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Trident Distribution to Expand Full-Service Distribution for Licensed Cannabis Brands in California
VANCOUVER, BC / ACCESSWIRE / May 6, 2021 / FinCanna Capital Corp. ("FinCanna") (CSE:CALI) (OTCQB:FNNZF) a royalty company for the U.S. licensed cannabis industry, is pleased to announce that its portfolio company, QVI Inc., a cannabis-infused product manufacturer located in Sonoma County, California, doing business as "The Galley", has launched its full service cannabis distribution company "Trident Distribution" under its California Bureau of Cannabis Control Type 11 license,.
Trident Distribution is focused on developing and expanding full-service distribution for licensed cannabis brands initially targeting the San Francisco Bay Area and extending out across Northern California. Trident has the additional focus of providing sales representation for brands at the dispensary level. These two services are the final steps in connecting brands to consumers and are a natural extension of QVI's co-manufacturing business and its value proposition as a "one-stop shop" for in and out-of-state brands.
Both of these services represent important new revenue streams for QVI. Trident will operate as an independent profit center with a client base generated from The Galley's current line-up of over 35 cannabis brands, future clients of The Galley and other licensed brands in the state of California.
Trident's mission of accelerating time to market through efficient distribution promotes quicker sell-through for brands and accordingly faster recurring production orders for The Galley's manufacturing clients. To ensure performance, Trident has hired two senior sales & marketing executives, each with 15 plus years of leadership experience in cannabis and related industries, to drive operations.
Annie Holman, Co-Founder and CEO of QVI said, "We are already seeing Trident's services being highly attractive to brands as they provide the final steps in accessing the retail consumer. It's also a perfect fit with our core manufacturing business at The Galley and an important new source of revenue. Trident drives superior value for our brand customers by promoting easier and quicker access to the dispensary shelf and ultimately faster sell-through. This in turn will drive the velocity of client manufacturing re-orders, leading to growing recurring revenues for Trident, The Galley and the Galley's client brands as increasing efficiencies in the sales cycle kick in."
"The ability to offer full distribution services including retail sales representation in-house further enhances The Galley's ‘one stop shop' value proposition to cannabis brands looking to scale their business," said Andriyko Herchak, CEO of FinCanna Capital. "As well as adding another growing revenue stream to its operation, Annie and her team at The Galley continue to differentiate themselves in the market with their innovative customer service and strong commitment to excellence at every level."
QVI's 8,300 sq. ft. state of the art co-manufacturing facility (The Galley) located in Santa Rosa CA, is built to FDA and CDPH standards. The company attributes the acceleration of customer demand from a growing roster of over 35 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, 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 annual operating capacity of approximately US$45 million. For more information about "The Galley" please visit thegalleysr.com
QVI's immediate goal is to become the premier contract cannabis manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.
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. (New Frontier Data)
About FinCanna Capital Corp.
FinCanna is a royalty company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. The company earns its revenue from royalties paid by its investee companies that are calculated based on a percentage of their total revenues.
FinCanna's scalable royalty model provides an attractive alternative or complement to debt or equity financing for its investee companies. 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 known as The Galley is differentiated from other contract manufactures by its 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 contract 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 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 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 results of operations of QVI and the timing thereof, QVI's client lists, FinCanna's ability to fund and source future projects, 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 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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