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#Post#: 67178--------------------------------------------------
ABCCF
By: Clay Death Date: August 21, 2017, 11:52 am
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ABcann Goes from RTO to $43 Million in Cash in 3 Months -- CFN
Media
9:00 am ET August 3, 2017 (Market Wire) Print
SEATTLE, WA--(Marketwired - Aug 3, 2017) - CFN Media Group
("CannabisFN"), the leading creative agency and digital media
network dedicated to legal cannabis, announces the publication
of an article discussing ABcann Global Corporation's (TSX
VENTURE: ABCN) (OTCQB: ABCCF) tremendous progress from its
reverse takeover transaction in May to having $43 million in
cash now (with a market cap of about $90 million), and where the
company is headed over the coming quarters.
High Quality Product
ABcann has spent considerable resources on developing consistent
pharmaceutical-grade products that are organically grown without
pesticides. This avoids many of the recall issues that other
licensed producers have experienced involving the use of banned
pesticides. At the same time, the company's $1.5 million,
three-year investment in research and development has helped it
double industry average yields to cultivate products at a very
low cost per gram.
In a recent conversation ABcann CEO Aaron Keay said, "We have
spent years mastering our proprietary growing techniques to
avoid the use of pesticides. This has led to a repeatable,
standardized product the public can trust. Not only that, as our
reputation grows in the patients' eyes the word has spread to
where we will be expanding our business -- globally. Our
dedication to provide a pesticide free, organic, standardized
product has resulted in inquiries from industry leaders,
competitors, celebrities, and governments."
The high yields of pesticide free, standardized product are
especially important when comparing various licensed producers.
Production capacity is of course an important metric, and
ABcann's proprietary growing methods mean that the company can
get much more product out of much less space. Additionally,
sizable recalls due to pesticides have impacted several
producers' bottom lines, but ABcann removes that possibility by
using no pesticides at all.
Rapid Expansion Strategy
ABcann is investing the cash on its balance sheet into an
ambitious expansion strategy, which should limit shareholder
dilution and accelerate its growth rates. With its proprietary
growing technique, the company is in a great position to deploy
capital and production knowledge on a massive scale, while
competing on both price and quality.
On July 26, the company confirmed that plans to commence
construction at its Kimmett facility in the third quarter remain
on track and the previously announced plans for a 71,000 sq. ft.
Phase I plan have been expanded to 100,000 sq. ft. The company
also announced an immediately expansion and construction effort
at its production facility in Vanluven to double production
capacity and serve its growing patient base on an expedited
timeline.
The company believes that its $43 million cash position will be
sufficient to complete both the Phase I 100,000 sq. ft. Kimmett
facility and the expansion at Vanluven. The Vanluven expansion
should begin producing results in Q1'18, while the Kimmett
facility should come online by Q4'18. The near-term revenue from
these expansion efforts should be sufficient for financing
future expansion efforts as recreational legalization goes into
effect next year.
#Post#: 67179--------------------------------------------------
Re: ABCCF
By: Clay Death Date: August 21, 2017, 11:53 am
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ABcann and Cannabis Wheaton Announce Closing of $15 Million
Investment
5:00 am ET August 2, 2017 (Globe Newswire) Print
Further to their joint news release dated July 10, 2017, ABcann
Global Corporation (TSX.V:ABCN) (Frankfurt:23Q) (OTCQB:ABCCF)
("ABcann") and Cannabis Wheaton Income Corp. (TSX.V:CBW)
("Cannabis Wheaton" or "CW") are pleased to announce completion
of CW's purchase of $15 million of ABcann common shares at an
agreed upon valuation of $2.25 per share (the "Initial
Investment"). The Initial Investment forms part of a larger
phased investment by Cannabis Wheaton to fund an additional
50,000 square feet at ABcann's second production facility. The
joint expansion is in addition to ABcann's current construction
plans for a 100,000 square foot purpose built facility, with
both being located on ABcann's 65 acre Kimmett property in
Napanee, Ontario.
Chuck Rifici, Chief Executive Officer of Cannabis Wheaton,
commented: "Completing this investment marks a historic day for
our team. We are excited to move one step closer to unlocking
the stream of ABcann cannabis and adding their incredible
product to our platform. Cannabis Wheaton is a catalyst for
change in the cannabis industry and this investment represents
the beginning of it."
Aaron Keay, Chief Executive Officer of ABcann, remarked: "We are
pleased to have completed the initial funding phase of our
partnership with Cannabis Wheaton and to welcome them as new
equity holders in ABcann. The initial investment represents
Cannabis Wheaton's first funding allocation and we look forward
to future investment from them, as both companies advance our
respective businesses."
About ABcann Global Corporation (TSX.V:ABCN) (Frankfurt:23Q)
(OTCQB:ABCCF)
ABcann was one of the first companies to obtain a production
license under the Marijuana for Medical Purposes Regulations,
which it received on March 21, 2014. It obtained a sales license
on December 31, 2015. ABcann's flagship facility, in Napanee,
Ontario, contains proprietary plant-growing technology,
including environmentally-controlled chambers capable of
monitoring and regulating all variables in the growing process.
