Dedicated Brand Focused on Niche Market Opportunities in the California Cannabis Market
VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / FinCanna Capital Corp. ("FinCanna") (CSE:CALI)(OTCQB:FNNZF) an investment company for the U.S. licensed cannabis industry is pleased to announce that QVI Inc., which recently agreed under binding LOI to become a wholly owned subsidiary of FinCanna, is a cannabis-infused product manufacturer located in Sonoma County, California doing business as "The Galley" and is launching its proprietary cannabis brand Big Fish Edibles.
QVI's, Big Fish brand is focused on creating a best-in-class line of products, the first two of which will be "The Pearl" - a cultured, lustered milk chocolate ball with a pearl coating and "Three Sheets" - cannabis-infused Bath Salts with Eucalyptus and Lavender. Future products in the Big Fish boat will include a line of 3 upscale gummy SKU's, "Ship Wrecked", one of which will be sugar-free.
The proprietary Big Fish brand leverages the strengths of "The Galley" and its team from product development and formulations through manufacturing, packaging, quality assurance, marketing and distribution. The Big Fish brand also offers the advantage of being a new, high margin revenue stream for QVI, as all aspects of production are handled in house. QVI expects to have its initial products on dispensary shelves in California in the next 30 to 60 days.
Annie Holman founder and CEO of QVI said, "Launching our own brand - Big Fish - has always been part of our game plan. We have the capacity, the talent and the capabilities to formulate and create a line of top-quality niche products where we see strong demand. Additionally, we have a great network of relationships across the industry that are excited to help us launch Big Fish."
Andriyko Herchak, CEO of FinCanna Capital. "Launching an in-house high-margin brand will be a strong benefit to both QVI and FinCanna as an important source of incremental revenue to our growing co-manufacturing business. We are optimistic that the sale of Big Fish products will grow to be a meaningful component of the company's revenues as we establish the brand in the market. The Galley is a best-in-class facility, and with Annie's leadership and her excellent team, we anticipate a bright future for the Big Fish brand."
Total combined sales of cannabis across legal state markets crossed the $20 billion threshold for calendar year 2020. With new legal markets expected to activate in the next two years, total legal sales are projected to grow at a compound annual growth rate (CAGR) of 16%, to reach $43 billion by 2025. California represents 26 % of annual sales in the legal market in the US in 2020 or ~$5.2Billion with approximately 14% of sales in the edible and specialty product segment or approximately $720m annually. Source: New Frontier Data.
About QVI
QVI Inc, which stands for Quality, Value and Integrity, doing business as "The Galley", is an 8,300 sq. ft. fully licenced state of the art cannabis-infused co-manufacturing facility is built to FDA and CDPH standards located in Santa Rosa CA. "The Galley" has been fully operational since June 2020 and continues to aggressively add to its book of business of cannabis brand manufacturing clients.
The company attributes the acceleration of customer demand from a growing roster of 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, Beauty Products, 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. For more information about "The Galley" please visit thegalleysr.com
QVI's immediate goal is to become the premier contract manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
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
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Investor Relations:
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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 statements, other than statements of historical fact, included herein including, without limitation, statements about the planned acquisition of 100% of the issued and outstanding shares of QVI; market for, and effectiveness of, QVI products or services, the ability of QVI to commence and expand operations and generate sales, revenues profits and positive cashflows, the operating capacity of QVI's facility, and FinCanna's ability to earn and realize revenues from its investee companies. 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 that the acquisition of 100 % of QVI may not complete as currently anticipated, or at all; and 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.