HempNewsBreaks – ABcann Global Corp. (TSX.V: ABCN) (OTCQB: ABCCF) Inks LOI to Acquire Outstanding Shares of Harvest Medicine Inc.

Abcann Global (TSX.V: ABCN) (OTCQB: ABCCF) this morning said that the company recently entered into a binding Letter of Intent (“LOI”) dated December 11, 2017 to acquire all outstanding securities of Canada’s fastest growing medical cannabis clinic, Harvest Medicine Inc. Per the terms of the agreement, Abcann will make a $1,500,000 cash payment and issue 1,056,338 common shares in the capital of ABcann valued at $1,500,000, based on a deemed price of $1.42 per share. Upon the closing of the transaction, Harvest Medicine founder and CEO, Shekhar Parmar, is anticipated to join ABcann’s executive team as Chief Strategy Officer and remain CEO of Harvest Medicine. “Their professional, patient-focused approach is aligned with ABcann’s philosophy of quality and innovation. This represents one initial step of many as we begin the execution of our aggressive growth strategy,” ABcann CEO Barry Fishman stated in the news release.

To view the full press release, visit http://cnw.fm/t3HwB

About ABcann Global Corp.

ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centered on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pharmaceutical-grade cannabis products. The company is expanding its cultivation capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel. For more information, visit www.ABcannGlobal.com.

More from CannabisNewsBreaks

• HempNewsBreaks – Turning Point Brands Inc. (NYSE: TPB) Closes $300M Senior Secured Notes Offering 
• HempNewsBreaks – WEED Inc. (BUDZ) Announces 2024 Highlights, Plans to Expand into Consumer Packaged Goods
• HempNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Closes $3.6M Registered Direct

About HempWire

HempWire (HW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) HempNewsBreaks 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, HW 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. HW 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, HW brings its clients unparalleled visibility, recognition and brand awareness. HW is where news, content and information converge.

For more information please visit https://www.hempwire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/disclaimer/

HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net