QVI’s facility is rated for ~ $ 45 million annual operating capacity
FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF), a licensed company for the US-licensed cannabis industry, is pleased to announce the growing demand for and onboarding of leading state cannabis brands for its affiliate QVI, Inc. operating as “The Galley “, A cannabis-infused product manufacturer based in Sonoma County, California
Andriyko Herchak, CEO of FinCanna Capital, said: “We are very pleased with the growing number of great brands from QVI and the continuous increase in monthly reorders from these customers. This accelerating growth clearly demonstrates the capabilities of QVI’s stellar team, led by CEO Annie Holman, and the industry’s growing reputation for excellence. We are experiencing a breakthrough year for QVI and we look forward to sharing its success with an increasing monthly source of income for our shareholders. “
QVI’s state-of-the-art co-manufacturing facility in Santa Rosa, CA, was built to FDA and CDPH standards and has been fully operational since July 2020. Orders from existing customers building an increasing base of recurring monthly revenue. In addition, the company is benefiting from accelerated demand for its services from a growing number of over 35 brands in and outside of the state, including some of the hottest consumer names like Laurie + MaryJane, with Laurie calling it “the Martha Stewart of Marijuana Edibles” of the New York Magazines, additional description below, as well as House of Saka and Green Bee Botanicals, which provided the following testimonials.
Laurie + MaryJane is an award-winning, family-owned, women-run edible company founded in 2014 and based in Portland, Oregon. Laurie is a trained cook, medical cannabis patient and lawyer. In 2014 Laurie founded the company with her daughter-in-law Mary, an all-rounder. Their sacred mission: “To make the most delicious, reliable, and effective cannabis foods.”
“Moving the production of our infused wines to the galley was one of the best decisions we have made so far,” said Tracey Mason, CEO of House of Saka. “Their professionalism, attention to detail and their unwavering commitment to the highest quality standards are simply unsurpassed. We look forward to growing with you in the years to come. “
Bridget May, CEO of Green Bee Botanicals, said, “It is a pleasure to work with Annie Holman and The Galley. Your production team, who recently made a batch of our award-winning Brightening Eye Cream, are efficient and knowledgeable. They asked the right questions and even pointed out alternative methods that we hadn’t considered in the production process. I have full confidence in The Galley and their ability to produce our products to perfection. “
QVI management attributes the acceleration in customer demand to its automated manufacturing expertise, superior production quality, and one-stop ability to manufacture virtually all high-quality cannabis products such as groceries, topicals, tinctures, chocolate, candies, gums and beverages under one roof. In addition, the excellent research and development team can support brands in introducing not only new individual products, but also completely new product lines. The galley’s operational design also enables the company to scale production quickly as demand increases towards its annual operating capacity of approximately $ 45 million. For more information on The Galley, please visit www.thegalleysr.com
Annie Holman, CEO of QVI Inc. stated, “We are extremely pleased with our growing number of customer brands, which is testament to the ability of our multi-talented manufacturing team to consistently deliver the best quality on the market. The word comes out. The galley is increasingly recognized as “the” manufacturing solution for brands in and outside of the state that recognize that only the “best” will do in a competitive marketplace. “
QVI’s immediate goal is to become the leading contract cannabis manufacturer in California, the largest domestic market in North America, and, if successful, license products nationally and globally.
The U.S. legal cannabis market is projected to reach more than $ 41 billion in annual sales by 2025, with California, the largest single market in North America, representing an estimated 20% or $ 8.2 billion market share. (New limit data)
About FinCanna Capital Corp.
FinCanna is a licensing company providing growth capital to rapidly emerging private companies operating in the US licensed cannabis industry. The company earns its revenue through royalties, which are paid by its investees and are calculated based on a percentage of their total revenue.
FinCanna’s scalable license fee model offers its portfolio companies an attractive alternative or addition to debt or equity financing. FinCanna is focused on delivering effective returns to its shareholders through a strategically diversified investment portfolio.
Further information can be found at www.fincannacapital.com and in FinCanna’s profile at www.sedar.com
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
The information contained in this press release may contain forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future rather than past events. In this context, forward-looking statements often relate to expected future business and financial performance and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” to take an action or event ” may “,“ could, ”“ could, ”“ should, ”or“ will ”run or occur, or other similar expressions. All forward-looking statements, except for the historical facts contained herein, include, but are not limited to, statements about the effectiveness of QVI’s products or services, QVI’s ability to continue and expand, and the timing of its success of sales and other marketing plans, size, expected capacity, operational success and future revenue and timing, QVI’s ability to raise funding to develop its business, and the ability to pay royalties or other amounts from FinCanna when due . Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or success or other future events to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements Statement. These factors include, but are not limited to, the risks set out in the CSE listing statement at www.SEDAR.com and in other reports and filings with the relevant Canadian securities regulators. Forward-looking statements are based on the beliefs, estimates and opinions of management at the time the statements are made, and the respective companies assume no obligation to update any forward-looking statements if such beliefs, estimates, and opinions or other circumstances change other than in accordance with applicable securities laws. Investors are cautioned not to place undue reliance on forward-looking statements.
SOURCE: FinCanna Capital Corp.
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