ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) this morning provided an update on its construction and expansion timelines for its Vanluven and Kimmett facilities, both of which are located in Napanee, Ontario. Per the update, ABcann’s plans to commence construction at its Kimmett facility in the third quarter of 2017 remain on schedule, and the previously announced plans for a 71,000 square foot Phase 1 project have been expanded to 100,000 square feet. Additionally, the company has initiated immediate expansion and construction efforts at its current production facility at Vanluven with the goal of doubling production capacity in order to better service its growing patient base. “ABcann’s strong cash position from its go public transaction, subsequent warrant exercises and recently announced equity financing for $2.25 per share has positioned the Company to aggressively expand our production capacity at both Vanluven and Kimmett,” Aaron Keay, CEO and director of ABcann, stated in the news release. “The imminent expansion plans and decision to expand our Phase 1 construction plans at Kimmett are in line with ABcann’s corporate strategy to take advantage of the current domestic demand for a high quality standardized pesticide free product, in addition to becoming a strong competitor in a number of the emerging markets internationally.”
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ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) Issues Update on Construction and Expansion Activities
