NAPANEE, Ontario, Jan. 05, 2018 (GLOBE NEWSWIRE) -- ABCANN GLOBAL CORPORATION (TSXV:ABCN) (“ABcann” or the “Company”) is pleased to announce the appointment of Sung Kang as the Company's Chief Marketing Officer (CMO). Mr. Kang, who will assume the position effective January 8, 2018, was formerly the Head of Marketing for the Mike’s Beverage Company, Canada’s leading ready-to-drink and cider business, owned by Labatt Breweries of Canada.
With more than 17 years of marketing experience, Mr. Kang has also held senior marketing leadership roles at companies including General Mills, Novartis Consumer Health, and Mark Anthony Group. His diverse background in consumer packaged goods (CPG)/food, pharma and alcohol has given him extensive experience managing large brand portfolios as well as uncovering powerful consumer insights that lead to category expanding new product innovations within regulated industries.
“Sung is a great addition to the leadership team. We believe his marketing expertise combined with his experience in the alcohol and consumer health industries will prove invaluable to ABcann’s future growth,” says Barry Fishman, Chief Executive Officer of ABcann. “He knows how to leverage marketing analytics to create unique brands and effective promotions, and has a proven record of pushing the boundaries of consumer brands using disruptive innovation.”
As ABcann’s CMO, Mr. Kang will lead the Company’s branding, product innovation, customer marketing, consumer insights and advertising, as well as market access, key account management and digital initiatives. He will be responsible for developing and executing strategies aimed at positioning ABcann as a leading medical and adult-use cannabis company and driving profitable revenue.
In connection with Mr. Kang’s appointment, the Company has agreed to grant Mr. Kang 300,000 stock options, each of which will be exercisable into one common share in the capital of the Company until January 5, 2023 at a price of $1.77 per share, being the closing price per share on the TSX Venture Exchange on January 4, 2018. The options will vest quarterly over 36 months.
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 expected impact of Mr. Kang’s appointment on ABcann’s operation, his ability to develop and execute strategies to position ABcann as a leader in the cannabis sector and to drive profitable revenue, 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 that Mr. Kang will not have the expected impact on ABcann’s operations, the strategies to be developed will not grow ABcann’s business as expected, 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.