FinCanna Capital Corp. (“FinCanna”) (CSE:CALI), (OTCQB:FNNZF) a royalty company for the U.S. licensed cannabis industry, announces that its portfolio company ezGreen Compliance (“ezGreen”) has completed its integration with Marijuana Tracking Enforcement Compliance (“Metrc”) for the states of California, Colorado, Maryland, Massachusetts, Montana and Oregon. ezGreen provides state-of-the-art enterprise compliance and Point-of-Sale (POS) software solutions for licensed cannabis dispensaries in the United States.

Compliance with Metrc is mandatory for all California cannabis permanent licensees. Licensees, to remain compliant must migrate their current product inventory on to the Metrc platform enabling the tracking and reporting of cannabis and cannabis products as they move through the commercial cannabis supply chain. ezGreen’s POS software supports and simplifies the maintenance of accurate reporting, inventory control and taxation requirements for licensees seeking to remain compliant.


With this integration, ezGreen becomes the first Point-of-Sale solution designed by medical, data and security professionals to be sanctioned by Cannabis Control Commissions in 6 States, with applications for certification made for the remaining Metrc States. This integration with Metrc allows ezGreen customers to substantially reduce their time and costs associated with managing product information and client data, in a fully compliant state-by-state environment.

Specifically developed to address the needs of the licensed cannabis Industry, ezGreen Compliance is a Health Insurance Portability and Accountability Act (HIPAA) certified POS solution developed and supported by Automated HealthCare Solutions (AHCS). AHCS is a leading point-of-care tracking and dispensing software solution developed over the past 17 years which currently supports 3,500+ active physician operated clinics and dispensaries, all while maintaining HIPAA compliance following essential Health and Human Services standards in the United States.

Metrc is a turnkey regulatory compliance system that provides, tracking and tracing specifically designed for government agencies regulating legalized marijuana. Metrc covers a substantial portion of the legal U.S. cannabis market having won exclusive seed-to-sale tracking contracts with twelve states, which include over 5,700 retail dispensary licenses available in their geographic coverage. Cannabiz Media.

“Cannabis industry data standards are increasingly mirroring the pharmaceutical industry’s patient data security protocols,” said Mike Coner, President of ezGreen. “Our POS solution delivers data security and integrates with any technology platform which supports operators in streamlining their operations and lowering costs related to double data entry. ezGreen also provides fully customized reporting and real time data analytics enabling businesses to make more effective decisions. With our recent integration with Metrc we are now able to deliver a complete compliance and data management solution.”

“We see this integration as the missing link that combines the Seed-to-Sale power of Metrc with the equally powerful Sale-to-State tracking and reporting delivered by ezGreen,” said Andriyko Herchak, CEO of FinCanna Capital. “Compliant operations and reporting is a “must have” for retailers and dispensaries, and this integration with Metrc positions ezGreen as a leader in the space. We anticipate strong performance from ezGreen going forward as they continue to strategically expand their market opportunity.”

Integrated via Application Programming Interface (API) with Metrc, ezGreen is now positioned to provide its POS solution to cannabis operators throughout the 6 states as a complete and comprehensive compliance and business information solution. This combined solution links the strengths of the Metrc technology which provides aggregate data regarding cultivation, production, transportation and sales of cannabis within the regulated model with ezGreen’s strengths as a POS solution that integrates with Metrc under state specific technology guidelines to protect patient and customer records while offering dispensaries custom data and analytics.

ezGreen tracks products in real time and is able to instantly identify product related discrepancies at point-of-sale, simplifying management’s ability to immediately identify and resolve any Store-to-State inventory reporting issues. ezGreen’s Point-of-Sale software also eliminates the need for manual data entry when reporting information to Metrc. As retailers or dispensaries accept inbound product information on their Metrc portal, the ezGreen information system is activated, automatically batching and labeling every product prior to sale. This seamless data exchange delivers complete compliance ensuring that products sold are reported referencing their corresponding product label tracking information versus other standard inventory tracking methods. For state’s tracking workflows that do not allow integration ezGreen provides its users the ability to generate or request custom reports, which eliminates further manual entry in Metrc or any other state tracking system.

