QualityStocksNewsBreaks – FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) Enters Restructured Agreement with Cultivation Technologies Inc.
FinCanna Capital (CSE: CALI) (OTCQB: FNNZF), a royalty company for the U.S. licensed medical cannabis industry, this morning announced that it has agreed to a restructured agreement (“RA”) with Cultivation Technologies Inc. (“CTI”) due to CTI’s re-focused business strategy towards extraction, manufacturing, and brand development. Per the agreement, CTI will pay FinCanna approximately $3.9 million as repayment of CTI’s outstanding secured loan. FinCanna will also receive payments equal to 3.44% of the consolidated topline revenue of CTI in perpetuity. CTI recently entered into a sale escrow agreement for $4 million for its 6-acre property in Coachella, California which is expected…