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by Stockwatch Business Reporter
The TSX Venture Exchange added 1.76 points to close at 751.13 Monday. Paul Barbeau's halted capital pool shell, Panda Capital Inc. (PDA), plans to acquire licensed cannabis producer ABcann Medicinals Inc. for the shell's qualifying transaction. Panda, which has 2,812,500 shares issued, will issue 65,264,681 shares to ABcann's shareholders.
ABcann has a 14,000-square-foot production facility in Napanee, Southeastern Ontario. It hopes to build a new one that would cover 952,000 square feet. The company sells 10 strains of medical cannabis, at prices ranging from $5 to $14 per gram. Soon it will release two more strains, priced $6 and $10 a gram. To differentiate itself from competitors, ABcann claims to have standardized its growing process, such that it has a consistently high quality of products that "can be prescribed [by doctors] with confidence." ABcann's founder and controlling shareholder, Ken Clement, says he wants to show doctors that he "can take a plant and turn it into a medicine. If I don't grow like this, how do I convince a doctor?" In August, 2016, when ABcann invited local journalists to its facility, they were made to decontaminate by walking through air showers. They also had to wear full-body suits. They were impressed.
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