VANCOUVER, BC / ACCESSWIRE / August 4, 2021 / FinCanna Capital Corp. ("FinCanna") (CSE:CALI) (OTCQB:FNNZF) a royalty company for the U.S. licensed cannabis industry, is pleased to announce that its portfolio company, QVI Inc., a cannabis-infused product manufacturer located in Sonoma County, California, doing business as "The Galley", has signed a strategic agreement with "Sense Distribution" which will significantly expand The Galley's retail distribution network across California and provide additional distribution revenues for QVI.
Founded in 2019, Sense Distribution is a privately-owned cannabis distributor headquartered in Santa Rosa CA. Currently servicing 90 dispensaries throughout the state, Sense offers full distribution services to a unique lineup of brands as well as its own line of commercial cannabis infused ingredients for edible creation. "Shoogies", Sense's flagship in-house brand and a QVI co-manufacturing client specializes in bringing traditional sweeteners to the cannabis world, from THC infused Agave, to delicious unrefined sugar, to diabetes friendly infused Stevia.
Latham Woodward, CEO of Sense said, "we are proud to partner with, and distribute so many of The Galley's wonderfully manufactured products. Annie Holman, The Galley's dynamic CEO's, approach to the cannabis market, is fully in keeping with our vision, and ethos: to create and deliver the best artisanal products, made by people who care about people, and love the plant. Sense Distribution has positioned itself to be the distributor that retailers welcome with open arms as the company who brings the best edibles, drinks, lotions, tinctures, bulk flowers, and of course sweeteners, to our customer base."
Annie Holman, Co-Founder and CEO of QVI said, "Sense is a perfect complement to our in-house distribution arm, which immediately expands our reach into new retail markets and increases revenues for QVI. This strategic relationship also provides significant additional benefits to our co-manufacturing clients by providing access to new retail markets across the state. Latham and his team were also instrumental in our client brands being featured at the recent WEEDCon show in Los Angeles where we won several "best of" awards. We see a lot of opportunities to expand each other's businesses going forward including shared revenues from distribution, shared promotion, client development and greater representation at the dispensary level ultimately generating more income for both of our businesses."
"Working with Sense Distribution is another excellent example of Annie finding innovative ways to build revenues while adding value to QVI's brand clients," said Andriyko Herchak, CEO of FinCanna Capital. "It further enhances The Galley's ‘one stop shop' value proposition to cannabis brands looking to scale their business and will generate substantial value to both companies as well as to the brands they represent."
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. For more information about "The Galley" please visit thegalleysr.com
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.
QVI, which stands for Quality, Value and Integrity, is located in Sonoma County, California. Their purpose-built facility known as The Galley is differentiated from other contract manufactures by its automated capabilities to produce virtually all high-value cannabis products at large volumes under one roof. The facility is built to FDA and CDPH standards and is focused on high demand areas of production; Edibles, Topicals, Tinctures, Chocolates, Hard Candies, Gummies, Beverages, Vapes, Pre-Rolls and Flower Packaging.
QVI's immediate goal is to become the premier contract manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
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 statements, other than statements of historical fact, included herein including, without limitation, statements about the market for, and effectiveness of, QVI products or services, the ability of QVI to commence and expand operations and generate sales, revenues profits and positive cashflows, the results of operations of QVI and the timing thereof, QVI's client lists, FinCanna's ability to fund and source future projects, and FinCanna's ability to earn and realize revenues from its investee companies. 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.