Ottawa, ON – ABcann Global Corporation (TSX-V:ABCN) ("ABcann" or the "Company") announced 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 Jan. 1, 2015, has been extended to Dec. 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,” says Ken Clement, founder and Executive Chairman of ABcann, “and we fully expect to see further results which will give us a significant advantage over our competition. We have benefited 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.”
“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.