ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) this morning provided an update on its construction and expansion timelines for its Vanluven and Kimmett facilities, both of which are located in Napanee, Ontario. Per the update, ABcann’s plans to commence construction 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. Additionally, the company has initiated immediate expansion and construction efforts at its current production facility at Vanluven with the goal of doubling production capacity in order to better service its growing patient base. “ABcann’s strong cash position from its go public transaction, subsequent warrant exercises and recently announced equity financing for $2.25 per share has positioned the Company to aggressively expand our production capacity at both Vanluven and Kimmett,” Aaron Keay, CEO and director of ABcann, stated in the news release. “The imminent expansion plans and decision to expand our Phase 1 construction plans at Kimmett are in line with ABcann’s corporate strategy to take advantage of the current domestic demand for a high quality standardized pesticide free product, in addition to becoming a strong competitor in a number of the emerging markets internationally.”
To view the full press release, visit http://nnw.fm/3BfyA
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
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