ABcann Global Corporation (TSX-V:ABCN) ("ABcann"
or the "Company") is pleased to announce that it has amended and
extended the research contract currently in place between its
Canadian operating subsidiary, ABcann Medicinals Inc., and the
University of Guelph, of Guelph, Ontario.
The agreement, which dates back to January 1,
2015, has been extended to December 31, 2018, with the option to
extend if mutually agreed upon. The research is focused on
Controlled Environment Production of Medicinal Cannabis and is
being conducted at the Controlled Environment Systems Research
Facility (CESRF) under the direction of Dr. Michael Dixon at the
University of Guelph. A portion of the research is also being
conducted within ABcann’s research lab in Napanee which has been
dedicated solely to the University of Guelph studies.
The multi-year research program is focused on a
number of projects designed to enhance the ABcann process in terms
of control, yield, quality and flexibility. Included are projects
related to organic nutrient delivery and uptake, propagation
protocols, optimizing controlled growth under different lighting
configurations, and irrigation management strategies.
The $1.4 million project “has already yielded
results which have been incorporated into our growing systems,”
says Ken Clement, founder and Executive Chairman of ABcann, “and we
fully expect to see further results which will give us a
significant advantage over our competition. We have
benefitted greatly from having the researchers and graduate
students working with our team and we value our close working
relationship with Dr. Dixon and his group.”
“ABcann has pursued a unique approach to
controlled environment production of cannabis designed to
standardize the production and quality of medical compounds,” says
Dr. Mike Dixon, Director of the CESRF at Guelph. “Our research
program in collaboration with ABcann represents a systematic and
comprehensive approach to the development of the most sophisticated
production technology in this industry sector.”
ABcann is also pleased to announce the exercise
of 9,241,766 warrants for gross proceeds of $5,729,894. The
warrants were originally issued in connection with private
placements undertaken by ABcann Medicinals Inc. in 2014 and
2015.
About the Controlled Environment Systems Research
Facility (CESRF):
ABcann has had a collaborative relationship with
the CESRF since ABcann’s early development stages. The CESRF
research group is led by Dr. Michael Dixon, project leader for the
Canadian research team investigating the contributions of plants to
life support in space. Dr. Dixon formed the Space and Advanced Life
Support Agriculture (“SALSA”) program at the University of Guelph.
The SALSA program currently represents Canada’s prime contribution
to the International Space program objectives in life support.
The CESRF provides a complete research venue
suitable for measurement of plant growth, gas exchange, volatile
organic compound (“VOC”) evolution, and nutrient remediation in a
precisely controlled environment. The CESRF is comprised of 24
sealed environment chambers, including 14 variable pressure plant
growth hypobaric chambers capable of sustaining a vacuum. The CESRF
personnel have extensive experience in the fields of plant
physiology, environment analysis and sensor technology. ABcann’s
Vanluven Facility also has a room dedicated to the University of
Guelph for CESRF’s experiments using cannabis. The CESRF team
assisted ABcann in developing the controlled growth environment
systems currently being used at the Vanluven Facility.
About ABcann Global Corporation
(TSX.V:ABCN):
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 expanding capacity in its current
facility to approximately 30,000 sq ft and concurrently undertaking
expansion into a new 150,000 sq ft facility in Napanee. ABcann is
pursuing opportunities in Germany, Australia and other
jurisdictions as well as exploring the development of multiple
delivery vehicles.
ON BEHALF OF THE BOARD OF
DIRECTORS
"Aaron Keay"
Aaron Keay CEO and Director
For further information, please contact Aaron
Keay by phone at (604) 323-6911 or by email at
aaron@abcannglobal.com, or Leo Karabelas by phone at (416) 543-3120
or by email at leo.k@abcannglobal.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are
forward-looking statements, which are statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Forward
looking statements in this news release include statements relating
to: the duration of CESRF agreement, the expected benefits that the
Company and its business will realize as a result of the extension
of the CESRF agreement; and the scope of the Company’s proposed
expansions at its Vanluven and Kimmett facilities. Such statements
are subject to risks and uncertainties that may cause actual
results, performance or developments to differ materially from
those contained in the statements, including: (i) changes to
applicable legislation or regulatory requirements; (ii) changes to
the anticipated costs of the expansions that require the Company to
obtain additional capital or modify its development plans; (iii) a
change in the relationship between the Company and CESRF; and (iv)
other factors beyond the Company's control. No assurance can be
given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. Readers are urged to consider these
factors, and the more extensive risk factors included in the
Company’s filing statement dated March 31, 2017 which is available
on SEDAR, carefully in evaluating the forward-looking statements
contained in this news release and are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by these cautionary statements. The forward-looking
statements in this news release are made as of the date hereof and
the Company disclaims any intent or obligation to update publicly
any such forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
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