August 28th, 2017
News, Top News
OTTAWA, Aug. 28, 2017 (GLOBE NEWSWIRE) — ABcann Global Corporation (ABCN.V) (“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 (ABCN.V):
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
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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