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://cnw.fm/2xJxJ
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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