FinCanna Capital Corp (CSE:CALI) a royalty company for the U.S. licensed medical cannabis industry is pleased to announce that further to its news release of January 11, 2019 wherein it announced the closing of the first tranche of its oversubscribed Secured Convertible Debentures (“Debentures”) financing of $2.4 million, FinCanna has upsized and closed the second and final tranche of the financing for an additional $2.4 million.  The aggregate proceeds of this financing total $4.8 million.

The Debentures will be secured by a general security interest, will mature two years from closing and will bear interest at 12% per annum, payable in cash or, at the option of the Subscriber, in common shares of FinCanna (“Common Shares”) subject to certain conditions. The Debenture is convertible into Common Shares at $.20 per share. Subscribers for Debentures will receive one common share purchase warrant (“Warrant”) for each $0.20 of principal amount of Debenture. Each Warrant will entitle the holder to acquire one Common Share of FinCanna for $0.30 at any time up to two years from the Closing Date.


FinCanna intends to use the net proceeds from the Convertible Debenture to fund additional royalty investment opportunities and the company’s ongoing working capital requirements.

“We’re very pleased to announce the successful completion of this significantly oversubscribed financing,” said Andriyko Herchak, CEO of FinCanna Capital. “We had very strong financial participation from our existing shareholders and our management team, representing a vote of confidence in the growth prospects of our company. We remain committed to building a strong and diversified royalty portfolio of high-growth companies, including our most recent addition of QVI Inc., a cannabis infused product manufacturer located in Sonoma County, California.  The capital from this financing along with ~US$3.9 million to be received from the sale of CTI’s Coachella Property provides us with a solid financial foundation to complete funding of all our existing royalty investments and further grow our diversified portfolio.”

FinCanna will pay a cash finder’s fee of 8% on a portion of the proceeds raised. The lead finder in the non-brokered financing is TriView Capital Ltd.

This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

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 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 additional information visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com.

FinCanna Capital Corp.
Andriyko Herchak, CEO & Director

Investor Relations:
Arlen Hansen
Kin Communications
1-866-684-6730
CALI@kincommunications.com

Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information based on current expectations. Statements about, among other things, the closing of the Convertible Debenture financing, expected terms and conditions of the Convertible Debenture financing, the completion, terms and size of the Convertible Debenture financing and the use of proceeds of the Convertible Debenture financing are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: the ability to find suitable subscribers for the Convertible Debenture and the risk that the Convertible Debenture financing will not close as currently contemplated, or at all. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that the Convertible Debenture financing will occur or that, if the Convertible Debenture financing does occur, it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. FinCanna assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

Click here to connect with FinCanna Capital Corp (CSE:CALI) for an Investor Presentation. 

Source: globenewswire.ca

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced the appointment of Marcum LLP (“Marcum”) as its independent registered public accounting firm, effective July 5, 2021 . Marcum was appointed following the resignation of MNP LLP (“MNP”) as the Company’s independent registered public accounting firm effective July 5, 2021 .

“We would like to thank MNP for their guidance and expertise over the past two years and we look forward to working with Marcum as the Company’s new independent registered public accounting firm,” stated Chief Financial Officer, Alex D’Amico.

Keep reading... Show less

Cannabis-infused beverages are not a new product concept, but this summer Canadian drink makers hope consumers will discover them for the first time.

Recreational cannabis beverages have beguiled Canadian producers through different avenues, and many continue to make investments. The promise of these drinks lies in the potential of a more welcoming option for new consumers who may be out of their depth with rolled-up dried flower.

Keep reading... Show less

In the news release, BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years, issued 07-Jul-2021 by BioHarvest Sciences Inc. over PR Newswire, we are advised by the company that an incorrect version of the release was issued inadvertently. The complete, corrected release follows:

BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years

Keep reading... Show less

Trulieve is the first medical cannabis operator to start planting in the state

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today that it commenced operations in West Virginia . The Company has begun cultivation at their 100,000 square foot size facility in Huntington, West Virginia .

Keep reading... Show less

– The Company demonstrates the efficiency and reliability of its BioFarming technology by reducing production cycle time for Cannabis from 14-23 weeks to 3-4 weeks.

– The Company’s BioFarming technology will allow the Company to harvest 13-17 cycles per year versus 2-4 cycles per year for conventional Cannabis agriculture.

Keep reading... Show less