FinCanna Capital Announces Wholly Owned Green Compliance Inc., Delivers HIPAA Compliant Point-of-Sale Solutions for US Licensed Cannabis Dispensaries and Cultivators
Vancouver, British Columbia, Feb. 17, 2021 - FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF), is pleased to provide a product and new feature update on its wholly owned royalty portfolio company Green Compliance Inc. (“Green Compliance”) and its ezGreen proprietary software that delivers HIPAA compliant point-of-sale (POS) solutions for licensed cannabis dispensaries and cultivators in the United States.
The ezGreen POS solution is comprised of a robust suite of tools & features including:
- Customizable reporting, fully integrated with Metrc (Marijuana Enforcement Tracking Reporting Compliance), the mandatory compliance reporting system that provides tracking and tracing for government agencies regulating legalized marijuana in California and fourteen other states and the District of Columbia.
- Customizable workflow management capabilities, COGS reporting, full accounting functionality, sales reporting, cash tracking and a built-in customer rewards program.
- A proven comprehensive inventory tracking platform that allows dispensaries to track taxes by product for essential reporting at the city, county, and state levels.
- Additionally, ezGreen, in conjunction with industry leaders, Cannveya and CannCurrent, has launched an all-in-one bundle that gives dispensary owners a robust, scalable home delivery solution for both in store fulfillment and dynamic delivery options with flexibility to integrate with any third-party software in a single, intuitive interface.
Three significant market drivers have emerged, signalling the need for greater compliance and reporting for licensed cannabis businesses across the US. Firstly, reduced taxation revenues at the state and county levels due to the business impacts of the COVID-19 pandemic. Secondly, the prospect of legalization of cannabis federally, signalled by the recent Democratic electoral victory. Thirdly, again COVID-19 related, the market need for compliant cannabis delivery services, as consumers increasingly prefer home delivery to in store shopping.
eZGreen Compliance is ideally positioned to capitalize on these market trends as it is the only HIPAA (Health Insurance Portability and Accountability Act) certified POS software in the market. Its proven front-to-back solution further differentiates itself by its proprietary Business Intelligence Dashboard that substantially reduces the time and costs associated with managing product information and client data, in a fully compliant state-by-state environment.
eZGreen is also particularly effective for mitigating risk for multi-state operators (MSOs) that manage a diverse portfolio of licensed retail locations and the potential for incurring significant fines associated with HIPAA data breaches.
Andriyko Herchak, CEO of FinCanna Capital said, “ezGreen’s software is ideally positioned to capitalize on the increasing demand across all levels of government for greater compliance and revenue reporting from licensed cannabis dispensaries. Its superior POS solution is also designed to improve overall operations for their dispensary clients to reduce costs, increase efficiencies and ultimately be more profitable. Their new home delivery functionality is also well timed to capitalize on a fast-growing cannabis delivery market.”
Currently focused on California and certain other states, Green Compliance has built up a robust affiliate network and has been integrated in an MSO’s operation in California. Green Compliance has also signed an alliance agreement with one of the largest distributors in California to immediately ramp up its marketing efforts targetted at all licensed retailers in the state.
About Green Compliance
Green Compliance’s ezGreen POS software is the only HIPAA (Health Insurance Portability and Accountability Act) certified point-of-sale software in the market. It was developed with Automated Healthcare Solutions (“AHCS”), one of the largest point-of-care software solution providers, with an 18-year operational history in the medical sector and was created to provide similar compliance guidelines, standards, and disciplines to the US licensed cannabis industry.
The ezGreen business model is a function of its rapidly scalable Software as a Service (SaaS), point-of-sale product that also offers a free solution, generating revenue on a per transaction basis allowing dispensary owners to maintain compliance without another COGS cost that cannot be written off on taxes due to regulation 280e requirements.
About FinCanna Capital Corp.
FinCanna is a royalty company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. The Company earns its revenue from royalties paid by its investee companies that are calculated based on a percentage of their total revenues.
FinCanna’s scalable royalty model provides an attractive alternative or complement to debt or equity financing for its investee companies. FinCanna is focused on delivering high-impact returns to its shareholders by way of a strategically diversified investment portfolio.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All forward looking statements, other than statements of historical fact, included herein , without limitation, statements relating the market for, and effectiveness of, ezGreen software, the ability of Green Compliance to expand operations and generate sales and revenues, FinCanna’s ability to fund and source future projects, and FinCanna’s ability to earn and realize revenues and profits from ezGreen. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the CSE listing statement available at www.SEDAR.com and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.