OTTAWA, July 05, 2017 (GLOBE NEWSWIRE) — ABcann Global Corporation (TSX-V:ABCN) (“ABcann” or the “Company“) is pleased to announce its inclusion in the Horizons Medical Marijuana Life Sciences ETF (TSX:HMMJ) (the “ETF”).
The ETF is the first of its kind and offers investors direct exposure to a basket of North American publicly listed life sciences companies with significant business activities in the medical marijuana sector. The ETF is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Medical Marijuana Index (the “Index”), net of expenses. The Index selects from a current universe of companies that have operations that may include one or more of biopharmaceuticals, medical manufacturing, distribution, bioproducts and other ancillary businesses to the marijuana industry.
Only stocks that meet minimum asset and liquidity thresholds are eligible for inclusion in the Index. Stocks are rebalanced quarterly on a market-capitalization basis, and capped so that no single stock can exceed 10% of the weight of the Index when rebalanced.
“The Horizons ETF represents a new type of investment, a fund that tracks an industry in which there is considerable interest but which had no prior investment vehicle through which investors could gain broad exposure,” says Aaron Keay, CEO of ABcann. “Our inclusion in the ETF represents an important milestone for our company as we strive to become a dominant industry participant.”
About ABcann Global Corporation (TSX-V:ABCN):
ABcann was one of the first companies to obtain a production license under the Marijuana for Medical Purposes Regulations, which it received on March 21, 2014. It obtained a sales license on December 31, 2015. ABcann’s flagship facility, in Napanee, Ontario, contains proprietary plant-growing technology, including environmentally-controlled chambers capable of monitoring and regulating all variables in the growing process. This approach and the systems in place allow ABcann to produce organically grown and pesticide-free, high-yielding plants, which, in turn, can generate high-quality products that are consistent from batch to batch. ABcann is able to control environmental and nutrient demands, tailor-made for a particular strain of cannabis, without the variation that is typical when producing large quantities in less-controlled, larger rooms and greenhouse-type structures. ABcann’s modular approach to systems technology eliminates scale-up risk and allows ABcann to locate anywhere in the world and maintain consistency and quality of product.
ABcann is expanding capacity in its current facility to approximately 30,000 sq ft and concurrently undertaking expansion into a new 150,000 sq ft facility in Napanee. ABcann is pursuing opportunities in Germany, Australia and other jurisdictions as well as exploring the development of multiple delivery vehicles.
About Horizons ETFs Management (Canada) Inc.
Horizons ETFs Management (Canada) Inc. and its affiliate, AlphaPro Management Inc., are innovative financial services companies offering the Horizons ETFs family of exchange traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs have more than $7 billion of assets under management. With 77 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Global Investments Group.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the scope of the Company’s proposed expansions at its Napanee facilities. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including: (i) changes to applicable legislation or regulatory requirements; (ii) changes to the anticipated costs of the expansions that require the Company to obtain additional capital or modify its development plans; and (iii) other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company’s filing statement dated March 31, 2017 which is available on SEDAR, carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements in this news release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.