ABcann Releases High Level CBD Product and Launches Initial Oils Strategy
OTTAWA, Aug. 28, 2017 (GLOBE NEWSWIRE) — ABcann Global Corporation (TSXV: ABCN) (“ABcann” or the “Company”) is pleased to announce the release of one of Canada’s highest legal CBD:THC (cannabidol:tetrahydrocannabinol) ratio products available on the market by its wholly-owned subsidiary, ABcann Medicinals Inc.
The release of CBD-Med is part of the Company’s strategy to provide a diverse range of products as it formally initiates the process to begin selling oils. CBD-Med has a ratio of 27.6:1 (18.5% CBD to 0.67% THC), putting the product into a very select class as one of Canada’s highest CBD products under Health Canada regulations.
In addition to formally offering this product line to its patient base, ABcann is anticipating being able to sell oils in October as it continues to diversify its product lines. Products that ABcann will have available for patients are expected to include a 1-1 THC/CBD drop, a high THC dropper and a high CBD dropper.
This new high CBD product is in addition to ABcann’s current high CBD products: NC:Med – 18.9:1 (18.9% CBD to 1% THC) and DC:Med – 15.4:1 (15.4% CBD to 1% THC).
ABcann will be able to release additional product details shortly regarding the formulations of capsules and soft gels.
“The development of these products is in line with ABcann’s corporate strategy as a premium product provider of organic, pesticide free cannabis,” says Ken Clement, Executive Chairman of ABcann. “As the Company continues to scale production capacity, our product line will expand as we strive to increase shareholder value through capturing a larger market share of the current global medical markets.”
ABcann will continue to advance our core businesses and subsidiaries as production capacity continues to increase through our aggressive construction and expansion plans. The construction timelines at both of our locations position ABcann to become a strong competitor in the existing global medical market and to take advantage of the emerging adult consumer market that is expected to emerge in 2018.
Aaron Keay, Chief Executive Officer of ABcann
ABcann’s reputation as one of the highest quality, pesticide free, standardized products available today received further validation as the Company has completed its ISO 9001 audit by BSI Group Canada and has been recommended for certification. ABcann remains committed to providing the best growing technique and product standards in the industry. The Company continues to operate under one of the highest quality assurance programs in the world, which includes voluntary external third party testing through RPC, a laboratory services provider in New Brunswick, Canada.
About ABcann Global Corporation (TSX-V:ABCN):
ABcann Global Corporation’s wholly owned subsidiary, ABcann Medicinals Inc., was one of the first companies to obtain a production license under the Marijuana for Medical Purposes Regulations, which it received on March 21, 2014. It obtained a sales license on December 31, 2015. ABcann’s flagship facility in Napanee, Ontario utilizes proprietary plant-growing technology, including environmentally-controlled chambers capable of monitoring and regulating all variables in the growing process. This approach and the systems in place allow ABcann to produce organically grown and pesticide-free, high-yielding plants, which, in turn, can generate high-quality products that are consistent from batch to batch. ABcann is able to control environmental and nutrient demands, tailor-made for a particular strain of cannabis, without the variation that is typical when producing large quantities in less-controlled, larger rooms and greenhouse-type structures. ABcann’s modular approach to systems technology eliminates scale-up risk and allows ABcann to locate anywhere in the world and maintain consistency and quality of product.
ABcann is expanding capacity its current facility to approximately 30,000 sq ft and concurrently undertaking its expansion into a new 150,000 sq ft facility in Napanee. ABcann is pursuing opportunities in Germany, Australia and other jurisdictions as well as exploring the development of multiple delivery vehicles.