Vancouver, British Columbia--(Newsfile Corp. - June 13, 2017) - Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB: ATTBF) (the "Company" or "Abattis") is pleased to provide an update of recent developments and achievements.
Testing Revenues at Northern Vine LabsTM
Since the launch of its first lab in May of 2017, the Company's subsidiary, Northern Vine Canada Inc. ("Northern Vine"), has been successfully accepting cannabis flower, oil and edible samples at its lab in Langley, BC. The team of scientists continues to perfect their methods and are successfully issuing Certificates of Analysis ("COA's") to early lab clientele.
Capacity Expansion at Northern Vine LabsTM
Due to demand for testing at Northern Vine LabsTM, the Company has commenced the process of enhancing its security to Level 6 to increase the amount of controlled substances it can hold and process in the lab. This will enable Northern Vine to significantly increase the volume of services it can provide to licensed producers and ACMPR patients.
On April 20, 2017, Abattis signed an exclusive distribution agreement with Suzhou Raybot Material Tech Corp. ("Raybot"). The agreement allows Abattis to use Raybot's proprietary extraction technology and to exclusively sell the extraction equipment and services. The Company has now received one of Raybot's extraction machines at its Northern Vine lab and has commenced testing of the machinery. The results of the testing will be disclosed once testing is complete.
"We are very excited and eagerly await the results of this technology," stated Abattis President & CEO, Robert Abenante. "This technology has the potential to significantly disrupt the cannabinoid extraction process. With a growing supply chain and increasing consumer demand for derivative products, being able to cost effectively extract cannabinoids at an industrial scale will allow us to have a significant competitive advantage over competing extraction technologies."
Formulations at Northern Vine LabsTM
The team of scientists at Northern Vine, led by Dr. David Galvez, have begun formulation efforts on a proprietary cannabinoid infused product for strategic marketing, with intended distribution as early as fall of 2017. The team has identified an array of unique ingredients and delivery methods for maximum bioavailability and product efficacy and has begun brand development and marketing efforts around this initiative.
Distribution at Vergence NaturalsTM
The relaunch of the Company's Sales and Marketing subsidiary, Vergence Visionary Bioceuticals ("Vergence"), is well underway. The Company has been evaluating and performing due diligence on several products to distribute through its established channels. Vergence will also be the exclusive distribution channel for proprietary products it intends to formulate at Northern Vine LabsTM.
Education and Awareness
The Sales and Marketing team at Northern Vine has begun the implementation of a series of outreach initiatives to further its educational knowyourmedicine campaign. Once live, the campaign will reach audiences through several mediums, including social media and print magazines. The Company remains committed to bringing awareness to the masses in this rapidly developing industry.
With the increased activity in its primary divisions, the Company has been working to add key positions to its management team in order to support the Company's aggressive growth targets. Key appointments will be announced once finalized in the coming weeks.
"I am very excited by the Company's rapid growth and pleased by the high level of talent the Company has been able to attract," said Mr. Abenante. "I believe we are well positioned and have the right people in place for continued growth of the Company."
About Abattis Bioceuticals Corp.
Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada (Dealers License) for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian cannabis market.
About Vergence Visionary Bioceuticals Corp.
Vergence, dba Vergence NaturalsTM, is a wholly owned subsidiary of Abattis, based in Vancouver, B.C., Canada. The Vergence team are bioceutical marketing specialists focused on health products to penetrate the fast growing market for natural, safe and effective natural products that meet unmet wellness needs.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
Robert Abenante, President & CEO
For more information, please visit the Company's website at: www.abattis.com or www.northernvinelabs.com.
For inquiries, please contact the Company at (604) 336-0881 or at firstname.lastname@example.org.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding the expected volume of services to be provided at the Northern Vine lab, the timing of results of testing of the Raybot machine, that the Raybot technology has the potential to significantly disrupt the cannabinoid extraction process and will allow the Company to have a significantly competitive advantage over competing extraction technologies, the timing of product initiatives to be formulated at Northern Vine lab, the expected reach of the Company's knowyourmedicine campaign, the Company's short and long-term growth plans, the Company's goal to become one of the premier companies in the cannabis sector, and the Company's plan to acquire exclusive intellectual property rights to agricultural technologies. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including that the Raybot technology may not work as expected or at all, the Company will be unsuccessful in developing new product formulations in the time expected or at all, the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues, the Company's competitors may develop competing technologies, changes in regulatory requirements and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where as a result of new information, future events or results, or otherwise, except as required by applicable securities laws.