ABcann Releases High Level CBD Product and Launches Initial Oils Strategy
28 August 2017 - 7:30PM
ABcann Global Corporation (TSX-V:ABCN) (“ABcann”
or the “Company”) is pleased to announce the release of one of
Canada's highest legal CBD:THC (cannabidol:tetrahydrocannabinol)
ratio products available on the market by its wholly-owned
subsidiary, ABcann Medicinals Inc.
The release of CBD-Med is part of the Company's
strategy to provide a diverse range of products as it formally
initiates the process to begin selling oils. CBD-Med has a ratio of
27.6:1 (18.5% CBD to 0.67% THC), putting the product into a very
select class as one of Canada's highest CBD products under Health
Canada regulations.
In addition to formally offering this product
line to its patient base, ABcann is anticipating being able to sell
oils in October as it continues to diversify its product lines.
Products that ABcann will have available for patients are expected
to include a 1-1 THC/CBD drop, a high THC dropper and a high CBD
dropper.
This new high CBD product is in addition to
ABcann's current high CBD products: NC:Med - 18.9:1 (18.9% CBD to
1% THC) and DC:Med - 15.4:1 (15.4% CBD to 1% THC).
ABcann will be able to release additional
product details shortly regarding the formulations of capsules and
soft gels.
"The development of these products is in line
with ABcann's corporate strategy as a premium product provider of
organic, pesticide free cannabis," says Ken Clement, Executive
Chairman of ABcann. "As the Company continues to scale production
capacity, our product line will expand as we strive to increase
shareholder value through capturing a larger market share of the
current global medical markets."
"ABcann will continue to advance our core
businesses and subsidiaries as production capacity continues to
increase through our aggressive construction and expansion plans,"
says Aaron Keay, Chief Executive Officer of ABcann. "The
construction timelines at both of our locations position ABcann to
become a strong competitor in the existing global medical market
and to take advantage of the emerging adult consumer market that is
expected to emerge in 2018.”
ABcann's reputation as one of the highest
quality, pesticide free, standardized products available today
received further validation as the Company has completed its ISO
9001 audit by BSI Group Canada and has been recommended for
certification. ABcann remains committed to providing the best
growing technique and product standards in the industry. The
Company continues to operate under one of the highest quality
assurance programs in the world, which includes voluntary external
third party testing through RPC, a laboratory services provider in
New Brunswick, Canada.
About ABcann Global Corporation
(TSX-V:ABCN):
ABcann Global Corporation’s wholly owned
subsidiary, ABcann Medicinals Inc., 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 utilizes 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 its current
facility to approximately 30,000 sq ft and concurrently undertaking
its 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 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 expected timing of release of the Company’s new CBD
product; other expected new products and expected timing of release
of same; ABcann's ability to increase shareholder value; ABcann’s
ability to substantially expand its production capacity at both its
Vanluven and Kimmett locations; ABcann’s ability to significantly
increase production capacity in 2018 while pursuing its aggressive
construction and expansion timelines at both Vanluven and Kimmett;
ABcann’s ability to increase the sales of its premium, organically
grown, pesticide free cannabis products in the current domestic
market; ABcann’s ability to distribute globally in the emerging
markets it has targeted; and ABcann’s ability to serve the
anticipated adult consumer market in 2018 as a result of its
ability to serve larger and broader markets. 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) that production or
other delays may delay the timing of release of the Company’s new
products; (ii) that ABcann may not be able to substantially expand
its production capacity at both its Vanluven and Kimmett locations;
(iii) that ABcann may not be able to significantly increase
production capacity in 2018 while pursuing its aggressive
construction and expansion timelines at both Vanluven and Kimmett;
(iv) that ABcann may not be able to increase the sales of its
premium, organically grown, pesticide free cannabis products in the
current domestic market; (v) that ABcann may not be able to
distribute globally in the emerging markets it has targeted; (vi)
that ABcann may not be able to serve the anticipated adult consumer
market in 2018; (vii) that ABcann may not be able to serve larger
and broader markets as a result of its production increase; and
(viii) 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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