Abattis Bioceuticals Corp.: Corporate Update
November 5, 2015 (Source: Abattis Bioceuticals Corp.) — Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), would like to provide an update to its shareholders. The Company believes a positive new landscape might be on the horizon with the win of Justin Trudeau and his vow to legalize cannabis.
In an article published in The Province, October 20, 2015, Aaron Salz, an analyst in Capital Markets for Dundee was quoted saying “The Canadian marijuana space could be set for another revolution following the Liberal Party victory,” Salz said. Trudeau’s vow to legalize and regulate marijuana the “right way” has set in motion the single most important catalyst for the industry.” With this important change in the political landscape, the Company believes it is well positioned as a value added ingredient and product company to take advantage of Federally sanctioned activity in Canada and the US.
For more information the full article can be found at
Abattis Management Team Continues to aggressively pursue strategic downstream partnerships for its formulated product lines. It is the Company’s belief that the functional food and natural health products industry experienced huge growth in the mid 2000’s and continues to experience good growth today. In 2011, Canadian companies reported annual revenue totaling more than $16 billion dollars. One factor of this growth may be supported by a significant increase in the world’s aging population, It has been estimated that the world market for functional foods and neutraceuticals may reach $241.25 billion in 2015 and the functional foods ingredients market may reach $2.5B by 2020.
Key market prospect areas for dietary supplements continues to be for improving conditions associated with aging, as well as those that have feel-good properties (those that when taken make the consumer feel better). The baby-boomer generation is still the largest segment of the population, and as they age and experience more age-related health problems, they will continue to seek dietary supplementation for improving their health.
Abattis is well positioned to establish itself as a product pipeline company in the functional food and natural health products industry. Abattis has developed 10 products;
- 4 have completed R&D in their “regular strength” formulation;
- 1 product has been submitted for NPN licensing with Health Canada (PhytoNOS ingredient); and
- Comfort and Soothe Regular Strength have completed Claim Substantiation for sale in the USA.
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Further, Abattis is seeking CBD Industrial Hemp suppliers within the USA that can be used for future CBD formulated products in the food and beverage industry. If the legal and regulatory framework is available, the Company plans to launch a “super strength” version of their above listed products but incorporating CBD and/or Hemp where it is reasonable.
The Company wishes to announce that they will be issuing shares for debt to two parties, one is an arm’s length consultant and the other is a named officer of the Company, for services rendered during the last quarter of 2015. The Company plans to issue an aggregate of 493,590 common shares at a deemed price of $0.09/share as consideration for services provided to the Company.
The Company will further be issued 375,000 common shares at a deemed price of $0.09/share to advisors, consultants, and directors.
The Company has also issued shares for debt to EROP Capital, LLC (“EROP”), order to settle some of the the Company’s payables. The parties agreed that the Company shall issue to EROP shares of the Company’s common stock (“Common Stock”) until EROP’s total gross sales of such Common Stock equal $112,039.13, as well as 285,000 shares of Common Stock to cover certain fees and expenses incurred by EROP during the settlement process (collectively the “Settlement Shares”), that when issued hereto, the Settlement Shares shall be freely tradable without legend or restriction pursuant to Section 3(a)(10) of the Securities Act of 1933 and shall be validly issued, fully paid and non-assessable shares.
The Company is pleased to announce that after joining the Board of Directors September 1, 2014, Mr. Barry Comis has adjusted the role that he would play within the Abattis team. He has stepped down from the Board of Directors, effective September 29, 2015, to take a more active consulting and advisory role within the Company. Given Mr. Comis’ expertise in extraction and formulation, the Company believes he will be a natural fit and an important addition in taking our products to market.
The Company is pleased to announce that it has reached a settlement in its ongoing litigation involving John Gregory Dennison and Integra Construction Ltd., a former consultant of the Company, in respect of outstanding payments for services owing by the Company.
About Abattis Bioceuticals Corp.
Abattis is a specialty biotechnology company that aggregates, incubates, integrates, and invests in the botanical drug development industry. The Company develops and licenses natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets — some of which will contain cannabinoid compounds. 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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