May 13, 2021 (Source) — FinCanna Capital Corp. (“FinCanna“) (CSE:CALI)(OTCQB:FNNZF), a royalty company for the U.S. licensed cannabis industry is pleased to announce that its investee company QVI, Inc. doing business as “The Galley”, a cannabis infused product manufacturer located in Sonoma County, California has initiated production for Koala Edibles a Colorado based Company focused on supplying a variety of cannabis infused products to dispensaries.
David Perez of Koala Edibles said, “Since our first introduction to The Galley their vision and direction were bold. They wanted to do things right with efficacy and efficiency and they became pivotal in launching Koala into the State of California. It has been a wonderful experience working with Annie and her professional team, and they have always been willing to help in any way to ensure our launch is a success.”
Koala Edibles launched in 2018, in the mature Colorado cannabis market, and after nurturing a strong fan base, quickly became the #1 selling Chocolate Bar Edible, winning several accolades and subsequently expanding to 7 states. Building the brand on quality ingredients and unique flavor profiles, Koala’s growing customer base is clearly enthusiastic about their products as demonstrated by the numerous awards they’ve won including; Grand Champion, Colorado THC Classic 2020; 2nd place, Colorado THC Classic 2021 and 3rd place, 2021, Oregon High Times People’s Choice Awards.
Annie Holman, CEO of QVI Inc. stated, “We are really excited to have Koala Edibles as a client. They are widely recognized in Colorado as a top edibles brand and in particular for their wide array of chocolate products. To be selected as their co-manufacturing partner in California is a testament to the growing reputation we are building as a superior choice for brands when it comes to creating the very best products on the market. We believe Koala’s edibles will be highly popular with consumers in California leading to ongoing recurring orders for our manufacturing services to meet what we anticipate will be growing demand for their delicious products across the state.”
Andriyko Herchak, CEO of FinCanna Capital said, “With a growing reputation for excellence, CEO Annie Holman and her team continue to demonstrate their ability to win the business of prominent in and out of state brands. The addition of well-known brands like Koala Edibles to their growing book of recurring business bodes well for the long-term success of the company and ultimately for FinCanna shareholders.”
QVI’s 8,300 sq. ft. state of the art co-manufacturing facility (The Galley) located in Santa Rosa CA, is built to FDA and CDPH standards. The company attributes the acceleration of customer demand from a growing roster of over 35 in-state and out-of-state brands to its automated manufacturing expertise, superior production quality and its “one stop shop” capability to produce virtually all high-value cannabis products including, Edibles, Topicals, Tinctures, Chocolate, Hard Candies, Gummies and Beverages under one roof. Additionally, its outstanding R&D team has the ability to assist brands in launching not only new individual products but whole new product lines. The Galley’s operational design also positions the business to rapidly scale production as demand escalates towards its annual operating capacity of approximately US$45 million. In addition, and recently launched as an extension of services provided by The Galley, Trident Distribution is focused on developing and expanding full-service distribution for licensed cannabis brands initially targeting the San Francisco Bay Area and extending out across Northern California. Trident has the additional focus of providing full-service sales representation for brands at the dispensary level.
QVI’s immediate goal is to become the premier contract cannabis manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
The legal U.S. cannabis market is expected to reach more than US$41 billion in annual sales by 2025 with California, the single largest market in North America, representing an estimated 20% market share or US$8.2 billion. (New Frontier Data)
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 of 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.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All forward looking statements, other than statements of historical fact, included herein include but are not limited to the statements relating to the effectiveness of QVI’s products or services, the ability of QVI to continue and expand operations and the timing thereof, the success of sales and other marketing plans, the size, expected capacity, success of operations and future revenues and timing thereof, QVI’s ability to obtain financing for the development of its business and its ability to pay FinCanna royalties or other amounts when due. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the CSE listing statement available at www.SEDAR.com and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
SOURCE: FinCanna Capital Corp.