FinCanna Portfolio Company QVI Inc. Initiates Production of Resonate Blends KOAN Cordials
FinCanna Capital Corp. (CSE:CALI, OTCQB:FNNZF) announces its investee company, QVI, Inc., has commenced production of Resonate Blends KOAN Cordials in California. This manufacturing partnership highlights QVI's capability to scale production and meet increasing demand for cannabis products. With a goal to become California's top cannabis manufacturer, QVI's facility can achieve a production capacity of approximately US$45 million annually. The legal US cannabis market is projected to exceed US$41 billion by 2025, with California accounting for US$8.2 billion.
- QVI's partnership with Resonate Blends supports a scalable production model.
- QVI's facility is designed to meet FDA and CDPH standards, enhancing credibility.
- Projected annual production capacity of approximately US$45 million positions QVI for growth.
- None.
VANCOUVER, BC / ACCESSWIRE / March 31, 2021 / FinCanna Capital Corp. ("FinCanna") (CSE:CALI)(OTCQB:FNNZF), a royalty company for the U.S. licensed cannabis industry is pleased to announce that its investee company QVI, Inc. doing business as "The Galley", a cannabis infused product manufacturer located in Sonoma County, California has initiated production of Resonate Blends (OTCQB:KOAN), a Cannabis based Wellness Lifestyle holding company, KOAN® Cordials.
"We are excited to work with The Galley due to their attention to manufacturing excellence, its experience producing a wide variety of cannabis products its ability to scale and its enthusiasm for our products and company", stated Resonate CEO Geoff Selzer. "In partnering with The Galley, it was not only important for us to have a professional manufacturing partner committed to excellence, but also a partner that is committed to the same values and target markets as we initiate the launch of the Cordials into the California market."
Resonate's first commercial release is a category breaking family of six precisely targeted effect blends called Cordials. They are neither tinctures nor edibles but have benefits of both. Consistent with their mission to "Master The Art of Experience", Resonate has integrated industry leading emulsification technologies, water solubility, with extremely stringent and precisely targeted formulation strategies to create single-dose blends that are consistent in effect. After multiple rounds of carefully managed blind testing, the Company is ready to release Cordials to an industry looking for carefully calibrated experiences that are repeatable and predictable.
Andriyko Herchak, CEO of FinCanna Capital said, "QVI's accelerating pace of customer acquisition is a testament to their outstanding team led by CEO Annie Holman and their growing reputation across the industry for excellence. Working with visionary companies like Resonate Blends further underscores their increasing base of recurring monthly revenues that will ensure the long-term growth of their business."
Annie Holman, CEO of QVI Inc. stated, "The Galley is being increasingly recognized as "the" manufacturing solution for in and out-of-state Brands who recognize that in a competitive marketplace, only the "best" will do. Resonate Blends' KOAN branded unique and highly specialized cordials is the type of manufacturing we excel at and we look forward to a prosperous future of shared success as they roll out these outstanding products across the state."
QVI's 8,300 sq. ft. state of the art co-manufacturing facility (The Galley) located in Santa Rosa CA, is built to FDA and CDPH standards. The company attributes the acceleration of customer demand from a growing roster of over 35 in-state and out-of-state brands 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
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 & Director
Investor Relations:
Kin Communications
1-866-684-6730
CALI@kincommunications.com
About Resonate Blends, Inc. (OTCQB:KOAN)
Based in Calabasas, California, Resonate Blends, Inc. is a cannabis holding company centered on valued-added holistic Wellness and Lifestyle brands. The company strategy is to ignite future growth by building a purpose-driven portfolio of research organizations, innovative and emerging brands and retail channels. The holding company's focus is finding mutual value between product and consumer by optimizing quality, supply chain resources and financial performance. The Company offers a family of premium cannabis-based products of consistent quality based on unique formations calibrated to Resonate Blends effects system, the industry gold standard in user experience. Visit www.koan.life for more information on the KOAN® consumer brands.
For Corporate information: www.resonateblends.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.
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