- An early mover in the Canadian cannabis space
- Serving Canada’s most populous province
- New funding deal signed for $15 million at $2.25 per share
As befits its status as a first mover in the Canadian cannabis space, ABcann Global Corp. (TSX.V: ABCN) (OTCQB: ABCCF) is racing ahead with plans to supply the medical marijuana needs of Canada’s most populous province. Construction plans at its Kimmett facility in the third quarter of 2017 remain on schedule, and the previously announced plans for a 71,000 square foot phase 1 project have been expanded to 100,000 square feet. The company recently signed a funding deal that prices the business well above market valuation. It appears that ABcann is one MMJ outfit that the smart money is betting on.
ABcann was one of the earliest players to apply for a cannabis grower’s license in Canada, which was granted in March 2014, well before the current Access to Cannabis for Medical Purposes Regulations (ACMPR) were implemented on August 24, 2016. That early start has advanced ABcann much further along the learning curve than subsequent licensees. In addition, having worked in collaboration with the University of Guelph in Ontario, Canada, to study the growing process, ABcann’s expertise is superior to most other LPs. It has developed state-of-the-art growing technology that produces…
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