New York, New York (NetworkNewsWire) – Medical cannabis use has
been legal in Canada since 2001, and Canada is now working to
become the first industrialized nation to input a comprehensive
system permitting the recreational use of marijuana. Sweeping
legislation has been introduced by the Canadian government that
takes aim at permitting nationwide recreational cannabis use by
July 2018—a move applauded by companies that are currently licensed
to produce medical marijuana in Canada or are engaged in providing
services to growers. These companies include ABcann Global
Corporation (TSX.V: ABCN) (OTCQB: ABCCF) (ABcann
Profile), which recently closed a
milestone financing agreement with Cannabis Wheaton Income
Corp. (TSX.V: CBW) (OTC: KWFLF), an investor and supporter
of cannabis cultivation companies, as well as Canopy Growth
Corp. (TSX: WEED) (OTC: TWMJF), Aphria Inc. (TSX:
APH) (OTC: APHQF), and Aurora Cannabis Inc. (TSX:
ACB) (OTCQX: ACBFF).
Despite the widespread legalization of medical marijuana in
Canada, the licensing requirements for cannabis growers are
incredibly strict, with only three percent of the growers who apply
for licensing obtaining approval. ABcann
Global was one of Canada’s very first companies to successfully
obtain licensure to produce medical cannabis. Under Canada’s
Marijuana for Medical Purposes Regulations, ABcann obtained its
production license in March 2014, followed by the successful
attainment of a cannabis sales license in December 2015.
ABcann went public in May 2017 with an IPO priced at $0.80 per
share, and PI Financial analyst Jason Zandberg quickly initiated
coverage with a one-year price target of $2.25 (USD). As of August
21, 2017, ABcann’s price was at $0.90 (CAD) and $0.73 (USD); its
market cap was at $89.664 million (CAD) and $72.727 million (USD);
and the company’s YTD return was 275 percent. The company’s annual
production capacity is currently at 1,000 kg, and build-out plans
presently in motion would increase that to an estimated 20,000
kg.
Though ABcann is still young as a publicly traded security, the
company has become one of the foremost medical cannabis growers in
Canada, standing out with its proprietary growing technology, which
results in the production of top-quality, organically grown,
pesticide-free medical-grade cannabis. ABcann’s low current market
cap presents a clear opportunity for investors—particularly when
contrasted with the company’s Canadian cannabis peers, which, as
previously mentioned, are few in number. There are currently only
54 licensed cannabis producers in all of Canada1.
Comparable competing companies with much higher prices and
market caps than ABcann include Canopy Growth
Corp., which, as of August 21, was at a price of $8.51
(CAD) and $6.79 (USD) and had a market cap of $1.436 billion (CAD)
and $1.143 billion (USD); Aphria Inc., with a
price of $5.73 (CAD) and $4.57 (USD) and a market cap of $795.436
million (CAD) and $634.405 million (USD) as of August 21; and
Aurora Cannabis Inc., with a price of $2.42 (CAD)
and $1.93 (USD) and a market cap of $887.615 million (CAD) and
$707.891 million (USD).
ABcann’s growth potential is indisputable. Within just three
months of becoming a publicly traded company, ABcann has raised $43
million in cash, which has enabled the company to rapidly carry out
its expansion strategy and business model. Recent financing from
cannabis streaming company Cannabis Wheaton Income
has positioned ABcann to grow at a rate unprecedented in Canada’s
marijuana market. Cannabis Wheaton, which invests in and supports a
broad range of promising marijuana cultivation companies, announced
near the end of July that it has obtained Exchange approval to
purchase $30 million of ABcann Global common shares with a $15
million cash tranche priced at $2.25 per share. The initial
investment of $15 million is part of a larger phased investment to
construct additional square footage of pure cannabis cultivation
space adjacent to ABcann’s current 14,500-square-foot cultivation
facility in Ontario. ABcann has confirmed that its plans to
commence construction at its Kimmett facility in Q3 2017 remain on
track, and that the previously announced plans for a
71,000-square-foot phase 1 facility have been expanded to 100,000
square feet.
In producing its medicinal cannabis, ABcann employs a
proprietary plant-growing technology that includes the use of
environmentally-controlled chambers that can monitor and regulate
all variables during the growing process. Through a partnership
with the University of Guelph, ABcann has mastered mass yield
techniques and has developed, at its production facility in
Napanee, Ontario, a pioneering, computer-controlled environmental
system that duplicates natural growing environments. This
controlled indoor system combines scalable growing chambers, LED
lighting, and organic fertilizers and soil while simultaneously
eliminating toxins and pesticides. All aspects of the process are
monitored and controlled, resulting in consistent, high-quality
plant production in mass quantities.
Thanks to the company’s innovative approach and systems, ABcann
is able to produce organically grown and pesticide-free,
high-yielding cannabis plants that produce top-quality products
that are consistent with each new batch. The company can control
both environmental and nutrient demands to create particular
strains of cannabis, free of the variation that is so common when
large quantities of marijuana are produced in less-controlled,
larger rooms and in greenhouse-type environments. This modular
approach to systems technology eradicates scale-up risk and enables
ABcann to locate its operations anywhere in the world while
maintaining consistency and product quality.
In addition to its Canada operations, ABcann is pursuing
opportunities in Germany, Australia and other jurisdictions and is
also endeavoring to develop multiple delivery vehicles.
ABcann compares impressively with other companies in Canada’s
explosive medical cannabis industry—companies with much higher
market caps and share prices. With Canada on the verge of blanket
legalization of marijuana, the opportunity for investors is clear.
In a country where stringent licensing standards have made cannabis
growers few and far between, ABcann is a standout marijuana player
to be reckoned with.
Editorial Sources:
1) Government of Canada: http://nnw.fm/2ehJD
For more information on ABcann Global please
visit: ABcann Global
(TSX.V: ABCN) (OTCQB: ABCCF)
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