FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) announced that it has closed the first tranche of the private placement announced on February 21, 2018. The Company issued 3,829,944 Units at a price of $0.70 per unit for gross proceeds of $2,680,960. The Company expects a second tranche of the Private Placement to close on a final amount within the following week.

Each Unit consisted of one common share of FinCanna and one-half of one common share purchase warrant. Each full warrant will be exercisable to acquire one common share of FinCanna at an exercise price of C$1.05 for 24 months from closing. The common share purchase warrants will be subject to acceleration at FinCanna’s discretion in the event its common shares trade on the Canadian Securities Exchange on a volume weighted average price basis of C$1.40 or more for a period of ten consecutive trading days.

All securities issued will be subject to a four-month hold period expiring on August 6, 2018.

FinCanna intends to use the net proceeds from the Private Placement to fund additional royalty investment opportunities and the Company’s ongoing working capital and general corporate purposes.

FinCanna has paid a finder’s fee of 8% on a portion of the proceeds raised from subscriptions arranged by certain finders in cash and / or warrants equal to 8% of the aggregate Units subscribed for pursuant to the subscriptions arranged by such finders. Each warrant shall be exercisable for one common share at a price of C$1.05 for a period of 24 months from closing. The lead finder in the non-brokered private placement is Triview Capital Ltd.

This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available

About FinCanna Capital Corp.

FinCanna provides financing to top-tier companies in the licensed medical cannabis industry in exchange for a royalty on revenues. FinCanna, led by a team of finance and industry experts, is building its diversified portfolio of royalty investments in scalable, best-in-class projects and companies in U.S. legal states, with a focus on California.