Staff, Author at Green Market Report - Page 2 of 32

StaffStaffFebruary 14, 2019
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2min1380

TILT Holdings Inc.  (CSE: TILT) (OTC: SVVTF) announced preliminary and unaudited pro forma January 2019 gross revenue of $18.3 million. The company’s pro forma January revenue was driven by continued growth of all companies within TILT, including recent acquisitions.

In just January 2019 TILT said its unaudited gross revenue was $13.8 million versus the $7.6 million for the entire year of 2018. Gross margins for January were 16% given the early stages of business integrations, and full-year 2018 gross margins were 21%.

TILT‘s annual audited financials will be available prior to April 30, 2019, and consolidated financials for the first quarter, including the acquisitions of Jupiter, Standard Farms and Blackbird, will be available prior to May 31, 2019.

The company said that increases in Jupiter shipments reflected strong consumer demand of the company’s vaporizers. Blackbird’s continued expansion in California and success in the Nevada wholesale market boosted revenue. In Pennsylvania, Standard Farms is among the leading cultivation and production companies, selling their product wholesale throughout the state.

Baker saw an increase in the number of dispensaries using their software in January. Finally, TILT’s MA operations contributed as well, though January numbers do not reflect the opening of any recreational stores, which are expected to come online throughout 2019.

“Following the Business Combination and TILT’s public listing on the Canadian Securities Exchange in early December 2018, we have been able to acquire and integrate numerous market leading cannabis companies,” said Alex Coleman, Chairman and CEO of TILT.


StaffStaffFebruary 13, 2019
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3min1562

It’s time for your Daily Hit of cannabis financial news for February 13, 2019.

On The Site

Emerald Health

Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms Corp. has entered into a credit agreement with Bank of Montreal as agent and lead lender and Farm Credit Canada as a lender for C$20 million secured non-revolving term loan. The credit is secured by the greenhouse facility.

Wurk

Cannabis HR firm Wurk announced the raise of $11 million in a funding round led by returning investors Poseidon Asset Management and Arcadian Fund. Existing investors Altitude, Salveo Capital, Phyto Partners, and The Arcview Group also participated in the round.

Wurk plans to use the money to enhance the client experience while expanding its cannabis HCM platform, including the launch of managed services

In Other News

Choom (OTCQB: CHOOF) entered into a letter of intent agreement with one of the 25 Cannabis Retail lottery winners to open a location in Ontario. Choom, an emerging adult use cannabis retailer, is building out one of the largest retail cannabis networks in Canada. The LOI is with a winner of one of the 25 retail opportunities to apply for a license to operate a cannabis retail store granted as a result of the Alcohol and Gaming Commission of Ontario’s Expression of Interest Application Lottery conducted on January 11, 2019.

Sunniva Inc. (OTCQB:SNNVF) completed the previously announced non-brokered offering of convertible debentures.  The originally announced $10 million Financing was over-subscribed with gross proceeds received of CAD $15,042,055. This financing provides additional working capital to enable Sunniva to meet the higher than anticipated near term sales demand for Sunniva branded cannabis products in California and for general corporate purposes. The financing included two insiders of the company subscribing, directly or indirectly, for a total of CAD $2.3 million which demonstrates management and insiders’ commitment to the Company.

Weekend Unlimited Inc. (WKULF) entered into a definitive agreement with R&D Pharma, which is anticipated to close next week. R&D Pharma is a Canadian company building a vertically integrated medical cannabis business in Jamaica.  RDP has secured a Tier-3 Cultivator’s License, which allows for full cultivation of cannabis plants on a land of over 5 acres, which in this case applies to the 98-acre RDP property.


StaffStaffFebruary 12, 2019
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4min1160

It’s time for your daily hit of cannabis financial news for February 12, 2019.

On The Site

TerrAscend

Yesterday, the San Francisco-based cannabis dispensary chain, The Apothecarium, announced that they had been acquired by TerrAscend Corp. (CSE: TER) for $118.4 million in cash and stock. Including in the purchase agreement are three retail dispensaries in San Francisco; one vertically integrated cannabis operation which includes cultivation, edibles manufacturing, and a retail dispensary location; and the edibles brand Valhalla Confections.

With more than 200 employees and $45 million in combined revenue, Apothecarium made for an attractive buy to TerrAscend, which recently has been making moves to enter the U.S. market.

