FinCanna Capital Corp (CSE:CALI)(OTCQB: FNNZF) a royalty company for the U.S. licensed cannabis industry has provided comments on the announcement of The Secure and Fair Enforcement (SAFE) Banking Act (H.R. 1595), which was approved by the House Financial Services Committee on Thursday, March 28, 2019. The bill will advance to the House floor for deliberation by the full legislative assembly.

The bill if passed would allow financial institutions to legally provide services to cannabis-related businesses operating in compliance with state laws. With a vote of 45-15, the approval marks the first time a cannabis banking-related bill has been approved by a congressional committee.


Morris Reid, a globally recognized corporate and political strategist and Director on FinCanna’s Board, comments, “This is a critical step forward for the cannabis industry and the cannabis reform agenda.  Regardless of where you stand on legalization, making banking available to cannabis businesses in states where it is legal, provides much needed stability to the industry.”

Andriyko Herchak, CEO of FinCanna Capital states, “This bill represents an important development in the continuing evolution of the industry. As an investor in several rapidly emerging companies we know that access to banking services will significantly reduce transaction costs and increase the growth potential for businesses across the sector. Importantly, it also supports both safety and transparency for industry participants in what has been historically a cash-only enterprise.”

About FinCanna

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 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.

For additional information visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com

FinCanna Capital Corp.
Andriyko Herchak, CEO & Director

Investor Relations:

Arlen Hansen
Kin Communications
1-866-684-6730
CALI@kincommunications.com

Cautionary Note Regarding Forward-Looking Statements
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 how the developing U.S. legal regime will impact the cannabis industry.  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 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 undertakes 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. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

Click here to connect with FinCanna Capital Corp (CSE:CALI) for an Investor Presentation. 

Source: www.globenewswire.com

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