Refined Resin Technologies is a cannabinoid research and refinery company that intended to provide B2B and B2C products and services from its facility in Oakland, California to licensed dispensaries and distributors in the licensed cannabis supply chain. Refined Resin was not able to raise the additional capital it needed to become operational. As a result, FinCanna has written down its investment in Refined Resin to the amount of $1,235,823 (US$933,895) comprised of US$790,703 in recently purchased equipment and a US$143,192 deposit with an equipment manufacturer. FinCanna is working to maximize the recoverable amount from these assets, which will likely be via a sale to a third party.
To learn more about Refined Resin, visit: https://www.refinedresin.com/