OTTAWA, June 26, 2017 (GLOBE NEWSWIRE) — ABcann Global Corporation (TSXV: ABCN) (OTC: ABCCF) (“ABcann” or the “Company”) is pleased to announce that it has amended and extended the research contract currently in place between its Canadian operating subsidiary, ABcann Medicinals Inc., and the University of Guelph, of Guelph, Ontario.
The agreement, which dates back to January 1, 2015, has been extended to December 31, 2018, with the option to extend if mutually agreed upon. The research is focused on Controlled Environment Production of Medicinal Cannabis and is being conducted at the Controlled Environment Systems Research Facility (CESRF) under the direction of Dr. Michael Dixon at the University of Guelph. A portion of the research is also being conducted within ABcann’s research lab in Napanee which has been dedicated solely to the University of Guelph studies.
The multi-year research program is focused on a number of projects designed to enhance the ABcann process in terms of control, yield, quality and flexibility. Included are projects related to organic nutrient delivery and uptake, propagation protocols, optimizing controlled growth under different lighting configurations, and irrigation management strategies.
The $1.4 million project has already yielded results which have been incorporated into our growing systems, and we fully expect to see further results which will give us a significant advantage over our competition. We have benefitted greatly from having the researchers and graduate students working with our team and we value our close working relationship with Dr. Dixon and his group.
Ken Clement, founder and Executive Chairman of ABcann
“ABcann has pursued a unique approach to controlled environment production of cannabis designed to standardize the production and quality of medical compounds,” says Dr. Mike Dixon, Director of the CESRF at Guelph. “Our research program in collaboration with ABcann represents a systematic and comprehensive approach to the development of the most sophisticated production technology in this industry sector.”
ABcann is also pleased to announce the exercise of 9,241,766 warrants for gross proceeds of $5,729,894. The warrants were originally issued in connection with private placements undertaken by ABcann Medicinals Inc. in 2014 and 2015.
About the Controlled Environment Systems Research Facility (CESRF):
ABcann has had a collaborative relationship with the CESRF since ABcann’s early development stages. The CESRF research group is led by Dr. Michael Dixon, project leader for the Canadian research team investigating the contributions of plants to life support in space. Dr. Dixon formed the Space and Advanced Life Support Agriculture (“SALSA”) program at the University of Guelph. The SALSA program currently represents Canada’s prime contribution to the International Space program objectives in life support.
The CESRF provides a complete research venue suitable for measurement of plant growth, gas exchange, volatile organic compound (“VOC”) evolution, and nutrient remediation in a precisely controlled environment. The CESRF is comprised of 24 sealed environment chambers, including 14 variable pressure plant growth hypobaric chambers capable of sustaining a vacuum. The CESRF personnel have extensive experience in the fields of plant physiology, environment analysis and sensor technology. ABcann’s Vanluven Facility also has a room dedicated to the University of Guelph for CESRF’s experiments using cannabis. The CESRF team assisted ABcann in developing the controlled growth environment systems currently being used at the Vanluven Facility.
About ABcann Global Corporation
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.
Original press release: http://www.nasdaq.com/press-release/abcann-global-extends-research-agreement-with-the-university-of-guelph-20170626-00385
