NAPANEE, Ontario, May 04, 2017 (GLOBE NEWSWIRE) -- ABcann Global Corporation (TSXV:ABCN) (the “Company”) is pleased to announce the appointment of W. Brett Wilson to the Advisory Board of the Company in connection with the completion of the Company’s acquisition of ABcann Medicinals Inc. (the “Transaction”). The Transaction included concurrent capital raises of $26.8 million to expand ABcann’s production capacity.
Mr. Wilson’s extensive experience and track record in financing and building early stage ventures into successful companies makes him an ideal strategic advisor to the Company at this stage of its development. Mr. Wilson was a co-founder in 1993 of the highly regarded investment bank, FirstEnergy (which was subsequently acquired by GMP Capital Inc.). He is a leading TV personality, known for his role as a “Dragon” on CBC’s award winning Dragons’ Den television program, and an early-stage venture financier in hundreds of successful companies.
Mr. Wilson’s involvement and $500,000 investment in the Company’s subscription receipt offering undertaken concurrently with the completion of the Transaction represents another major step for Mr. Wilson into the legal cannabis industry. He is also a lead investor and strategic advisor with Green Acre Capital, a Toronto and Calgary based cannabis industry focused investment fund.
“Mr. Wilson is a welcome addition to the Company’s Advisory Board. He’s a widely respected, established, and accomplished business leader and will complement the talents of our directors and advisors. We look forward to utilizing Brett's knowledge and experiences as we grow the ABcann brand and welcome his personal investment and interest into the Company,” says Aaron Keay, CEO and a director of the Company.
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 timing of the resumption of trading of the Company’s shares on the TSXV and the expected contributions of Mr. Wilson. 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 that delays may occur in timing of the resumption of trading and 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 filing statement filed by the Company in connection with the Transaction, 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. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Source: ABcann Medicinals