RE:RE:RE:QVI Vancouver, British Columbia, September 30, 2019 - FinCanna Capital Corp. (“FinCanna”) (CSE: CALI), (OTCQB: FNNZF), a royalty company for the U.S. licensed cannabis industry is pleased to report that its portfolio company QVI Inc., a cannabis infused product manufacturer located in Sonoma County, California, is experiencing greater than initially anticipated demand for its manufacturing services.
QVI reports that demand for its services from both in-state and out-of-state clients is substantially exceeding its previous estimates. Based on this demand, revenue from the first 12-months, upon commencement of commercial production, originally projected to meet or exceed US$7 million has now increased to over US$10 million with significant remaining capacity. Furthermore, revenue is expected to continue to escalate as marketing efforts utilizing the founders’ wide network of industry participants gains additional momentum.
QVI is currently completing the build out of its 8,300 square foot facility in Santa Rosa, CA and expects to be in full commercial operation in Q4. QVI management reports that all local permits and state licensing are on track and operating procedures, food safety guidelines and human resource requirements are in place. Additionally, QVI has upgraded their equipment specifications to increase throughput. They have also reconfigured their production flow adding certain capabilities that also support faster and more efficient product processing. These improvements will significantly increase the overall output capacity of the plant as it ramps to full production.