ABcann continues to turn heads in the marijuana space. CannabisFN is the latest to feature an interview with Aaron Keay, former CEO and current member of the Board of Directors. If you have been following their story, we recommend watching the interview.
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CFN Media Group announces the publication of an exclusive interview with ABcann Global Corporation's (TSX VENTURE: ABCN) (OTCQB: ABCCF) Aaron Keay, former CEO and current member of the Board of Directors. In the interview, 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.
A Company in Transition
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 appointment 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.
Improving Operations & Financials
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.
Please follow the link to see the interview and read the full article: http://www.cannabisfn.com/abcann-global-enters-growth-phase-exclusive-interview/
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