Fincanna Capital Stock Price, News & Analysis

FinCanna Capital Corp has announced a share consolidation of its common shares at a ratio of ten to one, reducing the number of outstanding shares from approximately 121 million to 12.1 million post-consolidation. The adjustment will also apply to stock options, warrants, and convertible debentures. This move is pending acceptance from the Canadian Securities Exchange, with further details to be shared upon approval. The consolidation aims to improve the company's capital structure and support its investment strategy in the U.S. licensed cannabis sector.

FinCanna Capital Corp plans to raise up to $2,000,000 through a private placement to support its new 'manufacturer to retail' revenue model. This strategy, driven by its portfolio company QVI Inc., will enhance production capabilities and streamline costs. QVI has entered a joint venture with Cherry Kola Farms to leverage their award-winning products, aiming for superior profit margins and increased retail sales in California's lucrative cannabis market. The launch is scheduled within 90 days, pending regulatory approvals.

FinCanna Capital Corp. (CSE:CALI)(OTCQB:FNNZF) announced that its ezGreen POS software has been approved by the City of Adelanto, CA, for sanctioned cannabis events. The software ensures compliant operations by providing real-time data on inventory and sales, crucial for tax reporting. The city will host multiple cannabis events, starting with ComedyChella on October 23, 2021. This endorsement aims to generate immediate revenue and demonstrate the software's advantages to dispensary owners, showcasing its compliance reporting and workflow management.

FinCanna Capital Corp. announced an amendment to its convertible debentures, allowing interest payments for up to two consecutive quarters to be made in common shares. This change requires further approval for a third quarter. The debentures, issued in February 2019 and July 2020, mature in early 2023 and bear a 12% annual interest rate. CEO Andriyko Herchak expressed gratitude to debenture holders for their support, viewing the amendment as a vote of confidence in the company's growth potential. The amendment awaits approval from the Canadian Securities Exchange.

FinCanna Capital Corp. announced that its portfolio company QVI Inc. ("The Galley") is experiencing strong customer demand and significant revenue growth, approaching profitability. The Galley has secured new clients, including established California cannabis brands, set to onboard in October, which will boost revenues. QVI's automated manufacturing expertise and diverse product offerings are contributing to increasing monthly recurring revenues. The company aims to become California's premier cannabis co-manufacturer, with plans for national licensing.

FinCanna Capital Corp. (CSE:CALI)(OTCQB:FNNZF) announces that its portfolio company, QVI Inc., will host the Sonoma County Growers Alliance (SCGA) first in-person event on October 5, 2021, featuring California State Senator Mike McGuire. FinCanna is expanding its investment to acquire 100% of QVI. Senator McGuire's attendance underscores the event's significance in promoting cannabis industry collaboration. The SCGA advocates for improved cannabis policies in Sonoma County and the event aims to unite local industry participants.

FinCanna Capital Corp. (CSE:CALI)(OTCQB:FNNZF) announced a growing demand for women-led cannabis brands with its investee QVI, Inc., operating as The Galley, a cannabis-infused product manufacturer in Sonoma County, California. FinCanna signed a binding Letter of Intent to acquire 100% of QVI. The Galley has onboarded several notable women-led brands, contributing to QVI's goal of becoming California's premier contract cannabis manufacturer, targeting the lucrative U.S. cannabis market, projected to exceed US$41 billion by 2025.

FinCanna Capital Corp. (OTCQB:FNNZF) announced that QVI Inc. has entered a binding Letter of Intent to become a wholly owned subsidiary. QVI, based in Sonoma County, California, specializes in cannabis-infused products and is set to launch its Big Fish Edibles brand. Initial products include a lustered chocolate ball called "The Pearl" and eucalyptus-infused bath salts. The company anticipates products will hit dispensary shelves in 30 to 60 days, contributing to a high-margin revenue stream. The California cannabis market is projected to reach $43 billion by 2025, with significant demand for edibles.

FinCanna Capital Corp. (CSE:CALI)(OTCQB:FNNZF) announces the acquisition of 100% ownership of QVI Inc., known as The Galley, a cannabis co-manufacturing facility in California. This transition from a royalty structure to full equity ownership will enable FinCanna to consolidate 100% of QVI's revenues, significantly boosting its financial performance. QVI specializes in cannabis product manufacturing and has established strategic distribution agreements to expand its market reach. The U.S. cannabis market is projected to exceed $41 billion by 2025, with California accounting for $8.2 billion.