FinCanna Portfolio Company QVI Inc. Continues to On Board Leading Cannabis Brands for Contract Manufacturing
Vancouver, British Columbia, May 20, 2021- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI), (OTCQB: FNNZF), a royalty company for the U.S. licensed cannabis industry is pleased to announce growing demand and onboarding of leading cannabis brands for its investee company QVI, Inc. doing business as “The Galley”, a cannabis infused product manufacturer located in Sonoma County, California.
Andriyko Herchak, CEO of FinCanna Capital said, “We’re very pleased with QVI’s growth trajectory as they continue to add business from new brands further adding to their on-going and recurring revenues being generated from their existing roster of manufacturing clients. The accelerating demand for their services is a testament to CEO Annie Holman and her team and their growing reputation for excellence across the industry.”
QVI’s 8,300 sq. ft. state of the art co-manufacturing facility located in Santa Rosa CA, built to FDA and CDPH standards and has been fully operational since July 2020 and has an annual operating capacity of ~US$45 million. The company is experiencing a steady increase in re-orders from its growing roster of over 35 brands and accelerating new demand for its services including the recently on boarded, Bad Mommy Edibles, well known for their delicious “chocolate with benefits”, MammaMia , for their traditional Italian influenced recipe’s from the Isle of Capri and FA Nino’s Artisan Products & Catering, famous for their mouth-watering infused hot sauces who commented as follows;
“I cannot recommend The Galley enough. First off they have a killer facility and more importantly, Annie and her team are pleasant and efficient to deal with. They are well-informed and understand food manufacturing. The Galley makes this Bad Mommy one delighted Bad Mom,” said Lalita Khosla, Founder, Bad Mommy Edibles.
“Annie and The Galley team are outstanding. In launching our brand, they have been supportive, contributory and helpful to us, especially as a start-up navigating the thicket of regulations and bumps in the road. We couldn’t have launched our brand without them; they are stable, bona fide real partners,” said, Eric Levy, Founder, MammaMia.
“I can go on and on stating nothing but fantastic things about The Galley and it's CEO Annie Holman. Amazing staff, beautiful facility, impeccable values and pure honesty, not to mention her “no BS” way of conducting business. If you are lucky enough to work with The Galley, be thankful and know you are in the best hands in the industry,” said Chuck Ross, CEO, F.A. Nino's Artisan Products & Catering.
QVI management attributes the acceleration of customer demand to its automated manufacturing expertise, superior production quality and its “one stop shop” capability to produce virtually all high-value cannabis products including, Edibles, Topicals, Tinctures, Chocolate, Hard Candies, Gummies and Beverages under one roof. Additionally, its outstanding R&D team has the ability to assist brands in launching not only new individual products but whole new product lines. The Galley’s operational design also positions the business to rapidly scale production as demand escalates towards its annual operating capacity of approximately US$45 million. For more information about “The Galley” please visit www.thegalleysr.com
Annie Holman, CEO of QVI Inc. stated, “We are extremely pleased with the response we are getting from our growing client base of great in and out of state brands. The word is getting out. The Galley is being increasingly recognized as “the” manufacturing solution for Brands who recognize that in a competitive marketplace, only the “best” will do.”
QVI’s immediate goal is to become the premier contract cannabis manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
The legal U.S. cannabis market is expected to reach more than US$41 billion in annual sales by 2025 with California, the single largest market in North America, representing an estimated 20% market share or US$8.2 billion. (New Frontier Data)
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
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 include but are not limited to the statements relating to the effectiveness of QVI’s products or services, the ability of QVI to continue and expand operations and the timing thereof, the success of sales and other marketing plans, the size, expected capacity, success of operations and future revenues and timing thereof, QVI’s ability to obtain financing for the development of its business and its ability to pay FinCanna royalties or other amounts when due. 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.