Cannabis Wheaton to invest $30 mln in ABcann cannabis facility
ABcann Global Corp (TSX-V: ABCN) has agreed to receive a $30 million investment from Cannabis Wheaton Income Corp, a cannabis streaming company set up earlier this month by Nesta Holding. The proceeds will be used to fund construction of ABcann’s proposed cannabis cultivation facility located in Napanee, Ontario. Cannabis Wheaton's investment, to be made over 2017-2018, will entitle it to receive 50 percent of the proceeds of future wholesale or retail sales generated by ABcann from cannabis production. Nesta is a Canadian cannabis private equity firm.
30 May 2017•4 mins read
