ABCANN GLOBAL CORPORATION (CVE:ABCN) reported the election of W. Brett Wilson to its Advisory Board in connection with the closure of the firm’s acquisition deal of ABcann Medicinals Inc. The deal comprised concurrent capital advances of $26.8 million to increase company’s production capacity.
Wilson’s track record and extensive experience in financing and creating initial stage ventures into successful firms makes him an ultimate strategic advisor to the firm at this stage of its advancement. He was a co-founder of the highly regarded investment bank named FirstEnergy which was later bought by GMP Capital Inc. He is a known TV personality, popular for his role as a Dragon on CBC Dragons’ Den TV program, and an initial stage venture financier in several successful firms.
ABcann reported that Wilson’s involvement and investment of $500,000 in the firm’s subscription receipt offering accepted concurrently with the closure of the deal showcases another vital step for Wilson into the legalized cannabis market. He is a strategic advisor and lead investor with Green Acre Capital, a Calgary and Toronto based cannabis market focused investment fund.
Aaron Keay, the Director and CEO of ABcann, said that Wilson is a remarkable addition to the firm’s Advisory Board. He’s an accomplished and widely respected business pioneer and will perfectly complement the management team. Keay added that they look forward to using Brett’s experiences and knowledge as they expand the ABcann brand and appreciate his personal interest and investment into the firm.
Recently, the company closed its Qualifying Transaction, pursuant to which it bought all of the unpaid securities of ABcann Medicinals Inc. Following the completion of this deal, ABCN stock resumed trading as a Tier ‘2’ Industrial Issuer on the TSXV platform under the ticker “ABCN” from May 4, 2017.
In the last trading session, the stock price of ABcann closed flat at $1.01.