Abattis Announces an Amendement to Their Private Placement
March 16, 2015 (Source: Abattis Bioceuticals Corp.) — Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), a specialty biotechnology company with capabilities through its wholly-owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America, would like to announce an amendment to their proposed private placement of up to $310,000.
Under the terms of the Private Placement, Abattis will issue up to 2,384,615 Units. Each Unit will consist of one Common Share at $0.13 per share, and one full Share Purchase Warrant. One Warrant will be exercisable into one Common Share at a price of $0.18 per Common Share. The expiry date for the exercise of the Warrants will be 18 months after the closing of this Unit Offering. The Warrants will contain an acceleration component whereby Abattis will have the right to call for the exercise of the Warrants if the Common Shares of the Company closes above $0.35 per share for a period of 10 conservative business days after the four month and one day hold period expires.
Proceeds of this offering will be used for acquisitions, joint venture opportunities, research and development, marketing, working capital, general corporate purposes and a portion of the funds will be for marketing and distribution of its selected products.
The offering of the Units is expected to take place on or about March 18, 2015. Abattis will issue a further press release announcing when the closing has taken place. The Shares will be subject to a Canadian resale hold period expiring four months and one day from the closing.
The Board of Directors of Abattis wishes to acknowledge the support of investors who have shown confidence in the business plan that Abattis is executing in this exciting new sector of the economy and capital markets.
About Abattis Bioceuticals Corp.
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Abattis is a specialty biotechnology company with capabilities through its wholly-owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its mass cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company’s website at: www.abattis.com.
ON BEHALF OF THE BOARD
Bill Fleming, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.
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