Abattis Closes Non-Brokered Private Placement for C$525,000
December 3, 2015 (Source: Abbattis Bioceuticals Corp.) — Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), a Company that develops and commercializes natural health (nutraceutical) products and conducts research and development to create plant-based (botanical) intellectual property and ingredients for the pharmaceutical, nutraceutical, bioceutical and cosmetic markets – some of which will contain cannabinoid compounds, would like to announce that it has closed the non-brokered private placement for 10,500,000 units (“Units”) at a price of $0.05 per Unit (the “Financing”). Each Unit consists of one common share and one common share warrant (each, a “Warrant Share”) of the issuer at a price of $0.07 per Warrant Share for a period of 24 months from their date of issue. The Units will be offered pursuant to exemption from the registration and prospectus requirements of applicable securities legislation. The Subscriber must be purchasing as principal or deemed under applicable securities laws to be purchasing as principal.
Finders’ fees of 8% on a portion of the gross proceeds received by the Company from the sale of Units sold pursuant to the Financing shall include cash of $29,000.00 and 320,000 warrants (“Agent Warrants”). Each Agent Warrant shall be exercisable in whole or in part at an exercise price of $0.07 for a period of 24 months from the closing of the Financing.
Proceeds of this offering will be used for the production and sale of NÖXX Botanical Blend natural health products, research and development, marketing, working capital, general corporate purposes. The Shares will be subject to a Canadian resale hold period expiring four months and one day from the closing.
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
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Bill Fleming, CEO
For further information, contact the Company at (604) 336-0881 or at email@example.com.
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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