This approach and the systems in place allow ABcann to produce
organically grown and pesticide-free, high-yielding plants,
which, in turn, can generate high-quality products that are
consistent from batch to batch. ABcann is able to control
environmental and nutrient demands, tailor-made for a particular
strain of cannabis, without the variation that is typical when
producing large quantities in less controlled, larger rooms and
greenhouse-type structures. ABcann's modular approach to systems
technology eliminates scale-up risk and allows ABcann to locate
anywhere in the world and maintain consistency and quality of
product. ABcann is pursuing opportunities in Germany, Australia
and other jurisdictions as well as exploring the development of
multiple delivery vehicles.
#Post#: 67180--------------------------------------------------
Re: ABCCF
By: Clay Death Date: August 21, 2017, 11:54 am
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ABcann Global Provides Construction and Expansion Update
7:04 am ET July 26, 2017 (Globe Newswire) Print
ABcann Global Corporation (TSX-V:ABCN) (Frankfurt:23Q)
(OTCQB:ABCCF) (the "Company") is pleased to provide an update on
the Company's construction and expansion timelines for its
Vanluven and Kimmett facilities, both located in Napanee,
Ontario.
ABcann confirms that plans to commence construction at the
Company's Kimmett facility in Q3 2017 remain on track, and the
previously announced plans for a 71,000 square foot Phase 1 plan
have been expanded to 100,000 square feet. In addition to the
Kimmet construction plans, ABcann has initiated immediate
expansion and construction at its current production facility at
Vanluven to double production capacity and service the Company's
growing patient base on an expedited timeline.
ABcann's current cash position is approximately $43 million,
which the Company expects will be sufficient to complete both
the Phase 1 100,000 square foot construction at Kimmett and the
expansion at Vanluven.
"ABcann's strong cash position from its go public transaction,
subsequent warrant exercises and recently announced equity
financing for $2.25 per share has positioned the Company to
aggressively expand our production capacity at both Vanluven and
Kimmett," said ABcann CEO and director, Aaron Keay. "The
imminent expansion plans and decision to expand our Phase 1
construction plans at Kimmett are in line with ABcann's
corporate strategy to take advantage of the current domestic
demand for a high quality standardized pesticide free product,
in addition to becoming a strong competitor in a number of the
emerging markets internationally."
The Kimmett facility will be constructed on a 65 acre property
(
HTML http://www.abcannglobal.com/Kimmet-Facility.php)
that is
wholly-owned by the Company and located very close to ABcann's
existing Vanluven production facility in Napanee. Our existing
acreage provides ABcann the opportunity to continue expansion
post Phase 1 construction of up to 1,200,000 square feet of
production space. Additional updates and timelines with respect
to the Kimmett and Vanluven development plans are as follows:
-- First cultivation from the Kimmett facility is expected in Q4
2018.
-- Kimmett reaching full production capacity is expected in Q1
2019.
-- First cultivation from the expansion areas at Vanluven is
expected in Q1 2018.
-- Bird Construction Inc. will act as the General Contractor for
both the Kimmett and Vanluven projects (see "About Bird",
below).
-- NORR Engineering has been engaged to act as project engineer
(see "About NORR", below).
"ABcann has moved methodically through each stage of our growth
since first obtaining our license in 2014. Providing a high
quality standardized pesticide free product to our patients
remains our number one priority as we initiate our largest
expansion plans to date," said founder and director, Ken
Clement. "With a proprietary growing technique that is
repeatable and consistent, we are in a great position to deploy
our capital and production knowledge on a massive scale."
Since commencing trading on May 4, 2017, ABcann has received
approximately $7.0 million additional dollars through the
exercise of warrants.
About Bird:
Bird Construction Inc. ("Bird") is a national general contractor
with deep roots in Eastern Canada. Its national reach provides
its Eastern Canadian team an unprecedented experience base while
still remaining competitive in local markets.
At Bird, the values of Safety, Teamwork, Integrity, People,
Professionalism, and Stewardship are the underpinnings of
success. With more than 96 years of experience in the
construction industry, Bird's unwavering commitment to service
delivery, planning and cost-efficient construction strategies
has led to many loyal partnerships. As a leading general
contractor in Canada, Bird turns ideas into reality through
exceptional client service and value creation. Bird's resume
includes pre-construction and construction services with a long
list of new and repeat clients.
Bird has also become a key design-build and equity member of
many public-private partnership projects. With its broad market
reach, Bird's clients include leading firms in the commercial,
institutional, retail, high-rise residential, industrial,
mining, energy, defense construction and civil sectors. Since
opening its doors in 1920, Bird has undergone substantial
growth, with its employee base nearing 2,000 staff across the
country. Bird's success covers most delivery models including
Alternative Finance Projects (AFP), design-build, construction
management and conventional fixed price contracts. For more
information about Bird, see its website at: www.bird.ca.
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