NetworkNewsWire Announces Publication on Anticipated Demand as Canada Prepares for Legalization of Recreational Marijuana
NEW YORK, NY--(Marketwired - Nov 15, 2017) - NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring ABcann Global Corp. (OTCQB: ABCCF) (TSX VENTURE: ABCN), a globally licensed, cost efficient producer of premium quality organic standardized medicinal cannabis and one of the earliest licensed Canadian medical marijuana producers.
The publication, titled, "Canadian Licensed Producers Prepare for Recreational Cannabis Legalization, Expect Significant Growth in Demand," highlights the anticipated surge in demand for cannabis products when recreational marijuana becomes legal in Canada mid-2018, and the responsibilities licensed growers have in the booming industry.
To view the full publication, visit: https://www.networknewswire.com/canadian-licensed-producers-prepare-recreational-cannabis-legalization-expect-significant-growth-demand/
"...the Canadian government has relaxed its licensing approval process, and established growers such as ABcann Global Corp. (OTCQB: ABCCF) (TSX.V: ABCN) have a head start. Focused on producing premium quality organic standardized medicinal cannabis, ABcann (ABCCF Profile) has developed a proprietary computerized system to control marijuana growing, which enables it to replicate the cultivation environment of any geographical location in the world. This level of control guarantees a consistent product of superior quality that is repeatable from batch to batch, something that is demanded by both physicians and patients. The company's innovative system uses controlled lighting, organic fertilizers and soil media to deliver natural, safe products at high yields. Through strict environmental control of temperature, humidity and water, ABcann is able to eliminate the need for pesticides, which can taint supply.
"Cultivation requires capital, and with $40 million in the bank, ABcann is especially well-positioned to increase its production capabilities. A hefty portion of this cash is from a $30 million investment with Cannabis Wheaton (OTCQB: CBWTF) (TSX VENTURE: CBW) to fund the construction of additional ABcann production facilities. ABcann currently operates a licensed 14,500-square-foot Vanluven facility located in Napanee, Ontario, and the company is gearing up to break ground on its new 150,000-square-foot Kimmet facility in Napanee. Even with the new facility, ABcann has plenty of wiggle room, as it also owns 65 acres of land for future development with full infrastructure already in place, which will be able to accommodate another growing facility estimated at 1.2 million square feet."
About ABcann Global Corporation
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. For more information, visit www.ABcannGlobal.com.
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information please visit https://www.NetworkNewsWire.com
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
New York, New York
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