Abattis Announces Co-Formulation with Vitagum(TM)
April 18, 2016 (Source) — Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB : ATTBF) (“Abattis”) through its proposed licensing arrangement with Crimson Capital Group (“Crimson”) is pleased to announce that a letter of intent to co-formulate gum products under the brand name VitagumTM has now been signed.
Once the arrangement has been approved by the Canadian Stock Exchange (the “CSE”), Abattis and Crimson will finalize plans to co- formulate new gum products containing Phyto(NOS)TM.
Crimson has acquired control of the Canadian distributor of Vitamingum™ products and also owns the trademark rights to Vitagum™. These products contain active ingredients that are developed to be readily released and absorbed as a delicious functional food, snack, or supplement. These ingredients include vitamins, herbals, minerals, and other nutrients that are good for the body and mind, ingredients that have targeted health benefits.
In June of 2015, The Pennsylvania State University, Department of Food Science Center for Molecular Toxicology and Carcinogenesis, completed a six-month study and published findings scientifically proving that products such as Vitamingum™ optimize nutrient and medicinal delivery via the oral cavity. Vitamingum™ is proven to release active ingredients within minutes to achieve rapid absorption and bioavailability.
“Crimson’s gum products are very exciting to us as a delivery mechanism for the all-natural, botanical ingredients in our formula,” says product developer Brazos Minshew. “Nutrient absorption begins in the mouth through buccal tissues and sublingually. Nutrition is delivered directly into circulation. It is the most rapid way to transport nourishment into your blood stream and on to every cell in your body. By combining VitagumTM with Phyto(NOS)TM, an all-natural patent-pending formulation that naturally supports nitric oxide levels in the blood stream, we will be able even more quickly and effectively to deliver a wide range of all-natural botanical ingredients to the blood stream.” Nitric oxide is a natural vasodilator. Phyto(NOS)TM supports Nitric oxide production and provides antioxidants that help protect against oxidative cell damage caused by free radicals. Phyto(NOS)TM has applications in a wide range of food, beverage and nutraceutical products.
Crimson is a related party in which Rene David, CFO of Abattis, has an ownership interest. The licensing arrangement and co-formulation partnership with Abattis is subject to the approval of Abattis’ Board of Directors, its shareholders, if applicable, and the CSE.
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ON BEHALF OF THE BOARD
Rene David, CFO
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. Forward-looking statements in this press release include that (a) Abattis will enter into the licensing agreement described above, (b) Crimson will assist Abattis in commercializing its products (c) Crimson will be responsible for marketing, selling and distributing a portfolio of Abattis products, (d) the parties will co-formulating and developing new products , (e) the licensing agreement will be subject to the approval of the Board, shareholders, if applicable, and the CSE (f) Crimson will secure initial capital commitments of up to $1 million, (g) Abattis will have the option of earning 50% of the profits from the partnership in consideration for common shares issuable to Crimson, or simply to earn a cash royalty of 2.5% on product sales, and (h) Crimson will be responsible for funding and staffing the proposed commercialization efforts under the licensing agreement. 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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