FinCanna Provides an Update on CTI's Medical Cannabis Extraction Facility in Coachella, California and Receives … – GlobeNewswire (press release)

VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) — FinCanna Capital Corp. (“FinCanna”) (CSE:CALI) (OTCQB:FNNZF) announces that it has received its listing on the OTCQB under the symbol “FNNZF” and provides the following update on the interim medical cannabis extraction facility (“Extraction Facility”) of Cultivation Technologies Inc (“CTI”), FinCanna’s first investment in California.  As announced on January 15, 2018, CTI took over direct operations of its Extraction Facility operating at its site in Coachella, California and CTI has the rights to 100% of the production capacity.
CTI is quickly advancing towards commercialization and ramping revenue at the Extraction Facility from which FinCanna is entitled to receive 50% of the profits.This Extraction Facility can currently process an estimated 6,000 pounds of biomass per month translating to approximately 3.7 million grams of raw oil per year. CTI has the ability to add an additional extraction machine and fractional distillation and winterization equipment.  This would result in additional capacity to process 3,000 pounds of biomass per month and the ability to service third-party vaporizer, winterization and distillation customers at a scale of approximately 100,000 grams of finished product weekly.CTI’s Coachella Premium Brand CTI’s own brand, Coachella Premium, recently introduced a line of medical concentrates which are now available for sale to all California licensed dispensaries. CTI is currently expanding its product line to include vaporizer cartridges, which will become available in the coming weeks. Initial market feedback gathered during the product development phase indicates that Coachella Premium’s vaporizer cartridges offer a unique proposition within the vaporizer market, one of the fastest growing verticals in the cannabis market.Manufacturing and Distribution ServicesSince taking operational control at its Extraction Facility, and after obtaining state temporary licenses, CTI has acquired key accounts for contracted manufacturing and distribution. Private label services have commenced at the site, providing brands which otherwise had no

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