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The agency is now approaching profitability as it continues to onboard new clients seeking to introduce cannabis-infused products to the California market
VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / FinCanna Capital Corp. (“FinCanna“) (CSE: CALI) (OTCQB: FNNZF), an investment firm for the United States licensed cannabis industry, is pleased to announce that its holding company QVI Inc. doing business as “The Galley”, Experiencing Strong Customer Demand and Growing Revenue Growth As previously announced, FinCanna has signed a binding letter of intent to increase its investment to 100% in QVI Inc.
The Galley has a solid roster of new customers, including brands with new intellectual property, multi-state operators and established major Californian cannabis brands, all slated for October, which will further increase revenue. In addition, QVI experiences a constant flow of orders from existing customers which establishes a growing base of recurring monthly revenue.
Annie Holman, Founder and CEO of QVI Inc. said, “We are delighted with the growth we are seeing in domestic and foreign brands which we attribute to our incredible team and our ability to formulate and produce just about any type of cannabis infused product that the market demands. We are being increasingly recognized as “the” co-manufacturing solution when only the “best” will do. ”
The Galley, Licensed Type N, Enables Brands With New Intellectual Property, Multi-State Operators, Existing California and Out-Of-State Brands to Bring Cannabis Infused Products to Market much faster and more efficiently than authorizing, licensing, financing and building their own manufacturing facilities. Additionally, there are a growing number of highly recognized foreign brands that want to quickly establish market share in California, but lack a footprint or ability to enter the market without a licensed manufacturing facility.
Andriyko Herchak, CEO of FinCanna Capital, said: “As QVI approaches profitability, we are increasingly confident that our investment in QVI will generate a strong return on investment for shareholders and we expect revenues to increase significantly over time. over the coming months thanks to recurring activities, new customer engagements and the launch of Galley’s branded products. Growing customer demand continues to prove the co-manufacturing model. Allowing brands to outsource their production of infused cannabis is an essential, but very underserved part of the cannabis supply chain in California, and we are well positioned to fill this gap in the market.
QVI management attributes the acceleration in customer demand to its expertise in automated manufacturing, superior production quality, and its ‘one-stop-shop’ ability to produce virtually any high-value cannabis product, including including edibles, topicals, tinctures, chocolate, hard candies, gummy candies and beverages. under a roof. In addition, its exceptional R&D team has the ability to help brands launch not only new individual products, but entirely new product lines as well. The operational design of the office also allows the company to rapidly increase production as demand increases. For more information on “The Galley”, please visit www.thegalleysr.com.
QVI Inc, which stands for Quality, Value and Integrity, doing business as “The Galley”, is an 8,300 square foot state-of-the-art cannabis-infused co-manufacturing facility built to FDA and CDPH located in Santa Rosa, California. . “The Galley” has been fully operational since June 2020 and continues to aggressively expand its portfolio of cannabis brand manufacturing clients.
The company attributes the acceleration in demand from customers of a growing list of in-state and out-of-state brands to its expertise in automated manufacturing, superior production quality and “one-stop-shop” capability. to produce virtually all high-value cannabis products including, edibles, topicals, tinctures, chocolate, hard candy, gummy candies and beverages under one roof. In addition, its exceptional R&D team has the ability to help brands launch not only new individual products, but entirely new product lines as well. The operational kitchen design also allows the company to rapidly increase production as demand increases towards its own. For more information on “The Galley”, please visit thegalleysr.com.
QVI’s immediate goal is to become the premier contract manufacturer in California, the largest single market in North America and, if successful, to license products nationally and globally.
About FinCanna Capital Corp.
FinCanna is an investment firm providing growth capital to emerging private companies operating in the licensed cannabis industry in the United States. FinCanna is focused on delivering high impact returns to its shareholders through a strategically diversified investment portfolio.
For more information, visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com.
FinCanna Capital Corp.
Andriyko Herchak, CEO and Director
Communications with parents
The information contained in this press release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future events and not past. In this context, forward-looking statements often deal with expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect” and “have the expectation”. intention ”, statements that an action or event“ may ”,“ could ”,“ 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 regarding the potential acquisition of 100% of the issued and outstanding shares of QVI; the market and effectiveness of QVI’s products or services, QVI’s ability to start and expand its business and generate sales, revenues, profits and positive cash flow, the ability to operate QVI’s facilities QVI and FinCanna’s ability to earn and earn income from its issuers. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or other future events to differ materially from results, future performance or achievements expressed or implied. by such forward-looking statements. Such factors include, among others, the risks that the acquisition of 100% of QVI will not be completed as currently planned, or not at all; and the risks identified in the CSE listing statement available on www.SEDAR.com and other reports and filings with applicable Canadian securities regulators. Forward-looking statements are based on the beliefs, estimates and opinions of management at the date the statements are made, and the respective companies do not undertake to update any forward-looking statements if such beliefs, estimates and opinions or other circumstances were to change, unless such required by applicable securities laws. Investors are cautioned against assigning undue certainty to forward-looking statements.
THE SOURCE: FinCanna Capital Corp.
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