ABcann Global Corporation (TSXV: ABCN) this morning announced that it has amended and extended the research contract currently in place between its Canadian operating subsidiary, ABcann Medicinals Inc., and the University of Guelph in Ontario, Canada. The agreement, which is focused on controlled environment production of medicinal cannabis, now extends to December 31, 2018, and offers an option to extend further if mutually agreed upon. “ABcann has pursued a unique approach to controlled environment production of cannabis designed to standardize the production and quality of medical compounds,” Dr. Michael Dixon, director of the Controlled Environment Systems Research Facility at the University of Guelph, stated in this morning’s news release. “Our research program in collaboration with ABcann represents a systematic and comprehensive approach to the development of the most sophisticated production technology in this industry sector.” In addition to news related to this partnership, ABcann this morning announced the exercise of 9,241,766 warrants for gross proceeds of $5,729,894. The warrants were originally issued in connection with private placements undertaken by ABcann Medicinals Inc. in 2014 and 2015.
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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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