Demand for the Company's MYTHC Life Branded Products Continues to Grow
VANCOUVER, BC / ACCESSWIRE / March 17, 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 regarding its investee company, QVI Inc., operating as West County Brands, regarding the product rollout of its MYTHC Life brand and its joint venture with Cherry Kola Farms, an award winning producer of premium cannabis products in California.
Beginning last week, sales & marketing partner Petalfast, introduced West County Brands own MYTHC Life's live rosin products and flavoured gummies, co-labelled with Cherry Kola Farms, to a cross section of retail dispensaries and multi-store operations in Northern and Southern California. The response was unanimously positive, further validating the brand's core product features of superior quality and disruptive price.
Based on demand, industry leading distributor Calyx Brands, has committed to placing West County Brands products in 40 retail locations in March/April and are committed to expanding distribution throughout their existing 270 client account network by year end. This should put QVI in a position to rapidly grow its revenues in the coming months.
West County Brands is currently in production with 4 SKU's of flavoured gummies and one SKU of live rosin gummies under the MYTHC Life brand and is continuing its production of Cherry Kola Farms live rosin products. All current production is scheduled for delivery to retail dispensary accounts as soon as completed. Going forward, West County Brands will ramp-up its output to meet the growing demand and will expand its production to include more SKU's under both its MYTHC Life and GOTHC Life labels.
Annie Holman, Co-Founder and CEO of QVI said, "We're so pleased to be working with the outstanding people at Petalfast and Calyx. It was fantastic to meet with dispensary owners face-to-face last week and see their enthusiasm for our brand, MYTHC Life. I'll say it again, Calyx Brands and Petalfast are first-rate distribution and sales & marketing teams, covering the state of California and we expect tremendous success together."
Andriyko Herchak, CEO of FinCanna Capital said, "I'm very pleased to see our "retail to manufacturing model" featuring superior products and disruptive pricing come together in such a powerful way. Our team is driving market penetration across the state with both dispensaries and delivery businesses to build out our sales and distribution footprint. It's exciting to see the order book growing, pushing the West County Brands team to add new SKU's and to ramp-up production to meet the increasing demand. We believe we have all the pieces in place for success; proven production capabilities, quality branded disruptively priced products, a profit-share joint venture with highly regarded Cherry Kola Farms and outstanding sales & marketing and distribution representation with Petalfast and Calyx Brands. The strong initial demand for our products has validated our business model and we look forward to increasing revenues and cash flow 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.
For additional information visit www.fincannacapital.com and FinCanna's profile at www.sedar.com
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
info@fincannacapital.com
1.833.346.2266
Forward-Looking Information
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.
SOURCE: FinCanna Capital Corp.
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