OTTAWA, July 05, 2017 (GLOBE NEWSWIRE) — ABcann Global Corporation (TSXV: ABCN) (OTC: ABCCF) (“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. Our inclusion in the ETF represents an important milestone for our company as we strive to become a dominant industry participant.
Aaron Keay, CEO of ABcann
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.
Original press release: https://globenewswire.com/news-release/2017/07/05/1038974/0/en/ABcann-Global-Announces-Inclusion-on-the-Horizons-Medical-Marijuana-Life-Sciences-ETF.html
