NetworkNewsBreaks – ABcann Global Corporation (T
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Posted On: 08/02/2017 5:07:01 PM
NetworkNewsBreaks – ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) Announces Close of $15 Million Investment from Cannabis Wheaton
ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) this morning announced the completion of Cannabis Wheaton Income Corp.’s (TSX.V: CBW) previously detailed purchase of $15 million of ABcann common shares at an agreed upon valuation of $2.25 per share. “We are pleased to have completed the initial funding phase of our partnership with Cannabis Wheaton and to welcome them as new equity holders in ABcann,” Aaron Keay, chief executive officer of ABcann, stated in the news release. “The initial investment represents Cannabis Wheaton’s first funding allocation and we look forward to future investment from them, as both companies advance our respective businesses.” Per the update, this initial investment forms part of a larger phased investment by Cannabis Wheaton that’s expected to fund an additional 50,000 square feet at ABcann’s second production facility. This expansion comes alongside ABcann’s existing construction plans for a 100,000 square foot purpose built facility at its Kimmett property in Napanee, Ontario.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) this morning announced the completion of Cannabis Wheaton Income Corp.’s (TSX.V: CBW) previously detailed purchase of $15 million of ABcann common shares at an agreed upon valuation of $2.25 per share. “We are pleased to have completed the initial funding phase of our partnership with Cannabis Wheaton and to welcome them as new equity holders in ABcann,” Aaron Keay, chief executive officer of ABcann, stated in the news release. “The initial investment represents Cannabis Wheaton’s first funding allocation and we look forward to future investment from them, as both companies advance our respective businesses.” Per the update, this initial investment forms part of a larger phased investment by Cannabis Wheaton that’s expected to fund an additional 50,000 square feet at ABcann’s second production facility. This expansion comes alongside ABcann’s existing construction plans for a 100,000 square foot purpose built facility at its Kimmett property in Napanee, Ontario.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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