Abattis Bioceuticals Investor Update for Q2 2015
April 28, 2015 (Source: Marketwired) — Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (CSE:ATT)(OTCQX:ATTBF), a botanical drug development company that develops and licenses natural health products, medicines, extractions and ingredients for the pharmaceutical, nutraceutical, bioceutical and cosmetic markets – some of which will contain cannabinoid compounds, today announces a press release to update its current shareholders.
Our primary strategy is to align with or acquire like-minded companies that support our botanical drug development efforts in the most efficient manner. Abattis has two focuses: Product sales through the research, development and sale of nutraceutical products; and the development of botanical drugs. The extraction, refining and sciences divisions of Abattis all form the botanical drug development divisions. The BioExtracts division is being re-aligned to fit into the extraction and refining category to couple it with our already existing labs and intellectual property.
Abattis would like to update Investors on work underway at the Company and the status of work under the Company’s wholly-owned subsidiaries and partners. The Company is currently;
- Evaluating current assets;
- Awaiting Northern Vine’s rebranded websites to go live;
- Expecting Biocell to bring products to the direct sales market;
- Working through the research and development (R&D) at Biocube following a successful growth trial run;
- Holding a future pipeline of product opportunities in IJuana; and
- Assessing the use of the Phytalab business model for deployment into Northern Vine.
Since 1997, the Company has actively purchased assets and intellectual property. Currently the assets are at various stages of development. Abattis’ management is actively reviewing all of the Company’s assets and opportunities while assessing their alignment with the Company’s positioning in the nutraceuticals industry, with core assets being evaluated on their ability to provide revenue generation in the near term. Assets that do not fit into Management’s core focus are being reviewed for disposal. Disposing of the non-core assets will lead to additional value by better positioning the Company. Abattis is working to position itself as a leader in the botanical medicine field, with a focus on pain management.
Abattis’ wholly-owned and partner companies are completing business plan reviews, which have led the company toward a rebranding effort commencing with updated websites. The Experion Biotechnologies Inc. (Experion) and Northern Vine Canada Inc. (“Northern Vine”) websites will be going live in the near term (www.northernvine.ca). Abattis’ main website and it’s additional subsidiaries websites will be revised as the company’s assets are repositioned.
Abattis, through our wholly-owned subsidiary Biocell Labs Inc. (“Biocell”), intends on bringing several products to market. Currently, Biocell has 10 new natural product formulas that are near market, as they await pending patents and NPN numbers. These products will include cannabinoid compounds in US jurisdictions where permitted. Biocell will not be marketing any of these products direct to retail. Biocell has established relations to facilitate its strategy to develop proprietary product formulations for rebranding and marketing by others. By developing branding and marketing partners, Biocell will save time and money while not losing focus on other objectives. The capital saved will allow Biocell to generate future products based on existing intellectual property. Capital and attention spent on research and development (“R&D”) will result in the development of future products. Biocell is currently preparing additional detailed information on each of the 10 products, which will be disseminated, as it is available.
Get our daily investorintel update
Biocell is also readying its patent pending Nitric Oxide product in a unique delivery system to bring it to the marketplace. Nitric Oxide has been proven in studies, conducted by parties unrelated to the Company, to promote blood flow and is a signaling molecule for cardiovascular health.
Biocube Green Grow Systems (“Biocube”) is the Company’s proprietary grow chamber using MgO board, an anti-microbial product. Over the last 6 months Biocube has gone through several successful trials of the proprietary grow chamber with both Ocimum tenuiflorum (i.e., “Holy Basil”) and Arabidopsis. Both trials were successful and allowed Biocube to further refine design specifications. Biocube is currently performing R&D testing for yield and analysis purposes, as a follow up to the two products mentioned above. Biocube plans to relocate the proprietary grow chamber to a i-502 location in Washington state in the near future and is preparing to sell grow systems that are ready for market. Biocube’s goal in relation to this product remains to develop a superior sustainable growth chamber for use in the medical marijuana industry as well as produce markets.
iJuana Cannabis Inc. (“iJuana”) serves two purposes within Abattis. iJuana currently holds extra production capacity for future production at a site in Squamish BC, which is properly zoned. Federal licensing applications are still pending, and as a result iJuana is currently holding Biocube’s inventory of proprietary grow chambers in place. iJuana is also the holder of an additional 78 licensed natural health products (under the name Animo Wellness Corporation on Health Canada’s website). The natural product numbers (NPNs) found on Health Canada’s website are active and embody future products for iJuana.
Phytalab is a licensed I 502-testing lab in Washington State. Currently, Abattis management is in the process of recognizing Phytalab’s core values and profit generating potential. Phytalab is able to test for heavy metals, foreign material screening, moisture content and microbial burden, making it an integral part in testing marijuana suppliers. Phytalab is not simply a medical marijuana testing facility; rather, it has an expansive profile of services including the testing of a wide variety of botanicals, research and development activities, genetic identification, and publication of standards through Abattis affiliated laboratories. Northern Vine intends to become a similarly positioned lab in Canada that tests products and raw materials to Health Canada’s standards. Abattis will expand our Labs into different countries and states, once our brands are established.
There are other potential divisional developments that will be discussed in the future. Management felt that this update could serve to clarify some of the existing investor questions. Management is also looking into holding an annual investor conference call at a later date that can be dial in.
The Company wishes to announce that pursuant a consulting agreement with arm’s length parties, it has issued an aggregate of 72,414 common shares at a deemed price of CAD 0.145/share as consideration for services provided to the Company.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>