- Cultivation Technologies Inc. (“CTI”) has established an interim medical cannabis extraction facility (the “Interim Facility”) on the Coachella Property in accordance with CTI’s Conditional Use Permit;
- This lab will produce licensed medical cannabis products before the permanent extraction facility at the Coachella Project is completed;
- The Interim Facility can process up to 6,000 pounds of biomass per month which can produce approximately 3.7 million grams of raw oil per year, with room for expansion;
- FinCanna is entitled to receive 50% of the profits from the Interim Facility;
- It is expected that upon completion the Coachella Project will be able to process 30,000 to 50,000 pounds of biomass per month, or the equivalent of 18 million grams to 30 million grams of raw oil per year.
March 2018 Update
CTI’s Coachella Premium Brand
CTI is currently expanding its product line, Coachella Premium, to include vaporizer cartridges, which will become available in the coming weeks. Initial market feedback gathered during the product development phase indicates that Coachella Premium's vaporizer cartridges offer a unique proposition within the vaporizer market, one of the fastest growing verticals in the cannabis market.
Manufacturing and Distribution Services
Since taking operational control at its Extraction Facility, and after obtaining state temporary licenses, CTI has acquired key accounts for contracted manufacturing and distribution.
Implementation of Commercial Sales Team
To commercially advance these opportunities, CTI has hired an experienced sales team consisting of a director of sales, two full-time sales managers, and three independent sales contractors.
For the full March 2018 update, please see press release dated March 19, 2018.