Abcann Global (TSX.V: ABCN) (OTCQB: ABCCF) this morning said that the company recently entered into a binding Letter of Intent (“LOI”) dated December 11, 2017 to acquire all outstanding securities of Canada’s fastest growing medical cannabis clinic, Harvest Medicine Inc. Per the terms of the agreement, Abcann will make a $1,500,000 cash payment and issue 1,056,338 common shares in the capital of ABcann valued at $1,500,000, based on a deemed price of $1.42 per share. Upon the closing of the transaction, Harvest Medicine founder and CEO, Shekhar Parmar, is anticipated to join ABcann’s executive team as Chief Strategy Officer and remain CEO of Harvest Medicine. “Their professional, patient-focused approach is aligned with ABcann’s philosophy of quality and innovation. This represents one initial step of many as we begin the execution of our aggressive growth strategy,” ABcann CEO Barry Fishman stated in the news release.
To view the full press release, visit http://dtn.fm/5YmCi
Let us hear your thoughts: ABcann Global Corp. Message Board
About ABcann Global Corp.
ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centered on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pharmaceutical-grade cannabis products. The company is expanding its cultivation capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel. For more information, visit www.ABcannGlobal.com.
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.