CULTIVATION TECHNOLOGIES, SECURES DISTRIBUTION ACROSS CALIFORNIA AND COMMENCED SALES OF ITS COACHELLA PREMIUM CANNABIS CONCENTRATES AND VAPE CARTRIDGES
Fincanna Capital Corp. (CALI.C) is providing the following update on Cultivation Technologies Inc. (CTI), its first investment in California. CTI announced today that its Coachella Premium brand of cannabis concentrates and vape cartridges is expanding its retail presence, securing distribution in 10 dispensaries across California.
Coachella Premium, which procures craft cannabis from artisan, licensed cultivators to produce some of the highest-quality concentrates in California, is now being sold at 10 California locations, including premier dispensaries, Connected Cannabis (multiple locations), Lighthouse (Coachella), 420 Central (Santa Ana) and From the Earth (Santa Ana).
"We are very pleased with the growth and expansion of the Coachella Premium brand throughout California and are impressed with the quality of dispensaries that are selling the products. Concentrate and vape sales generate high-margin revenue for Fincanna and its shareholders," said Andriyko Herchak, president and chief executive officer of Fincanna Capital. "These leading dispensaries, choose only the highest-quality, premium brands in a rapidly growing market which we are very excited to a part of. We see an incredible future for the company while it continues to expand its brand presence across California, the largest market in North America."
The Coachella Premium line of products features all the major concentrate types including diamonds, sauce, shatter, batter and sugar, with a continuing list of strains. Coachella Premium vape cartridges feature organic fruit terpenes and all-natural cannabis-derived terpenes for extraordinary flavours. Initial market feedback gathered during the product development phase indicates that Coachella Premium brand vape cartridges offer a unique proposition within the vaporizer sector -- one of the fastest growing verticals in the cannabis market.
All Coachella Premium products, unlike a majority of concentrates in the marketplace, undergo full panel testing and a scoring process, where only select batches are approved for distribution under the Coachella Premium brand label.
Coachella Manufacturing is one of the first companies to operate a legal solvent extraction facility for cannabis in California. The company produces THC concentrates through BHO extraction to create custom formulations at its state-of-the-art, licensed lab which includes the latest in cold storage, extraction and distillation technologies. The company is working to maximize commercialization of its products from the facility, which can process an estimated 6,000 pounds of biomass per month translating to approximately 3.7 million grams of raw cannabis oil per year.
About Fincanna Capital Corp.
Fincanna provides financing to top-tier companies in the licensed medical cannabis industry in exchange for a royalty on revenues. Fincanna, led by a team of finance and industry experts, is building its diversified portfolio of royalty investments in scalable, best-in-class projects and companies in U.S. legal states, with a focus on California.