Supreme Cannabis

The Supreme Cannabis Company, Inc.  (OTCQX: SPRWF) reported a 359% increase in revenue to $7.72 million for the second quarter ending December 31, 2018. This was a 50% sequential increase over the first quarter revenue of $5.14 million.

The company trimmed its losses by delivering a net loss for the quarter of $1.55 million versus a loss of $2.03 million for the same time period last year. The losses dropped sequentially as well from the first quarter net loss of $5.39 million.

Cannaregs

Cannabis tech company Cannaregs, Inc. has completed a $2 million capital raise that the company will use to expand services and features across the country under the company’s umbrella of Regs Technology. Cannaregs is the leading web-based data technology platform providing up-to-date access to comprehensive cannabis-related legal data including rules and regulations from municipal, county, state and federal sources.

In Other News

MassRoots, Inc. (MSRT) entered into a definitive agreement to acquire COWA Science Corporation, a supply-chain as a service company, for common-stock consideration valued at approximately $5.78 million, and dependent on COWA Science achieving annual revenue milestones of $2.5 million and $7.5 million. The closing of the Agreement is subject to the satisfaction of customary closing conditions, including the completion of audited financial statements of COWA Science.

Veritas Pharma Inc. (VRTHF) entered into an agreement with TG Initiatives Ltd., to purchase a commercial processing facility for hemp and cannabis products, that asset is capable of making a variety of hemp and cannabis products including edibles for human and animal use. Additionally, this asset provides the capability to make a variety of natural topical creams for pain relief and other ailments including any product that comes out of the company’s acute pain reduction human trials recently announced in Puerto Rico.

The Colorado Department of Revenue (DOR) released its monthly reports for marijuana sales and tax data today, which include the final sales and tax data figures for 2018. The reports show:
Marijuana Tax, License and Fee Revenue (for both medical and adult-use)

In calendar year 2018, marijuana tax, license and fee revenue topped $266.5 million.

This compares to over $247 million in the calendar year 2017.

To date, marijuana tax, license and fee revenue totals over $927 million since adult-use marijuana sales began on January 1, 2014. This figure includes revenue for January 2019.

Marijuana Sales (for both medical and adult-use)

In the calendar year 2018, marijuana sales once again topped $1.5 billion (specifically over $1.55 billion).

This compares to just over $1.5 billion in the calendar year 2017.

To date, marijuana sales have surpassed $6 billion since January 1, 2014.

 


StaffStaffFebruary 12, 2019
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5min730

The First Cannabis Focused Tech Company to Move Beyond The Industry

Denver, CO – February 12, 2019 – Cannaregs, Inc. the leading web-based data technology platform providing up-to-date access to comprehensive cannabis-related legal data including rules and regulations from municipal, county, state and federal sources, has just announced the completion of a $2 million capital raise  to expand services and features nationally as well as beyond cannabis under the umbrella of Regs Technology (RegsTech).

RegsTechplans to deploy the capital strategically expanding its CannaRegs platform to enable the Company to scale nationally and expand its data platform beyond cannabis into other highly regulated hyper-local industries like shared transportation, electric and autonomous vehicles and emerging mobile telecom technologies.

“We’ve built a terrific set of advanced data services for our CannaRegs subscribers and are proud to be working with the best companies in the cannabis industry.” explained Founder and CEO Amanda Ostrowitz. “With this infusion of capital we’re confident that we will take RegsTech to the next level.”

Lead investors include Phyto Partnersand Panther Opportunity Fundalong with other high profile tech and cannabis VC investment. “By simplifying local legal search, Cannaregs helps all industry participants understand and comply with the laws saving time money and potential regulatory scrutiny.” said Larry Schnurmacher managing partner of Phyto.  “As the cannabis economy continues to expand to more states, the need for this type of legal resource grows and we think cannaregs will capture that market.” said Larry Schnurmacher, Managing Partner of Phyto Partners.

“We are excited to be investing in RegsTech after following Amanda Ostrowitz over the last two years and seeing her grow her team and company to be the leading provider of local compliance and regulatory tracking software, stated Jordan Tritt, Principal at Panther Opportunity Fund. “Amanda and her team are very well respected among cannabis operators, consultants and government entities, and this capital raise will allow RegsTech to expand its reach within the cannabis industry as well as other highly regulated and localized industries.”

