CFN Media Group published an article covering ABCANN GLOBAL CORPORATION (CVE:ABCN) after its going-public development. There are around 40 licensed producers that have obtained approval from Health Canada to grow and sell medicinal cannabis to customers.
The largest firm in this relative space is Canopy Growth Corporation, which has become the preliminary cannabis ‘unicorn’ with a market cap of more than C$1 billion. Several other licensed producers are ramping up production so as to come close to recording this kind of valuation.
ABcann Global is priced considerably lower by comparison with a market cap of about C$85 million, regardless being one of the initial licensed producers permitted by Health Canada in 2014. The firm hasn’t increased its production as fast as other LPs, but it has finalized high-profile associations with firms like Syqe Medical Inc., the innovator behind the preliminary metered dosage inhaler and advanced some of the highest yields in the market.
In addition, ABcann has the cash on hand to considerably expand its capacity in the near-term. Management projects that its Van Luven facility will increase its capacity, to around 29,000 square feet, this year whereas the Kimmet facility will be functional in 2018 with a 150,000 square foot presence.
ABcann boasts an experienced management team that’s all set to implement on plans to become a pioneer in the industry. Chairman Ken Clement has established a solid rapport with Health Canada and made numerous strategic partnerships across the world.
His objective of standardizing production and cannabinoids doses has help shaped the firm’s distinct focus relative to other licensed manufacturers that are focused on just maximizing production of commoditized offerings that will just be hard to contest against as the industry advances. CEO Aaron Keay has experience of more than 10 years across different sectors, serving in senior management, board member and corporate finance roles.