ABcann Granted Australian Import License
January 18 2018 - 7:00AM
ABCANN GLOBAL CORPORATION (TSX-V:ABCN)
(“
ABcann” or the “
Company”) is
pleased to announce that its wholly-owned subsidiary, ABcann
Australia Pty Ltd. (“
ABcann Australia”), has
received an import license from the Federal Office of Drug Control
in Australia. ABcann continues to work with government and its
industry partners in Australia to develop exclusive programs
targeting physician networks. Following receipt of any necessary
approvals, including the approval of the TSX Venture Exchange,
ABcann intends to supply medicinal cannabis to the Australian
market via the Australian Department of Health’s TGA (Therapeutic
Goods Administration) Special Access Scheme.
“This import license is a key milestone towards
generating revenue through ABcann’s network of physicians,
pharmacists and patients, and advancing the use of medical
cannabis,” commented Barry Fishman, Chief Executive Officer of
ABcann. “We view Australia as an important emerging market for
medical cannabis and I look forward to meeting with our strategic
partners and stakeholders in Australia later this month to further
discuss opportunities there.”
“Attainment of this license is one of several
important steps we have taken over the last six months to cement
key relationships with strategic partners in industry and
government. ABcann Australia is committed to providing Australian
patients with high quality medicinal cannabis products,” said Henry
Pinskier, MD, Chairman of ABcann Australia.
About ABcann:
ABcann holds production and sales licenses from
Health Canada. Its flagship facility in Napanee, Ontario contains
proprietary plant-growing technology, centred on its specially
designed, environmentally-controlled growing chambers. This
approach results in the production of pharmaceutical-grade cannabis
products.
The Company is expanding its cultivation
capacity and pursuing partnerships and product development
opportunities domestically, as well as in select international
markets, such as Germany, Australia and Israel.
ON BEHALF OF THE BOARD OF
DIRECTORS
"Barry Fishman"
Barry Fishman 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 news release are
forward-looking statements, which are statements that are not
purely historical, regarding the beliefs, plans, expectations or
intentions of ABcann and its management regarding the future.
Forward looking statements in this news release include statements
relating to: the expected impact of receiving an Australian import
license on ABcann’s operations; ABcann’s proposed plans for
supplying medicinal cannabis to the Australian market; ABcann’s
expectation of obtaining required approvals to operate in
Australia, including the approval of the TSX Venture Exchange and
Health Canada; and ABcann’s future plans with respect to
cultivation, distribution and imports into Germany, Australia and
other international jurisdictions. Such statements are subject to
risks and uncertainties that may cause actual results, performance
or developments to differ materially from those contained in the
forward-looking statements, including: that ABcann may not receive
the necessary regulatory approvals to export product into, or
operate in Australia; that the Australian import license may not
have the expected impact on ABcann’s operations; 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 Company’s filing statement
dated March 31, 2017, which is available on SEDAR, carefully in
evaluating the forward-looking statements, and are cautioned not to
place undue reliance on such forward-looking statements, which are
qualified in their entirety by these cautionary statements. The
forward-looking statements in this news release are made as of the
date hereof and the Company disclaims any intent or obligation to
update publicly any such forward-looking statements, whether as a
result of new information, future events or results or otherwise,
except as required by applicable securities laws.
For further information, please contact:
Barry Fishman
CEO and Director
barry.fishman@abcannglobal.com
Michael Bumby
CFO
michael.bumby@abcannglobal.com
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