Going public appears to be paying off for ABcann Medicals (TSXV: ABCN), since the medical cannabis grower launched its initial public offering (IPO) on the TSX Venture Exchange. Although the IPO was just launched on May 4 (http://nnw.fm/Lt5DO), its value took off, soaring over 26% on the first day and trading over 25% of the total volume on the exchange. ABcann is one of Canada’s major legal cannabis producers, and the public offers are set to provide even more investor benefits as the recreational marijuana market is now positioned for nationwide legalization.
Raising capital was part of the company’s decision to launch a public offering. ABcann Medicinals was recently acquired by ABcann Global Corporation, which included capital raises of $26.8 million to be used to expand production. In connection with the acquisition, W. Brett Wilson, a financing expert specializing in building early stage ventures, was appointed to…
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer