ABcann Global Corp. (TSX.V: ABCN) (OTCQB: ABCCF) this morning announced that it has completed its acquisition of Harvest Medicine Inc. pursuant to the terms of a share purchase agreement dated January 31, 2018. Per the update, the acquisition was completed in consideration for, among other things, a cash payment of $1.5 million, the issuance of 1,056,338 common shares in the capital of the company and additional post-closing consideration related to certain performance milestones, including patient revenue and profitability metrics. Moving forward, Harvest Medicine will operate as a wholly-owned subsidiary of ABcann, but it will maintain its commitment to being an open platform that enables patients to register with the licensed producers of their choice. “The acquisition of Harvest Medicine represents further progress toward our goal of becoming a vertically integrated medical cannabis company,” Barry Fishman, CEO of ABcann, stated in the news release. “It is one of the fastest-growing medical cannabis clinics in Canada, with an aggressive expansion plan and a patient-focused approach that is aligned with ABcann’s philosophy of quality and innovation.”
To view the full press release, visit http://ibn.fm/o8Doj
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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
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