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On May 1, 2019, the company acquired all of the rights and interests of Cultivation Technologies Inc. (“CTI”) in substantially all of the existing property of CTI, including but not limited to all accounts, contract rights, general intangibles including trade marks, service marks and trade names, furniture, fixtures and equipment and the economic benefits of CTI’s membership interests in its subsidiaries.

The acquisition of property was made through a foreclosure at public auction pursuant to California Commercial Code section 9610.  The consideration paid by FinCanna was a partial offset against total amounts owing to FinCanna by CTI and the amount of the remaining balance is still owed to FinCanna. FinCanna and CTI are in discussions towards the best path forward for the underlying businesses of CTI.


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