FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF), a royalty company for the U.S. licensed medical cannabis industry, this morning announced that it has executed an expanded royalty agreement with Refined Resin Technologies Inc., formerly known as Gram Co Holdings LLC, of Oakland, California. Per the terms of the agreement, FinCanna will fund $3 million in tranches to complete the original royalty agreement transaction that was previously announced under a binding term sheet in February 2018. In return, the company will receive a tiered corporate royalty ranging from five to 14 percent of Refined Resin’s annual revenues, based upon predetermined benchmarks. “We are very pleased to close this transaction with Refined Resin Technologies. It’s an exciting opportunity for us on a number of levels,” Andriyko Herchak, president and CEO of FinCanna, stated in the news release. “The Refined Resin team is highly skilled in the production and management of a sophisticated extraction facility… Additionally, the team has very deep connections in the distribution and retail markets and are themselves very effective brand developers and marketers. Moreover, the potential capacity of the facility, and its ability to produce high value-add products bode well for the financial future of the enterprise and commensurately, outstanding value for FinCanna shareholders.”
To view the full press release, visit http://cnw.fm/Tia8O
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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