About Metrc
First deployed in 2013 Metrc is a web-based solution made up of a browser interface and a mobile application for both the industry and regulatory users that provides end to end tracking and tracing of marijuana plants and products.  The backend is a series of secure Web Services, Database and an Application Programming Interface (API). This solution was specifically designed for government agencies in charge of legalized marijuana enforcement. Metrc provides the necessary visibility for adherence to rules, regulations and statues. Currently Metrc is contracted by the following states, Alaska, California, Colorado, Oregon, Maryland, Michigan, Ohio, Massachusetts, Montana, Nevada, Louisiana and Washington D.C.

For additional information visit https://www.metrc.com .

About ezGreen Compliance
ezGreen Compliance, located in Fort Lauderdale FL, provides through its ezGreen software technology, a proven state-of-the-art enterprise compliance and Point-of-Sale software solution for licensed medical cannabis dispensaries and cultivators. Navigating through state-by-state license, tax and compliance issues has been challenging for the legal cannabis industry. ezGreen Compliance helps its customers comply with both the Health Insurance Portability and Accountability Act (“HIPAA”) and State Laws by ensuring patients’ confidential data is being handled properly, helping to protect from possible security breaches and financial and criminal liability resulting from potential violations. For more information around a HIPAA compliance strategy for the Cannabis industry, please visit www.ezgreencompliance.com.

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.

For additional information visit www.fincannacapital.com and 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

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 market for, and effectiveness of, ezGreen software, the ability of ezGreen Compliance to expand operations and generate sales and revenues, 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.

Click here to connect with FinCanna Capital Corp. (“FinCanna”) (CSE:CALI), (OTCQB:FNNZF) for an Investor Presentation. 

Source: www.globenewswire.com

Cannabis Market Update: Q3 2020 in Review

Click here to read the previous cannabis update.

During the first few months of investment time in 2021, cannabis faced some volatility alongside optimism about federal changes in the most important market for the drug.

The cannabis business found its stride during Q1 thanks to policy change signals and consolidation.

To find out more, the Investing News Network (INN) asked experts about progress in the market during the first major period of the new year, and which developments investors should watch out for.

 

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Cannabis market update: New York and US potential boost operations

New York state’s legalization of recreational cannabis was a huge Q1 announcement that added pressure to the federal government when it comes to cannabis policy, said George Mancheril, co-founder and CEO of Bespoke Financial, a debt financing business with a particular focus on servicing cannabis businesses.

“It’s going to add to the chorus of voices in the federal scene to basically move sooner rather than later,” he explained to INN.

Following the US election in 2020, the momentum for cannabis businesses went on the upswing, as did company valuations, with the idea of expansion at the heart of it all, according to Mancheril.

Before starting Bespoke Financial, Mancheril learned from traditional investment banks, where he worked on lending, fixed income and debt markets with Goldman Sachs (NYSE:GS) and Guggenheim Partners.

Nawan Butt, portfolio manager with Purpose Investments, agrees with Mancheril. The financial expert told INN the ongoing legalization process seen in the US market is leading to expansion.

“It’s becoming more of a national move, then small pockets of proliferation. That’s very exciting about cannabis right now,” said Butt, who co-manages the Purpose Marijuana Opportunities Fund (NEO:MJJ).

This proliferation effect is causing a change in valuations and enthusiasm for US-based operations. Mancheril told INN that by the end of Q1, multi-state operators (MSOs) had raised approximately US$3.3 billion.

The cannabis lender said he sees the industry as having grown from the woes of 2019; it is now seeing a return to form by way of the excitement for an ongoing opening process in the US.

The expert explained that there is likely to be a windfall of capital in the wake of major federal changes for cannabis policy, although the timeline for these changes is becoming increasingly hard to predict.

Leading up to that capital influx, Mancheril said he wants to see operators really drill down on the value of desired assets and whether they make sense.

 

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“What I’d hope is that we continue to see bullish sentiment, but with some measure of responsibility, and let’s not just get over ahead of ourselves,” Mancheril told INN. “The idea is let’s minimize the volatility and continue growing responsibly.”

As far as struggles go, Butt explained that the cannabis industry has cemented itself as a growth-type sector, and as such there are macro environment pressures affecting the way these assets operate.

“We’ve seen this preference for cash flows at growth in the current or in the near future, rather than in the far future, and that’s what we’re seeing as far as valuations go in the broad market,” Butt said.

Cannabis market update: Volatility continues to rule as industry foundations build

Despite the industry’s current potential and the growing pains it has gone through as a whole in both the US and Canada, volatility remains a key factor in the cannabis investment scene.

