- 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.
Please see press release dated January 15, 2018 for additional details on CTI’s Interim Extraction.