One of the most dominant and experienced growers of quality medical marijuana on the Canadian market, ABcann Medicinals (TSXV: ABCN), has entered a stage of aggressive growth after launching its first initial public offering (IPO) on the TSX Venture Exchange earlier this month. Recently acquired by ABcann Global Corporation, an acquisition that came with a $26.8 million capital raise to help expand production, the company is already licensed to sell to the entire Canadian market and plans to significantly expand production to reach this goal. In addition, ABcann also plans to sign partnerships to sell to the U.S. market, as well as in Europe and Australia, in the near future.
The company expects significant profit from the IPO launch, and given the market’s reaction to other Canadian marijuana companies that have taken this step in the past, success seems all but guaranteed (http://nnw.fm/miQ8F). ABcann aims to raise $8 million from the IPO and to use the funding primarily to build a second production facility, four times larger than its current one. With both facilities running, the company expects to have the capacity to produce over 20 tons of…
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