ABcann Global Enters Its Growth Phase (Plus Exclusive Interview) -- CFN Media
(firmenpresse) - SEATTLE, WA -- (Marketwired) -- 09/20/17 -- CFN Media Group ("CannabisFN"), the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an exclusive interview with (TSX VENTURE: ABCN) (OTCQB: ABCCF) Aaron Keay, former CEO and current member of the Board of Directors. In the , Mr. Keay discusses the company''s transition to new CEO Barry Fishman, as well as the opportunities ahead for the company in both Canada and internationally.
Canada''s cannabis industry is expected to reach C$22.6 billion over the coming years, according to Deloitte, as recreational legalization goes into effect next year. Despite about 60 licensed producers approved by Health Canada, the market is expected to experience a shortfall in production that could lead to an opportunity.
Aaron Keay has been instrumental in guiding ABcann Global through the process of raising capital and becoming a public company. With over a decade of experience working in the capital markets, Mr. Keay was the perfect person to spearhead these efforts and guide the company on its way to becoming a premier licensed producer. The of new CEO Barry Fishman marks an important turning point as Keay looks to focus on operations moving forward.
Barry Fishman has nearly 20 years of experience in executives role at pharmaceutical companies where he was instrumental in growing them. In his most recent position, he served as CEO of the international specialty pharmaceutical company Merus Labs, where he grew revenue and EBITDA at a compound annual growth rate of more than 50% before Norgine BV acquired the company for $342 million in July 2017.
In addition to Merus Labs, Fishman has previously served as CEO of both Teva Canada and Taro Canada and was Chair of the Canadian Generic Manufacturers Association. He also served in various cross-functional leadership roles at Eli Lilly & Co., including Vice President of Marketing. And finally, he has served on the Board of Directors for several cannabis companies, which provides him with extensive insights into the sector.
ABcann Global has made tremendous progress since the beginning of the year. In preparation for its growth phase, the company completed multiple financings including a subscription receipt offering for $11.8 million and a private placement for $15 million in proceeds. This capital is being deployed to expand its fully-operational Vanluven facility and initiate construction of its 150,000 square foot Kimmett facility in recent months.
The company also announced a strategic partnership with Cannabis Wheaton Income Corp. that includes a $30 million investment and the opportunity to finance a 50,000 square foot expansion facility in a 50/50 joint venture. The company also continues to see strong demand for its premium, organically-grown, pesticide-free cannabis products in the domestic market as it looks to expand into international markets down the road.
Finally, ABcann has also benefited from its inclusion in the Horizons Medical Marijuana Life Sciences ETF, which is the first ETF that provides investors with direct exposure to a basket of North American publicly-listed companies that meet minimum asset and liquidity thresholds. The inclusion in the ETF improves the company''s credibility among institutional investors and could help improve liquidity over the long run.
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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.
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 , 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 compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: .
CFN Media
Frank Lane
206-369-7050
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Datum: 20.09.2017 - 07:00 Uhr
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