CannaRegs is regarded as the most trusted resource for cannabis regulatory and policy  information. With over 500 users comprised of cannabis companies (e.g. Cresco, Kiva Confections, Caliva, Canndescent), law firms (Akerman, Thompson Coburn, Buchalter), governments (San Francisco, Sacramento, Mendocino County), consultants (3C Consulting, Green Wise Consulting, Muniservices), Real Estate Professionals (Kidder Matthews) and various other ancillary providers (Eaze, Hawthorne Gardening), its reach is far broader than the typical law firm audience of most legal tech platforms.

This capital raise ensures that CannaRegs is now able to offer even more information, new features, and enhanced user experience, while expanding nationally and with an eventual launch of additional Regs Techportals.

The next portal on the horizon for RegsTech is TransitRegs which will cover autonomous vehicles, electric vehicles and charge stations, app-based ride share, scooters, dockles bicycles and robotic deliveries.

About Regs Technology:

Regs Technology is a legal technology platform for highly regulated industries that are hyper-localized in nature. Its first product offering, CannaRegs, is a subscription platform that enables cannabis operators, law firms, investors, real estate professionals, consultants, and Governments to track cannabis regulation and policy, in real-time, providing users with critical information they need to make strategic business decisions, identify new opportunities and maintain compliance in an ever-evolving regulatory landscape. CannaRegs currently provides comprehensive cannabis laws for the states of California, Colorado, Florida, New Jersey, Nevada, Massachusetts, Michigan, Illinois, Ohio, New York, Missouri, and Pennsylvania to be followed by all other states that permit medical and/or recreational marijuana. For more information visit www.cannaregs.com.

 


StaffStaffFebruary 12, 2019
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3min1380

The vape pen category has shown enormous growth in the cannabis industry, but not all vapes are created equal. Consumers are also beginning to show a preference in their purchasing habits when it comes to vapes as well. Kurvana has kept an eye on these trends and has managed to make a product to satisfy multiple consumers.

Cowen & Co.’s senior analyst Vivien Azer wrote that vape pens have grown their dollar share from 5.8% of the market in January 2016 to 14.7% in May 2018. Vapes have become the number two form factor in the cannabis industry trailing flower which commands a robust 52% of the market. However, flower sales have been losing ground to the vape pen sales.

Azer also determined that pricing varies for vape pens according to the market. For example, a vape pen in Washington state averages $26.31, while in Nevada that number jumps to $49.14. Consumers are also demanding to know more about their vape pens as the market gets flooded with products from dubious sources. Some companies buy their hardware from China from the same manufacturers that make e-cigarettes, but tobacco oil is thinner than cannabis oil, so additives are introduced in order to use the hardware.

Kurvana sources only the highest quality raw flower from organically grown cannabis, provided by trusted farmers well-known to the industry. Kurvana uses a proprietary 50-step process to purify the essential cannabinoids, tasty terpenes, and natural ingredients that contribute to the unique experience of vaping with full spectrum Kurvana oil. They never introduce extra terpenes or additives of any kind, because they distract from the plant’s original essence.

Consumers are also leaning more towards mood based vape pens versus strain based. Kurvana has captured both sides of this market. The ASCND pens offer 10 different strains that are clearly marked as to whether it is indica, sativa or a hybrid. Then the company’s website breaks it down even further into an easy to follow chart so that consumers can locate the symptom they want to address and find the pen to best address it.

The products are only available in California at this time, but with this is a high potency, attractive pen with a great taste that consumers will want to find.


StaffStaffFebruary 12, 2019
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4min1030

The Supreme Cannabis Company, Inc.  (OTCQX: SPRWF) reported a 359% increase in revenue to $7.72 million for the second quarter ending December 31, 2018. This was a 50% sequential increase over the first quarter revenue of $5.14 million.

The company trimmed its losses by delivering a net loss for the quarter of $1.55 million versus a loss of $2.03 million for the same time period last year. The losses dropped sequentially as well from the first quarter net loss of $5.39 million.

“We’re pleased with our second quarter results, which show meaningful revenue growth quarter-over-quarter and continues to reflect our strong operational execution,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “Since Supreme received its license over two years ago, we have been one of the fastest scaling Licensed Producer’s in Canada, demonstrated by one of the strongest first years of revenue in the sector.”

During the quarter, the company was able to raise $100 million of gross proceeds through a bought deal offering of 6% unsecured convertible debentures due 2021 and led by GMP Securities L.P. and BMO Capital Markets. The company also uplisted from the TSX Venture Exchange to the Toronto Stock Exchange.

