NAPANEE, Ontario, Jan. 02, 2018 (GLOBE NEWSWIRE) -- ABCANN GLOBAL CORPORATION (TSXV:ABCN) (OTC:ABCCF) (“ABcann” or the “Company”) is pleased to announce that the Company has been licensed by Health Canada to produce medical cannabis oils. Once ABcann has saleable extracted finished products, Health Canada will conduct a final inspection to approve the sale of cannabis oils by the Company. This is expected in the first quarter of 2018.
“Receipt of the license to produce cannabis oils is a major milestone in our pursuit to provide our medical cannabis patients with additional product formats that can be precisely dosed,” commented Barry Fishman, CEO of ABcann. “The expansion and innovation of our product lines are a top priority for the Company as we continue to serve the needs of our customers, and we anticipate strong demand for our cannabis oil products.”
ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centred on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pharmaceutical-grade cannabis products.
The Company is expanding its cultivation capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
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Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which are statements that are not purely historical, regarding the beliefs, plans, expectations or intentions of ABcann and its management regarding the future. Forward looking statements in this news release include statements relating to the Company’s potential new products and product line innovations, timing of approval from Health Canada for the sale of cannabis oils, expected demand for cannabis oil products, and ABcann’s future plans with respect to cultivation, distribution and imports into Germany, Australia and other international jurisdictions. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including potential delays in formulating new product lines or producing saleable extracted finished products, potential delays in the timing of Health Canada approval for the sale of cannabis oils and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company’s filing statement dated March 31, 2017, which is available on SEDAR, carefully in evaluating the forward-looking statements, and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements in this news release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.