ABcann Goes from RTO to $43 Million in Cash in 3 Months -- CFN Media
SEATTLE, WA--(Marketwired - Aug 3, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and digital media
network dedicated to legal cannabis, announces the publication of an article discussing ABcann Global Corporation's (TSX VENTURE: ABCN) (OTCQB: ABCCF) tremendous progress from its
reverse takeover transaction in May to having $43 million in cash now (with a market cap of about $90 million), and where the
company is headed over the coming quarters.
High Quality Product
ABcann has spent considerable resources on developing consistent pharmaceutical-grade products that are organically grown
without pesticides. This avoids many of the recall issues that other licensed producers have experienced involving the use of
banned pesticides. At the same time, the company's $1.5 million, three-year investment in research and development has helped it
double industry average yields to cultivate products at a very low cost per gram.
In a recent conversation ABcann CEO Aaron Keay said, "We have spent years mastering our proprietary growing techniques to
avoid the use of pesticides. This has led to a repeatable, standardized product the public can trust. Not only that, as our
reputation grows in the patients' eyes the word has spread to where we will be expanding our business -- globally. Our dedication
to provide a pesticide free, organic, standardized product has resulted in inquiries from industry leaders, competitors,
celebrities, and governments."
The high yields of pesticide free, standardized product are especially important when comparing various licensed producers.
Production capacity is of course an important metric, and ABcann's proprietary growing methods mean that the company can get much
more product out of much less space. Additionally, sizable recalls due to pesticides have impacted several producers' bottom
lines, but ABcann removes that possibility by using no pesticides at all.
Rapid Expansion Strategy
ABcann is investing the cash on its balance sheet into an ambitious expansion strategy, which should limit shareholder
dilution and accelerate its growth rates. With its proprietary growing technique, the company is in a great position to deploy
capital and production knowledge on a massive scale, while competing on both price and quality.
On July 26, the company confirmed that plans to commence construction at its Kimmett facility in the third quarter remain on
track and the previously announced plans for a 71,000 sq. ft. Phase I plan have been expanded to 100,000 sq. ft. The company also
announced an immediately expansion and construction effort at its production facility in Vanluven to double production capacity
and serve its growing patient base on an expedited timeline.
The company believes that its $43 million cash position will be sufficient to complete both the Phase I 100,000 sq. ft.
Kimmett facility and the expansion at Vanluven. The Vanluven expansion should begin producing results in Q1'18, while the Kimmett
facility should come online by Q4'18. The near-term revenue from these expansion efforts should be sufficient for financing
future expansion efforts as recreational legalization goes into effect next year.
Please follow the link to see the interview and read the full article: http://www.cannabisfn.com/abcann-goes-rto-43-million-cash-3-months/
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About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana
businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and
brands in the US and Canada rely on CFN Media to grow and succeed.
Disclaimer:
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements
that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results,
performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory
authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging
Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions
without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be
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