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Abattis Removed From BCSC Temporary Order
VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp (the “Company” or “Abattis”) (CSE:ATT) (OTC:ATTBF) is pleased to announce that the temporary order from the British Columbia Securities Commission (“BCSC”), issued on November 26, 2018 (the “Order”), has not been extended against Abattis.
“Abattis is very happy with the BCSC’s decision to remove the Company from the Order such that Abattis can continue to focus its efforts on revenue generation and building shareholder value” stated Rob Abenante, President and CEO of Abattis. “The Order caused very negative sentiment towards Abattis, and with the Order lifted we are hoping to see that sentiment and confidence towards the Company be restored. Abattis will continue to cooperate with the BCSC and Canadian Securities Exchange as much as necessary to ensure the highest level of governance and transparency as it strives towards building a first class portfolio of assets in the cannabis industry” added Mr. Abenante.
About Abattis Bioceuticals Corp.
Abattis is positioned to be a leader in the cannabis industry as a fully integrated medicinal cannabis company. The Company’s flagship cultivation asset is located on beautiful British Columbia’s Gabriola Island. Starting with 26,000 square feet and expandable across 8 acres, our Gabriola Green Farms Inc. (“Gabriola”) facility plans to grow medical-grade marijuana as well as select craft strains of infamous “B.C. Bud”. In addition, Abattis has been aggressively building its portfolio of complimentary assets which includes the acquisition of 140 genetic strains and the acquisition of NutriVida, a fertilizer company which offers a robust portfolio of fertilizers and nutrients, custom formulated for the emerging cannabis market.
Abattis has also continued to organically grow its products and services divisions as it strives to become one of the industry’s most dynamic vertically integrated cannabis companies. This ranges from its Abattis-branded vaporizer line, now sold nationally in Shefield and Sons, to the recent launch of its first proprietary cannabinoid therapeutic, COMFORT™, formulated to treat chronic pain and inflammation. Abattis also continues to service the cultivation industry through its preferred service agreements with Northern Vine Canada Inc., a licensed laboratory which was recently sold to Emerald Health Therapeutics Inc., and Dicentra Inc., one of Canada’s largest regulatory advisory firms.
To further its reach into the cannabis space, Abattis has made several strategic investments to ensure it has a piece of key evolving areas as the industry matures. One such investment is into cutting-edge research performed in partnership with the University of British Columbia and Mitacs, to research and develop nanoemulsified cannabinoid-rich hemp oil, as well as continuing to develop cannabinoid-infused products such as cannabinoid-rich beer and infused sunscreen. Abattis has also made key investments into XLABS Therapeutics (ONT) Inc., building one of Canada’s largest cannabinoid manufacturing labs as well as into certain blockchain service and cryptocurrency platforms solely focused on cannabis product and service transactions.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
Robert Abenante, President & CEO
For more information, please visit the Company’s website at: www.abattis.com
For inquiries please contact (808) 650-3007 or at email@example.com. Abattis’ investor relations are managed by Canada One Communications Inc.
About Canada One Communications Inc.
Canada One Communications Inc. (“Canada One”) is a full-service Investor Relations and Marketing company that focuses on both private and public sectors within the Canadian markets. Canada One offers timely responses to all investor inquiries over several mediums and effective, thorough market awareness programs that are specifically designed to maximize exposure and bring value to shareholders. Canada One’s dedicated and experienced team strives to promote client information to the public and educate potential investors on the various developments of its clients. From basic phone-call and email investor correspondence, to full-scale comprehensive marketing packages which includes industry analysis, website development, corporate videos and other marketing programs, Canada One provides a full suite of services that are fully compliant with Canadian securities regulations. Canada One is driven by an uncompromising dedication to provide publicly listed and private companies with across-the-board investor relations and marketing solutions, directly translating these services into organic growth and increased market value of its valued clients.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words including but not exclusive to “anticipate”, “promising”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intends”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include, statements regarding: (i) the restoration of market confidence in the Company following the BCSC not extending the Order against Abattis; (ii) the Company becoming a fully-integrated medicinal marijuana company; and (iii) that the Company will be able to generate increased shareholder value. 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 these 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 including: that the Order issued by the BCSC will have an ongoing negative material effect on the Company; that the Company will not be well capitalized; that the Company or the Company’s wholly-owned subsidiary, Gabriola Green Farms, will not receive the necessary regulatory approvals for its current or future products and operations; that the Company will not see revenue growth at all or as anticipated; changes in regulatory requirements; and other factors beyond the Company’s control. Additional risk factors are included in the Company's filings available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.