FinCanna Portfolio Company QVI Inc. Continues to On Board Leading Cannabis Brands for Contract Manufacturing
FinCanna Capital Corp. (OTCQB:FNNZF) reports strong demand for its investee company QVI, Inc., a cannabis product manufacturer known as The Galley. CEO Andriyko Herchak highlights QVI's growth, with over 35 brands and increasing re-orders, contributing to recurring revenues. The operational facility has a capacity of ~$45 million per year. The legal U.S. cannabis market is expected to exceed $41 billion by 2025, with California holding 20% market share. QVI aims to become California's premier contract cannabis manufacturer and expand nationally.
- QVI, Inc. has onboarded over 35 brands, increasing recurring revenues.
- Annual operating capacity of QVI's facility is approximately US$45 million.
- The legal U.S. cannabis market is projected to exceed US$41 billion by 2025.
- None.
VANCOUVER, BC / ACCESSWIRE / May 20, 2021 / FinCanna Capital Corp. ("FinCanna") (CSE:CALI), (OTCQB:FNNZF), a royalty company for the U.S. licensed cannabis industry is pleased to announce growing demand and onboarding of leading cannabis brands for its investee company QVI, Inc. doing business as "The Galley", a cannabis infused product manufacturer located in Sonoma County, California.
Andriyko Herchak, CEO of FinCanna Capital said, "We're very pleased with QVI's growth trajectory as they continue to add business from new brands further adding to their on-going and recurring revenues being generated from their existing roster of manufacturing clients. The accelerating demand for their services is a testament to CEO Annie Holman and her team and their growing reputation for excellence across the industry."
QVI's 8,300 sq. ft. state of the art co-manufacturing facility located in Santa Rosa CA, built to FDA and CDPH standards and has been fully operational since July 2020 and has an annual operating capacity of ~US
"I cannot recommend The Galley enough. First off they have a killer facility and more importantly, Annie and her team are pleasant and efficient to deal with. They are well-informed and understand food manufacturing. The Galley makes this Bad Mommy one delighted Bad Mom," said Lalita Khosla, Founder, Bad Mommy Edibles.
"Annie and The Galley team are outstanding. In launching our brand, they have been supportive, contributory and helpful to us, especially as a start-up navigating the thicket of regulations and bumps in the road. We couldn't have launched our brand without them; they are stable, bona fide real partners," said, Eric Levy, Founder, MammaMia.
"I can go on and on stating nothing but fantastic things about The Galley and it's CEO Annie Holman. Amazing staff, beautiful facility, impeccable values and pure honesty, not to mention her "no BS" way of conducting business. If you are lucky enough to work with The Galley, be thankful and know you are in the best hands in the industry," said Chuck Ross, CEO, F.A. Nino's Artisan Products & Catering.
QVI management attributes the acceleration of customer demand to its automated manufacturing expertise, superior production quality and its "one stop shop" capability to produce virtually all high-value cannabis products including, Edibles, Topicals, Tinctures, Chocolate, Hard Candies, Gummies and Beverages under one roof. Additionally, its outstanding R&D team has the ability to assist brands in launching not only new individual products but whole new product lines. The Galley's operational design also positions the business to rapidly scale production as demand escalates towards its annual operating capacity of approximately US
Annie Holman, CEO of QVI Inc. stated, "We are extremely pleased with the response we are getting from our growing client base of great in and out of state brands. The word is getting out. The Galley is being increasingly recognized as "the" manufacturing solution for Brands who recognize that in a competitive marketplace, only the "best" will do."
QVI's immediate goal is to become the premier contract cannabis manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
The legal U.S. cannabis market is expected to reach more than US
About FinCanna Capital Corp.
FinCanna is a royalty company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. The company earns its revenue from royalties paid by its investee companies that are calculated based on a percentage of their total revenues.
FinCanna's scalable royalty model provides an attractive alternative or complement to debt or equity financing for its investee companies. FinCanna is focused on delivering high-impact returns to its shareholders by way of a strategically diversified investment portfolio.
For additional information visit www.fincannacapital.com and FinCanna's profile at www.sedar.com
FinCanna Capital Corp.
Andriyko Herchak, CEO
Investor Relations:
Kin Communications
1-866-684-6730
CALI@kincommunications.com
Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All forward looking statements, other than statements of historical fact, included herein include but are not limited to the statements relating to the effectiveness of QVI's products or services, the ability of QVI to continue and expand operations and the timing thereof, the success of sales and other marketing plans, the size, expected capacity, success of operations and future revenues and timing thereof, QVI's ability to obtain financing for the development of its business and its ability to pay FinCanna royalties or other amounts when due. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the CSE listing statement available at www.SEDAR.com and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
SOURCE: FinCanna Capital Corp.
View source version on accesswire.com:
https://www.accesswire.com/648293/FinCanna-Portfolio-Company-QVI-Inc-Continues-to-On-Board-Leading-Cannabis-Brands-for-Contract-Manufacturing
FAQ
What recent developments has FinCanna reported regarding QVI, Inc.?
What is QVI's annual operating capacity?
What market share does California hold in the U.S. cannabis market?
What is the stock symbol for FinCanna Capital?
How is FinCanna positioned in the cannabis industry?