Butt explained that the current shareholder base, which is dominated by hedge funds and retail investors, still lacks enough institutional support to avoid the day-to-day volatility cannabis has come to be known for.

These two investor groups, Butt said, can be easily spooked and excited by the news of the day when it comes to their investments.

“A lot of these institutions’ strategies are not about short-term profits, but they’re about long-term sustainability of the businesses themselves,” Butt said.

“That’s why you see a lot of volatility in the space, and that’s essentially what we’ve seen over the past, I’d say, three to two months as well,” he added.

That means investors shouldn’t expect an end to volatility anytime soon.

“It’s not about whether we continue to expect volatility, because we do,” Butt said. “We really think that the volatility will be taken out when the shareholder base becomes more institutional, but it’s really about understanding why there is volatility in the first place.”

Cannabis market update: Canadians talk up US business potential, but questions remain

A surge of mergers and acquisitions has taken over the Canadian cannabis sector recently as more producers see potential in America.

One of the biggest announcements in this regard came when Organigram Holdings (NASDAQ:OGI,TSX:OGI) secured a C$221 million investment deal from British American Tobacco (NYSE:BTI,LSE:BATS).

Using the funds, the two will work in tandem to develop new branded products designed to work on the international stage, including in the US. Organigram CEO Greg Engel previously told INN that the US represents a critical opportunity for Canadian companies, but the entry point isn’t as clean as it could be at the moment.

 

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While the long-term potential may be exciting for investors, Butt told INN he’s still unsure how the approach will work for Canadian companies.

The Purpose Investments expert said there will be plenty of space for the biggest Canadian names to pursue US market entries, beyond the initial hemp-derived CBD moves some operators have mde, since the US represents the biggest market in the world.

“But there’s just way too many unknowns right now to say exactly what that participation is going to look like, or when that participation will happen,” he said.

“What we do know is that currently the US MSOs are in a wonderful sort of position to expand on their market leadership that they have. And it will be tough for Canadians to come in and compete with them,” Butt said.

Canadian players still retain the upper hand at times in terms of valuation, which is confusing for both Butt and Dan Ahrens, chief operating officer and portfolio manager at AdvisorShares.

“The performance in quarterly earnings of US companies has been rather spectacular. They’ve knocked it out of the park in most instances,” Ahrens told INN.

Butt praised the recent performance reports from MSOs across the board, pointing to year-over-year growth lines and projections for continued positive performance.

In his view, share prices still don’t reflect company value. “Those are really being discounted at this point,” Butt told INN.

“We’ve seen the Canadian licensed producers be really hot stock performance-wise, outpacing the US (MSOs), and I’ll say it’s rather nonsensical to me,” said Ahrens, who oversees the AdvisorShares Pure Cannabis ETF (ARCA:YOLO) and the recently launched AdvisorShares Pure US Cannabis ETF (ARCA:MSOS).

Cannabis market update: Investor takeaway

The cannabis investment proposition finds itself at an interesting moment in time, as the entire sector eagerly awaits confirmation in the US at the federal level.

While for the Canadians waiting on the sidelines, this development may feel like a major necessity to address current financial struggles, for US-based operators, the heat around the corner could represent an increase to their already thriving operations.

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All interested parties can join the conference call by dialing 1-888-231-8191 or 1-647-427-7450, conference ID: 4880609. Please dial in 15 minutes prior to the call to secure a line. The conference call will be archived for replay until May 20, 2021 . To access the archived conference call, please dial 1-855-859-2056 and enter the encore code 4880609.

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Appointment of Dr. Kelmendi, Assistant Professor of Psychiatry at Yale University and co-founder of the Yale Psychedelic Science Group, brings another experienced medical professional to Lobe’s advisory team.

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce the appointment of Benjamin Kelmendi, MD, Assistant Professor of Psychiatry at Yale University School of Medicine, to its Scientific Advisory Board.

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Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or ” Ayurcann “), a Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, is pleased to unveil further details of its Phase 2 expansion plans.

Ayurcann has commenced trading on the Canadian Securities Exchange (” CSE “) on April 8, 2021 and subsequently announced a private placement of up to $500,000 (” Financing “), as per the Company’s press release dated April 12, 2021. The proceeds of the Financing are intended to be used to further pursue Phase 2 of the expansion of the production capacity of the Company’s Pickering facility.

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