FinCanna Provides Commentary on West County Brands
Demand for Company’s MYTHC Life™ Products Continues to Grow
Vancouver, British Columbia, April 20, 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 commentary regarding the recent progress of its investee company, QVI Inc., operating as West County Brands (WCB).
Recent Developments Include:
- West County Brands’ industry leading distribution representative Calyx Brands, has placed a number of new sales orders for WCB’s award-winning joint venture partner Cherry Kola Farms’, live rosin products as well as for WCB’s own MYTHC Life™ disruptively priced gummies. Calyx has advised that their sales program is gaining momentum and expects to have the Company’s brands placed in 40+ retail locations in April, and they remain committed to expanding distribution throughout their existing 270 client account network by year end.
- West County Brands is in discussions with a number of service providers to add to its existing roster of delivery and distribution relationships, including the expansion of its “house account” channel with the addition of a multi-store dispensary & delivery business. These ongoing initiatives further bolster WCB’s focus on driving retail market penetration across California.
- West County Brands is nearing agreement with certain major cannabis consumer brands for co-branding opportunities. These businesses have significant distribution channels in place that would provide broad and immediate retail access for the Company’s co-branded products.
- Based on demand, West County Brands is currently producing several SKU’s of live rosin, THC and THC-CBD gummies under its MYTHC Life™ disruptively priced brand, and Cherry Kola Farms’ live rosin products. All current production is scheduled for allocation to the Company’s distributors, delivery services and retail dispensary accounts as completed.
- West County Brands is also ramping up its own statewide marketing efforts to take advantage of its strong momentum.
Annie Holman, Co-Founder and CEO of QVI said, “I'm thrilled to report that as the order book continues to grow and as new high-profile co-branding relationships come on stream, we are well positioned with robust manufacturing processes and staff to rapidly scale production as required. It’s also exciting to see the enthusiasm from consumers for our own MYTHC Life™ products. Our combination of best in class products with a retail price that all consumers can enjoy is clearly a winning formula.”
Andriyko Herchak, CEO of FinCanna Capital said, “I’m very happy to see the success being created with our ‘manufacturer to retail’ business model. We continue to see strong signals that our products and pricing are being well received in the market as evidenced by the reorders from our distribution network. I'm also pleased to see the new and potentially very powerful business opportunities with major brands that would substantially boost our financial results as our business continues to scale.”
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.
About QVI Inc.
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, Live Rosins, 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.