Abattis secures $25M funding from Dutchess Capital for cannabis M&A and development
February 19, 2015 — Tracy Weslosky, Publisher of InvestorIntel speaks to Bill Fleming, CEO and Director of Abattis Bioceuticals Corp. (“Abattis”) (CSE: ATT | OTCQX: ATTBF) on the recent US$25 million equity line facility agreement announcement with Dutchess Opportunity Fund, II, LP (“Dutchess”). Further discussions on Abattis initiatives towards investment, incubation and technology partnerships as a fully vertically integrated company in the rapidly expanding botanical drug and product development market.
Tracy Weslosky: : Thank you so much for joining us today and congratulations on your new role as CEO. And, of course, you had really big news last week $25 million dollar line of equity. Can you talk to us about that?
Bill Fleming: Absolutely. With Abattis we’re pretty excited about working with Dutchess. Dutchess is a global investment firm and we’ve been working with Dutchess now for the last few months to see how we can move forward with them on some of our initiatives. Again, it’s an equity line of credit and it’s something we have the ability to be able to tap into at the right time. Obviously, as we move forward our company we’re pretty excited some strategic opportunities that are out there and deal flow being one of them. That’s for sure.
Tracy Weslosky: Of course, all of the InvestorIntel audiences, I know a lot of us have been scratching our head on the cannabis and medicinal marijuana market. If you could just back us up and explain to our audience who Abattis Bioceuticals is.
Bill Fleming: Well, as a company today we’ve got many lines that from a product side, but we’re also involved in the investment. We’re involved in incubation. We’re involved with technology partnerships. We see ourselves as wanting to be a company that’s vertically integrated. As we move forward into certain areas we’re going to look at new technologies and new companies to either acquire or partner with on a go forward basis.
Tracy Weslosky: What does that mean for Abattis?
Bill Fleming: Well, what it means for Abattis is that we’ve actually got a good portfolio of companies. What we’re doing now is we’re looking at the realignment of some of these companies to make sure that there’s some synergies between them. Ultimately where we see ourselves moving as a company is that we want to move further up the food chain. We see ourselves as moving more into the botanical space. Botanical is what we call the new wave of pharmacy. We see ourselves differentiating ourselves and anyone else that’s out there because we have been pretty fortunate in finding some technologies, finding some great people, being able to work with some great financial partners. We foresee ourselves over the next few months as a company that’s going to be more strategically aligned to go after the cannabis industry.
Tracy Weslosky: So I received a lot of phone calls about your company when you received this $25 million dollar line with, who is this company and how did they manage to secure this. Can you talk to me a little bit about this? Does this have to do with management because you do have an impressive executive backgrounds?
Bill Fleming: A lot of it comes down to relationships. If I was going to give anybody credit it would have to be our chief operating officer, Rene David. Rene’s been the guy that’s been out there pounding the streets getting the Abattis message out there. Where we are today is basically as a result of his relationships. Obviously, Dutchess is a great company…to view the rest of the interview, click here
Disclaimer: Abattis Bioceuticals Corp. is an advertorial member of InvestorIntel.
Tracy Weslosky is the founder and CEO for InvestorIntel Corp. (2001-Present), a leading online source of investor information that since 2001 has provided public market ... <Read more about Tracy Weslosky>