ABcann Global Corp. (TSX.V: ABCN) (OTCQB: ABCCF) Scaling Up to Meet Impending Spike in Cannabis Demand
Ever at the forefront of Canada’s cannabis market, ABcann Global Corp. (TSX.V: ABCN) (OTCQB: ABCCF) was among the very first companies to obtain a cannabis production license in that country and has since been working to change the face of medical cannabis—both in Canada and globally. ABcann’s group of companies is working toward the aim of becoming the first cannabis pioneers to produce repeatable, standardized, plant-based medicines around the world.
Every variable of ABcann’s cannabis growing, curing and harvesting process is computer-monitored and controlled. This high-tech indoor growing environment consistently yields a superior product that is clean, steady and repeatable—something desired by every doctor and patient.
Though medical marijuana has been nationally legal in Canada since 2001, the requirements and process for growers to obtain licenses are very stringent, resulting in only about three percent of applying cannabis growers successfully obtaining a license. Canada’s government is also now working toward federally legalizing recreational marijuana, and, as discussed in a recent article (http://nnw.fm/dzT44), this push, coupled with the dearth of licensed growers, could eventuate in a nationwide cannabis shortage as production fails to keep pace with demand. ABcann is scaling up its operations in anticipation of this supply dearth.
There are currently, according to data from the Government of Canada (http://nnw.fm/L7yXs), only 62 licensed cannabis growers in the entire country. With blanket legalization looming on the horizon, demand is sure to increase, and ABcann is well-positioned to profit.
Focused on scaling its operations and distinguishing itself through its proprietary organic and pesticide-free growing technology, ABcann has been making strategic strides in recent months. The company recently announced the receipt of $11.9 million in proceeds from the exercise of warrants. Combined with a previous investment from Cannabis Wheaton Income Corp., this brought ABcann’s cash position to about $45 million, and, in the coming months, the company intends to deploy capital toward expanding its existing Vanluven facility and in developing and constructing its new Kimmett facility. The company will further pursue international expansion plans.
Led by an experienced management team and advisory board, ABcann boasts an impressive production yield that has put it at the vanguard of this highly competitive market.
For more information, visit the company’s website at www.ABcann.ca
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