“During the second quarter, we made our first shipments of 7ACRES-branded product to adult-use markets in six provinces. The consumer feedback has been overwhelmingly positive. Cannabis enthusiasts are vocal about their passion for high-quality cannabis. We believe 7ACRES has quickly established itself as Canada’s only premier cannabis producer at scale. With construction on the flowering room at 7ACRES scheduled to be completed by the end of March, we’re looking forward to increasing our production capacity to help meet consumer demand and drive further revenue growth throughout the year.”

7Acres

The company’s flagship brand 7ACRES, was named Brand of the Year at the 2018 Canadian Cannabis Awards.  7ACRES also entered into a supply agreement with the New Brunswick Liquor Corporation and has been registered as a supplier in the province of Saskatchewan, expanding distribution into eight provinces.

Subsequent To The Quarter End

Supreme contracted Medipharm Labs Co. to facilitate the launch of the Company’s cannabis oil products line. Supreme Cannabis and Khalifa Kush Enterprises announced an international partnership agreement to develop and launch premium cannabis products for the Canadian and international markets excluding the United States.

Stock Performance

Supreme stock was lately trading at C$2.26, up from the company’s 52-week low of C41.15, but below the year’s high of C$2.43.


StaffStaffFebruary 11, 2019
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6min1330

It’s time for your Daily Hit of cannabis financial news for February 11, 2019.

On The Site

Aurora Cannabis Inc. (ACB) reported that its gross revenue jumped 430% to $62 million over last year’s $11.7 million for the same time period. The net revenue rose 363% to $54.2 million over last year’s $11.7 million.

Losses jumped a whopping 3,179% to $237 million versus last year’s gain of $7.7 million for the same time period. The company said in a statement that “Non-cash expenses including the December 31, 2018 mark-to-market adjustments of approximately $190 million primarily on the company’s derivative investments contributed significantly to a net loss of $240 million.”

Green Growth Brands Inc. or GGB (OTCQB: GGBXF)  entered into an agreement to gain access to 108 prime shop locations in U.S. malls owned and operated by the Simon Property Group, Inc. (NYSE: SPG). GGB will expand its chain of CBD-infused personal care product shops under the Seventh Sense Botanical Therapy.

Simon is the biggest mall operator in the country with high-profile properties including Roosevelt Field in metro New York; The Galleria in Houston, TX; and Woodbury Common Premium Outlets in Central Valley, NY. While there are certainly numerous CBD shops, this is the first company to look at establishing a huge chain right off the bat.

Barney’s New York Inc. is opening a luxury cannabis store on the fifth floor of its Beverly Hills store next month. Bloomberg reported that the luxury store known for its cutting edge fashion will open a department called “The High End.”

Since Barney’s isn’t a licensed dispensary, it will be limited to selling cannabis accessories like pipes, rolling papers, and stash boxes. The company’s partner will be the premium cannabis brands called Beboe and as part of the arrangement, Beboe will educate consumers on its products that they can order online for delivery in the California area.

On Wednesday this week, Congress will hold a hearing on banking services for the cannabis industry. This is the first hearing to be held by the new Congress that will begin tackling the issue of banking for cannabis companies.

Attorney Brady Cobb met with House lawmakers last week and is actively engaged with the legislative process. “With the opposition out of the way, we can finally make some progress,” said Cobb. He was referring to the ouster of Pete Sessions, who continually refused to bring cannabis legislation to the floor for a vote. Cobb said that the committee’s existing members were supportive and expect new members to be positive as well. The hearing will be available on CSPAN.

The National Cannabis Roundtable (NCR) was announced on Friday by the group’s new leader former speaker of the House John Boehner. The group will be lobbying to remove federal restrictions that stand in the way of medical research on cannabis and encourage the development solutions to help patients.

Other agenda items for the group include working to correct the tax code and improve the banking situation for cannabis companies. NCR will also be working to help states enact their own cannabis legislation.

In Other News

Lineage Grow Company Ltd. (CSE:BUDD) and FLRish, Inc. d/b/a Harborside, a private company incorporated under the laws of California have entered into a definitive merger agreement, which will result in the reverse takeover of Lineage by Harborside. The resulting issuer will seek a listing of the Subordinate Voting Shares on the CSE. Lineage intends to effect a change of its name to “Harborside Inc.” and has reserved the new stock symbol “HBOR”.

Geyser Brands Inc. (TSX-V: GYSR) entered into a non-binding letter of intent with Solace Management Group Inc, a company incorporated under the laws of the Province of British Columbia, setting out certain terms and conditions as to the acquisition of all of the issued and outstanding shares of Solace by way of a share purchase, share exchange or similar transaction, following a review of all relevant legal, regulatory and tax matters.

Southern Tier Hemp, a vertically-integrated agriculture technology company that will offer a suite of branded wellness products, just announced its new headquarters will be the largest hemp processing facility in New York State. The company recently disclosed that it reached an agreement to purchase the former Gannett printing plant in Johnson City, New York. The 100,000 square foot facility will become headquarters for Southern Tier Hemp as the company develops, manufactures and sells hemp cannabidiol (CBD) wellness products worldwide.


StaffStaffFebruary 11, 2019
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3min1700

Barney’s New York Inc. is opening a luxury cannabis store on the fifth floor of its Beverly Hills store next month. Bloomberg reported that the luxury store known for its cutting edge fashion will open a department called “The High End.”

Since Barney’s isn’t a licensed dispensary, it will be limited to selling cannabis accessories like pipes, rolling papers, and stash boxes. The company’s partner will be the premium cannabis brands called Beboe and as part of the arrangement, Beboe will educate consumers on its products that they can order online for delivery in the California area.

“This will appeal to our core customer,” said Matthew Mazzucca, creative director of Barneys. “Our brand really looks at creating dialogue and focusing on cultural shifts.” Beboe is a hit among the fashion crowd in Los Angeles. It was founded by Scott Campbell, a celebrity tattoo artist and Clement Kwan who has a long history in executive roles across the fashion industry. He has been integral to the growth and success of luxury brands such as Theory, Diesel and Dolce & Gabbana. In 2012, Clement took on the role of President, heading the U.S. business of YOOX Group.

Beboe just announced last week that it was being acquired by Green Thumb Industries Inc., (GTBIF) which plans on expanding the brand’s presence into many more markets. Currently, the products are only for sale in California and Colorado.

“For us, we’re getting to communicate with curious customers who are basically our target demographic,” said Scott Campbell, one of Beboe’s co-founders.

Premium cannabis isn’t exactly as expensive as $16,000 striped St. Laurent mink striped top, but it is targeting the same crowd. The packaging has always been known to be fancier than most cannabis packaging.

Many of the store’s customers have “made cannabis part of their lifestyle,” according to Chief Executive Officer Daniella Vitale.


StaffStaffFebruary 8, 2019
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7min2370

A number of cannabis companies have gone public over the last several years, with the majority listed on a small exchange in Canada called the Canadian Securities Exchange (“CSE”). Many have done so via reverse takeover — a merger transaction in which a private company acquires a public shell company, merges into it, and then takes it over and changes its name — rather than resorting to an initial public offering, a more common practice in which a private company sells shares to the public and is then listed on a public exchange.

There are a number of reasons why companies choose to go public, including:

Fundraising: It enables companies to raise large(r) amounts of capital from external investors.

Publicity: Going public is a watershed moment, raising a company’s profile among investors, customers, competitors, and the general public.

Credibility: Becoming and being a public company is somewhat of a status symbol. It shows that you’ve “made it” and can handle the rigorous disclosures and transparency required by investors and regulators.

Liquidity: It allows longtime employees and investors to “take some chips off the table” by monetizing some or all of their holdings.

Currency: Public stock can more easily be utilized for acquisitions.

These last two aspects, liquidity, and currency were analyzed for the 30 largest CSE-listed companies with U.S. operations (and compared against a group of 30 U.S.-listed micro-cap biotech, brewing, vitamins/supplements, and natural food companies) to assess the benefits of these listings.

As you can see in the chart below, there is a meaningful lack of liquidity for the CSE-listed companies. The comparable stocks have nearly three times the average daily trading volume of the CSE-listed cannabis companies. Also, there is a long “tail” with the CSE-listed stocks. The overwhelming majority have extremely thin volume — some had days where literally zero shares were traded — with just a handful garnering meaningful volume.

When a company is doing a follow-on equity offering, the sizing is important. If a company sells too much stock relative to daily trading volume, it risks flooding the market and driving down the stock price. A sanity check also occurs, looking at how many days of trading it would take for all the newly sold shares to trade. Five to 10 percent is the norm, though higher levels are also possible. Given the thin trading, the ability to do a block trade (selling a large lot of shares to a third party) is also limited. In an M&A situation, this matters a great deal – the seller becomes largely “stuck” in the company and can’t easily monetize their holdings. In fact, when one looks at several of the recent all-stock acquisitions, it appears as if it will take years for the sellers to convert their shares into cash.

