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ABcann raises C$75M, plans export of medical cannabis to Australia, Germany

ABcann Global Corp. said it recently closed a placement of securities, raising C$75 million in proceeds.

The Canadian medical cannabis company said the financing was oversubscribed and that now it holds C$135 million in cash, which will be used to expand ABcann's production facility, among other things.

ABcann is also looking to begin cannabis export to Australia by mid-2018 and to Germany by the end of the year. The company said it continues to assess other international opportunities.