ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) Looks Strong for Investors in Booming Canadian Cannabis Market
- ABcann’s low current market cap compared to similar companies offers an obvious opportunity for investors
- ABcann Global is one of Canada’s most dominant growers of medical marijuana and one of the growers to meet Canadian government’s stringent licensing requirements
- Major expansion of ABcann’s production capacity is underway
An interesting opportunity for investors can be found in ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF), a Canadian grower of medical marijuana. ABcann recently acquired ABcann Medicinals and boasts a recent IPO, appointment of a new medical consultant, and major expansion plans.
ABcann is new to the public market, having launched its initial public offering on May 4. However, the company is one of the most experienced Canadian growers. ABcann is one of Canada’s dominant medical growers, producing organically grown, pesticide-free medicinal-grade marijuana using scalable, proprietary growing technology, which allows the consistent generation of high-quality products.
The company’s low current market cap offers an obvious opportunity for investors, as ABcann compares well with other companies in the industry. For example, Supreme Pharmaceuticals has a market cap of $250 million, and Hydropothecary Corp. is valued at $150 million. Emblem Corp. – with the same size growing facility as ABcann – is valued at $200 million.
ABcann’s expansion plans are ramping up, and its proprietary, advanced growing technology is highly scalable. A new chamber is planned for the company’s current facility in Napanee, Ontario, which currently produces 1,000 kilograms annually.
In addition, land has already been purchased for a new 71,000 square-foot facility which will have a production capacity of 20,000 kilograms each year – 20 times ABcann’s current production. In further plans, a 65-acre property for a planned 1.2 million square-foot growing facility is ready for development.
One of the first companies to obtain a production license under Canadian Marijuana for Medical Purposes Regulation, ABcann acquired a license in March 2014. Only three percent of companies that apply for a license make it through the extensive six-step process, which requires a comprehensive background check and prior investment in a growing facility.
In July, ABcann announced its inclusion in the Horizons Medical Marijuana Life Sciences ETF (TSX: HMMJ). The ETF index selects companies with operations in biopharmaceuticals, medical manufacturing, distribution, and other marijuana industry services.
In June, the company announced the appointment of Dr. Michael Shannon as chief medical consultant. Shannon brings a long history of health care experience in the private and public sectors and joins an all-star management and advisory team which includes Dr. Raphael Mechoulam, a professor of medicinal chemistry at Hebrew University of Jerusalem who is widely regarded as the “Father of Marijuana Research.”
For more information, visit the company’s website at www.ABcann.ca
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer