FinCanna’s first investment is with Cultivation Technologies Inc. (“CTI”). CTI is comprised of a team of experts from Fortune 150 agriculture, medical cannabis, law, engineering and technology. CTI has demonstrated the ability to navigate permitting in California, the largest medical cannabis market in North America. FinCanna provides funding to CTI for its planned, fully-entitled, large-scale indoor medical cannabis facility to be developed in Coachella, Southern California.
- To be located on six acres, the 111,500 ft.² planned Coachella Campus will include vertical grow cultivation, extraction and manufacturing, testing, distribution, and centralized processing, designed to employ innovative, best-in-class solutions (the “Coachella Project”). CTI has secured 7 megawatts of power;
- FinCanna is entitled to complete its funding to CTI in exchange for a Royalty of 14% of CTI’s revenues from its Coachella Project;
- FinCanna also has the right to finance CTI’s next 2 licensed cannabis facility projects on the same terms as the Coachella Project;
- FinCanna has secured loan to CTI of US$6 million earning interest of 20% per annum.