Any company contemplating listing on the CSE or another foreign exchange should consider pursuing status as a “foreign private issuer” and how that may impact liquidity. There are some substantial potential benefits to being a foreign private issuer, including faster market access and less onerous reporting requirements. But maintaining foreign private issuer status can create additional liquidity concerns for some shareholders.

A foreign private issuer must either have the majority of its voting stock held by non-U.S. residents or operate outside the U.S. The only option for U.S.-based cannabis companies is to ensure the majority of voting stock is held by non-U.S. residents. Determination of what the majority of voting stock means can be based on either voting power or a quantitative number of shares.

Companies often create a class of super-voting, super-conversion compressed preferred stock that is exchangeable into publicly traded common shares. The preferred stock class — sometimes called Class A stock, but naming conventions vary from company to company — can be set up so that, on a converted basis, the holders of the preferred stock have the same economic and voting rights they would have had if they held common stock instead. But a company must usually impose conversion restrictions to ensure foreign private issuer status is maintained. If too many people convert at the wrong time a company can lose its foreign private issuer status.

Anyone receiving compressed shares should carefully review the terms of such stock so they can be aware of when and how they can convert into freely trading common stock. It may not always be possible to freely convert such preferred stock and the preferred stock may not be as easy to sell as the common stock, creating another potential liquidity issue that should be managed up front.

David Lechner is a Chief Financial Officer with $25 billion of M&A and capital markets work. He consults with clients on due diligence, acquisitions, integrations, financial reporting, and operational improvements. Originally from Toronto, he now resides in Denver with his family.

Charles Alovisetti is a partner and chair of the corporate practice group at Vicente Sederberg LLC based in Denver. He assists licensed and ancillary cannabis businesses with corporate legal matters, and he has experience working with clients on a broad range of transactions.


StaffStaffFebruary 6, 2019
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3min1250

Infused Products Manufacturer Leverages Contacts & Experience
in fast-growing Cannabis Industry

Santa Rosa, Ca. – Feb. 6, 2019 /AxisWire/ The cannabis industry is growing at an accelerated rate and the opportunities are vast for financing groups to partner with top talent who have history, strong connectivity, and credibility in the space. The Galley and QVI Inc. have the leadership and skillset to make remarkable strides in manufacturing. The company is pleased to announce secured financing with FinCanna Capital Corp.(CSE:CALI) (OTCQB:FNNZF) a royalty company for the U.S. licensed cannabis industry headquartered in Vancouver, Canada.

QVI (which stands for the company’s core values of Quality Value Integrity) is strategically located in Sonoma, California, between the famed Emerald Triangle and the greater San Francisco Bay Area. QVI is currently refitting an 8,300 square foot facility in Santa Rosa, CA with dedicated space for a large-scale commercial kitchen to produce baked goods, chocolate products, and a hard candy and gummy line. The facility will also have a designated area for contract manufacturing of additional products including topicals and tinctures, vapes, pre-rolls, beverages, flower assembly, and packaging services.

QVI’s immediate goal is to become the premier contract manufacturer in California, the largest single market in North America. Their customer base will include legacy companies already on dispensary shelves, new entrepreneurs with creative IP, and out-of-state brands looking to enter the California market. Additionally, The Galley will produce their own branded product line called, “Big Fish Edibles”.

The principals’ of QVI have decades of award-winning edibles manufacturing and food production experience in California. Co-Founder, President, and CEO Gina Pippin has 23 years of business and financial management with decades of experience in efficient production management and food safety. Co-Founder Annie Holman’s career includes 25 years in marketing and media. She is the former owner of California-based Derby Bakery Cannabis Edibles that produced high-end, award-winning products, and won several “Emerald Cup – Best Edibles” honors and both first and second place prizes from the “Edibles List – Best of Awards.”

QVI is currently executing a three-phase development program to culminate with full commercial operation expected in April 2019.

CEO Gina Pippin states, “We are excited to be in the portfolio family of FinCanna Capital and feel they are an amazing fit for helping us look to the future of the development of products from Sonoma and beyond”

Media Relations:
Gaynell Rogers.
415.298.1114
gaynellrogers@gmail.com



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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