FinCanna Provides Update on Joint Venture with Cherry Kola Farms
West County Brands Launches its Own MYTHC Life™ Live Rosin Product
Vancouver, British Columbia, March 9, 2022 - FinCanna Capital Corp. (“FinCanna”) (“the Company”)(CSE: CALI) (OTCQB: FNNZF) an investment company focused on the U.S. licensed cannabis industry, is pleased to provide an update on the Joint Venture between FinCanna’s investee company QVI (operating as West County Brands) and Cherry Kola Farms, an award winning producer of premium cannabis products in California.
The Joint Venture includes a 50/50 profit share, which will drive revenue for both companies derived from the sales of Cherry Kola Farms live rosin products and West County Brands live rosin products that will be co-labelled with Cherry Kola Farms.
The initial late-February market introduction of Cherry Kola Farms’ live rosin products was targeted at a core group of dispensaries to allow for direct feedback from customer interactions. Response from dispensary owners, budtenders and consumers was unanimously positive as evidenced by a rapid sellout and re-orders received from each participating retail location. Based on this initial success, market expansion and penetration initiatives are underway with direct sales & marketing support and brand ambassadorship from Petalfast and industry leading distribution services from Calyx Brands, that jointly have connections to 1,100 retail and delivery locations across California. This near-term inaugural market expansion program is focused on 40+ dispensaries in select southern and northern California markets with further market expansion to follow.
Cherry Kola Farms’ premium live rosin products manufactured at West County Brands, are created with only the finest fresh frozen cannabis. Cherry Kola Farms utilizes the highest quality equipment and processes and finest input materials, including its proprietary genetics, Kola Classics and Kola Collab strains, which are bred to create high efficacy concentrates and unique flavor profiles. Cherry Kola Farms is also directing the production of West County Brands, MYTHC Life™ and GOTHC Life™ live rosin products ensuring select biomass acquisition and superior production practises.
Additionally, initial market introduction of West County Brands own MYTHC Life™ live rosin products is being launched in conjunction with Cherry Kola Farms market expansion program with Calyx Brands and Petalfast. MYTHC Life’s™ live rosin products are co-labelled with Cherry Kola Farms, bringing instant brand credibility with dispensary owners, budtenders and consumers. This is especially advantageous for MYTHC Life™ as it leverages its connection to Cherry Kola Farms premium priced products, and MYTHC Life™ is disruptively priced at approximately 50% discount to current market prices establishing a unique and compelling position in the market.
Annie Holman, Co-Founder and CEO of QVI said, “It has been wonderfully busy at West County Brands as we drive live rosin production with the great Cherry Kola Farms team for their amazing premium products and the initial production run of our disruptively priced MYTHC Life™ live rosin. I’m also excited to be working directly with Calyx Brands and Petalfast, the best distribution and sales & marketing team one-two punch in the state. We’ve been getting amazing feedback on our products and brand direction, and I can’t wait to follow up with additional products under the MYTHC Life™ brand to be followed by product introductions of our GOTHC Life™ and Huckleberry™ brands. Stay tuned.”
Andriyko Herchak, CEO of FinCanna Capital said, “We’re very pleased with our exciting Joint Venture relationship with Cherry Kola Farms and our live rosin products. These are highly regarded by the market for their incredible and authentic flavours, derived from our JV partner’s proprietary genetic strains and their manufacturing expertise in delivering the best possible products on the market today. We’re very encouraged by early positive consumer response as we continue to rollout to dispensaries across the state. We expect the Cherry Kola Farms JV to be an important source of revenue and cashflow starting in the near term and growing substantially month to month as we fully penetrate the market. Additionally, we’re very excited to disrupt the massive California market with our half-priced MYTHC Life™ live rosin products.”
To review FinCanna Capital’s recent investor presentation click here.
The legal U.S. cannabis market is expected to reach more than US$41 billion in annual sales by 2025 with California, the single largest market in North America, representing an estimated 20% market share or US$8.2 billion and edibles comprising over $900m of the overall California Market (New Frontier Data)
About FinCanna Capital Corp.
FinCanna is an investment company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. FinCanna is focused on delivering high impact returns to its shareholders by way of a strategically diversified investment portfolio.
QVI, which stands for Quality, Value and Integrity, is located in Sonoma County, California. Their purpose-built facility previously known as The Galley and now West County Brands is differentiated from other manufactures by its proven automated capabilities to produce virtually all high-value cannabis products at large volumes under one roof. The facility is built to FDA and CDPH standards and is focused on high demand areas of production; Edibles, Topicals, Tinctures, Chocolates, Hard Candies, Gummies, Beverages, Vapes, Pre-Rolls and Flower Packaging.
QVI’s immediate goal is to become the premier manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Information set forth in this news release contains forward-looking statements or forward-looking information (collectively, “forward-looking statements”) under applicable securities laws. Forward-looking statements herein include,, without limitation, statements about anticipated benefits of the joint venture agreement with Cherry Kola Farms (CKF); the launch (and timing thereof), implementation and anticipated benefits of the new “manufacturer to retail” revenue model and strategy, including anticipated superior margins, better pricing and implied profitability; the $2 million in private placement financing; and future plans and strategies of the Company. 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, risks that the joint venture with CKF and the new “manufacturer to retail” model and strategy may not result in the anticipated benefits to the Company, or at all; the Company may not be able to raise $2 million in private placement financing, or any funds at all; the Company may not receive approval for the $2 million financing; and 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.