customized equipment that we believe
will set them apart in the sector once in commercial operation,” FinCanna
Capital President and CEO Andriyko Herchak stated in the news release. “Refined
Resin is led by a team of very seasoned operators that have extensive
experience in all areas of the business. Their manufacturing know-how coupled
with state of the art, high volume customized production technology is a
combination that we believe will drive substantial financial results as the
business moves from design through build out and ultimately into commercial
production.”
To view the full press release, visit http://ibn.fm/0d463
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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