In the article, “ABcann Global (TSX.V: ABCN) (OTCQB: ABCCF), Now Worth $2 Billion, Is Canada’s Largest Licensed Producer of Medical Marijuana”, issued Monday, October 16, 2017, please be advised that the title of the article had inaccurate information and is now revised to say, “ABcann Global (TSX.V: ABCN) (OTCQB: ABCCF) is One of Canada’s Leading Licensed Producers of Medical Marijuana.” Additionally, the first paragraph had inaccurate information and is now revised to say, “The Canadian medical marijuana market is strong and Ontario-based ABcann Global has done well to stand out from its neighbors with a 14,500-square-foot facility in Napanee, a 71,000-square-foot facility under construction (plus future expansion plans on 65 acres), and environmentally controlled production processes.” Complete corrected text follows:
- Canada’s leading medical cannabis producer is building a 71,000 square foot facility and plans to expand on 65 acres of company-owned land
- Environmentally controlled production ensures all plants and batches are consistent, safe, and pesticide-free
- ABcann has not had any product recalls and its experience is attracting investors from across the Canadian medical marijuana industry
The Canadian medical marijuana market is strong and Ontario-based ABcann Global has done well to stand out from its neighbors with a 14,500-square-foot facility in Napanee, a 71,000-square-foot facility under construction (plus future expansion plans on 65 acres), and environmentally controlled production processes.
Computer-controlled environmental growing systems used by ABcann have enabled it to guarantee quality and precision. Organically grown in small batches, its product is chemical- and pesticide-free. A recent NBC4 investigation in Los Angeles revealed pesticides, including those containing hydrogen cyanide, may be present in marijuana (http://cnw.fm/8xckR). This compound is poisonous and an airborne concentration of 100-200 ppm can kill a person in as little as 10 minutes; a 2,000 ppm hydrogen cyanide concentration can kill someone in a minute, according to the International Cyanide Management Code. The State Department of Agriculture in Colorado found that 49 percent of cannabis samples tested positive for unapproved pesticides last year; as of early August 2017, 13 percent did.
Rather than use risky pesticides, ABcann grows cannabis in a tightly controlled environment. Temperature, humidity, carbon dioxide, water, and nutrients are managed to prevent disease and maximize growth. The process also boosts consistency from plant to plant, and from batch to batch. This level of expertise is evidence the company deserves its spot at the top. Another contributor is its reputation. While many other producers have had product recalls, ABcann has not had a single one to date, which was recently highlighted in a news release (http://cnw.fm/GbCL8) along with its 94.7 percent customer retention rate and strong leadership.
The company has also been able to keep up with demand. By the end of 2016, Health Canada reported 130,000 Canadians signed up with 38 licensed producers. The number was triple that of the year before. Able to produce 250 grams of cannabis per square foot annually, ABCCF is in a position to address the demand and use the production bottleneck as an opportunity, as was noted in a recent article (http://cnw.fm/9JNqv).
Investors siding with the company have reason to be optimistic. Marijuana will soon be legal for medical and recreational use in Canada, yielding a market that Deloitte predicted in 2016 could be worth $18 billion per year. Given its experience in the market, ABcann is attractive to investors who may be weary of companies just starting out, or that have struggled to obtain licensing. The longevity of its presence and reputation is notable, as is its strong financial position.
Learn more about ABcann Global at www.abcann.ca.
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