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New Equipment Allows CTI to Increase Current Production Capacity Up To 500%
VANCOUVER, BC / ACCESSWIRE / February 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 it has sold a portion of its unutilized extraction equipment to investee company, Cultivation Technologies Inc. ("CTI"), located in Palm Desert, CA, for an increased royalty stream.
CTI management estimates the new manufacturing equipment will increase their current volume capacity by as much as 500% of which FinCanna will receive an increased royalty stream on CTI's top line revenue.
Andriyko Herchak, CEO of FinCanna Capital stated, "CTI is a proven award-winning manufacturer of high quality BHO concentrates with a growing list of recognized clients in California. This new equipment will allow CTI to increase revenue with their long list of existing customers while securing additional new business. As a result, we anticipate FinCanna will see a large increase in high-margin royalty revenue which is expected to have a significant impact on FinCanna's bottom line. We are very pleased to complete this transaction for the benefit of both CTI and FinCanna and look forward to realizing the gains of this longstanding investment."