NetworkNewsBreaks – FinCanna Capital Corp. (CSE:
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Posted On: 03/06/2019 3:47:35 PM
NetworkNewsBreaks – FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) Receives $3.9M Non-Dilutive Cash Injection from Cultivation Technologies Inc.
Royalty company for the U.S. licensed medical cannabis industry FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) today announced its receipt of US$3.9 million as partial repayment of an outstanding secured loan from Cultivation Technologies Inc. (“CTI”). According to the update, the funds were generated from the sale of CTI’s Coachella property, and FinCanna will continue to earn 50 percent of the profits of CTI’s Interim Extraction and Manufacturing Facility that, as agreed to with the new Coachella property owner, is expected to remain in operation on the site until June 2019. “We are very pleased to receive this non-dilutive cash injection,” FinCanna President and CEO Andriyko Herchak said in the news release, continuing, “and our $8.5 million treasury puts FinCanna in an excellent position to complete further investments to give our shareholders access and leverage to the burgeoning licensed cannabis market in the United States.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Royalty company for the U.S. licensed medical cannabis industry FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) today announced its receipt of US$3.9 million as partial repayment of an outstanding secured loan from Cultivation Technologies Inc. (“CTI”). According to the update, the funds were generated from the sale of CTI’s Coachella property, and FinCanna will continue to earn 50 percent of the profits of CTI’s Interim Extraction and Manufacturing Facility that, as agreed to with the new Coachella property owner, is expected to remain in operation on the site until June 2019. “We are very pleased to receive this non-dilutive cash injection,” FinCanna President and CEO Andriyko Herchak said in the news release, continuing, “and our $8.5 million treasury puts FinCanna in an excellent position to complete further investments to give our shareholders access and leverage to the burgeoning licensed cannabis market in the United States.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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