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 $1 million to its investee company, ezGreen Compliance, which offers a state-of-the-art enterprise compliance and point-of-sale software solution for licensed medical cannabis dispensaries and cultivators. Per the update, FinCanna has now advanced $1.75 million of the $3 million to be funded under the royalty agreement, which entitles FinCanna to a perpetual royalty equal to 10 percent of consolidated gross revenues of ezGreen, subject to certain buy-back options. “The ezGreen team is committed to creating state of the art compliance technologies that keep pace with a rapidly evolving regulatory environment,” Andriyko Herchak, President and CEO of FinCanna, stated in the news release. “Compliance reporting is quickly becoming an essential requirement for industry participants, and we believe ezGreen Compliance is perfectly positioned to capitalize on this very substantial market opportunity.”
To view the full press release, visit http://cnw.fm/ju4T3
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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