OTTAWA, Aug. 02, 2017 (GLOBE NEWSWIRE) -- Further to their joint news release dated July 10, 2017,
ABcann Global Corporation (TSX.V:ABCN) (Frankfurt:23Q) (OTCQB:ABCCF) (“ABcann”) and
Cannabis Wheaton Income Corp. (TSX.V:CBW) (“Cannabis Wheaton” or “CW”) are
pleased to announce completion of CW’s purchase of $15 million of ABcann common shares at an agreed upon valuation of $2.25 per
share (the “Initial Investment”). The Initial Investment forms part of a larger phased investment by Cannabis
Wheaton to fund an additional 50,000 square feet at ABcann's second production facility. The joint expansion is in addition to
ABcann's current construction plans for a 100,000 square foot purpose built facility, with both being located on ABcann’s 65 acre
Kimmett property in Napanee, Ontario.
Chuck Rifici, Chief Executive Officer of Cannabis Wheaton, commented: “Completing this investment marks a
historic day for our team. We are excited to move one step closer to unlocking the stream of ABcann cannabis and adding their
incredible product to our platform. Cannabis Wheaton is a catalyst for change in the cannabis industry and this investment
represents the beginning of it.”
Aaron Keay, Chief Executive Officer of ABcann, remarked: “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. 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.”
About ABcann Global Corporation (TSX.V:ABCN) (Frankfurt:23Q) (OTCQB:ABCCF)
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. ABcann is pursuing opportunities in Germany, Australia and other
jurisdictions as well as exploring the development of multiple delivery vehicles.
Stay Connected
For further information about ABcann Global and our management team, please visit: http://www.abcannglobal.com, or contact Aaron Keay (aaron@abcannglobal.com) or Leo Karabelas (416) 543-3120 or leo.k@abcannglobal.com).
About Cannabis Wheaton Income Corp. (TSX.V:CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our
streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP
applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial
support and sharing our collective industry experience.
Stay Connected
For more information about Cannabis Wheaton and our management team, please visit: http://www.cannabiswheaton.com, or follow us on Twitter @CannabisWheaton. Call: 1-604 687 7130
Email: Mario@skanderbegcapital.com http://www.skanderbegcapital.com.
Forward-Looking Information
This news release contains certain “forward-looking information” within the meaning of applicable Canadian
securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that
certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing
the conclusions or making the projections contained in the forward-looking information throughout this news release.
Forward-looking information includes, but is not limited to: the ability to generate revenue through the streaming agreements, the
ability to consummate transactions which are currently in discussions, requirements to obtain additional financing, timeliness of
government approvals for granting of permits and licences, including licences to cultivate cannabis, completion and size of the
Kimmett facility, regulatory or political change, competition and other risks affecting the Company in particular and the medical
cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the
information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking information. Neither ABcann nor CW is under any
obligation, and expressly disclaims any intention or obligation, to update or revise any forward -looking information, whether as a
result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
