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BRIEF: ABcann Files Q2'17 Financial Results and Provides Operational Update

August 30, 2017


  • ABcann Global Corporation (TSXV:ABCN) (OTC:ABCCF) (FRA:23Q)  released financial results for the three and six months ending on June 30th, 2017.

  • The first half of 2017 was big due to the successful completion of ABcann’s go-public transaction.

  • Subsequent to June 30th, ABcann completed an additional successful equity raise.

  • These raises position ABcann to substantially expand its production capacity at both its Vanluven and Kimmett locations.

  • ABcann now has approximately $43 MM CAD in working capital.

  • ABcann completed multiple financing transactions including a subscription receipt offering for gross proceeds of $11.8 MM CAD and a private placement of convertible debentures for gross proceeds of $15 MM CAD.

  • ABcann announced a strategic partnership agreement with Cannabis Wheaton Income Corp. (TSXV:CBW) (OTC:KWFLF) which includes a $30 MM CAD investment into ABcann, $15m of which has been completed to date. 

  • In addition, upon completion of the initial $30m equity placement, Cannabis Wheaton has the opportunity to finance a 50,000 square foot expansion facility in a 50/50 joint venture.

  • Check out the full press release here


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