6 Responses Abattis News | Health Canada | Northern Vine | Raybot

Vancouver, British Columbia / Newsfile Corp / May 3, 2017

Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) (the “Company” or “Abattis“) is pleased to announce that its subsidiary, Northern Vine Canada Inc. (“Northern Vine“), has officially launched its flagship laboratory, having completed its first successful test analysis.

“I am very pleased to announce this significant milestone in our Company’s development,” said Robert Abenante, President and CEO of Abattis and Northern Vine. “I am proud of our dedicated team for working diligently to make this day a reality.”

Northern Vine obtained a Health Canada Dealers’ License pursuant to the provisions of the Controlled Drugs and Substances Act and the Narcotic Control Regulations. On November 30, 2016, the Task Force on Cannabis Legalization and Regulation published a report which emphasized the importance of independent lab testing of all cannabis products.

“As Canada continues down the path to legalizing medical and recreational marijuana, quality regulation and health awareness are becoming more important than ever,” stated Mr. Abenante. “As large quantities of legalized marijuana enter the marketplace, comprehensive independent testing should be a cornerstone of the legislation.”

“Although it is our goal to provide the best and most efficient customer service for our clients, it is our primary objective to perform the tests using the highest possible standards available,” said Katie Maloney, Senior Scientist and the Qualified Person in Charge (“QPIC”) at Northern Vine. “Our lab will give clients the peace of mind of independently verified testing, while keeping their information strictly confidential.”

Northern Vine has already begun taking samples from select Licensed Producers (“LPs“) and is building a sales force to aggressively grow its client base. Located in the valley of Langley, BC, amongst a consortium of MMAR and ACMPR license holders, Northern Vine aims to establish itself as a first class testing and analytics facility by offering a convenient location, efficient turnaround times, unparalleled customer service and the highest quality testing program.

“Customer experience is very important to us,” said Dr. Jaclyn Thomson, PhD and Senior Manager of Operations at Northern Vine. “While being responsible for the quality assurance of testing methods and procedures, I am very cognizant of the customers’ needs. We will strive to deliver the highest standard of service in the industry.”

The Company’s Northern Vine laboratory solidifies another central piece in its vision to become a fully integrated medicinal marijuana company. Abattis continues to grow as a well-rounded biotechnology company now able to provide analytical research, development, extraction and testing services. Northern Vine has signed an agreement with a company in the last stages of becoming an LP and continues to entertain other joint-venture opportunities with LPs in Canada and abroad to further expand its reach in the cannabis market.

Abattis recently announced that it has signed an exclusive distribution agreement with Suzhou Raybot Material Tech Corp (“Raybot“). Raybot has developed a technology capable of extracting legal cannabis derivatives such as Cannabidiol (“CBD“), Tetrahydrocannabinol (“THC“) and Cannabigerol (“CBG“) from marijuana or hemp. Per the exclusive agreement with Raybot, the Company is able to sell the machines, receive royalties and service LPs by exclusively offering toll processing and extraction services of their technology. Raybot has provided results whereby CBD was extracted from hemp to an above 99% purity level. This is currently the only technology capable of producing industrial scale extraction at this purity level, without the use of CO2. Harnessing economies of scale, Raybot claims their technology is capable of extracting CBD at $0.20 per gram.

With these two significant milestones achieved, Abattis can begin to re-ignite its formulation division, which once boasted over 100 Natural Product Numbers (“NPN’s”). The Company has a sales division, Vergence Visionary Bioceuticals, (“Vergence”), that has a sales and marketing group with established distribution channels ready to market, sell and distribute newly formulated products from the Company’s Northern Vine lab. Vergence aims to promote healthy living through natural remedies and is developing new cannabis lifestyle products with plans to develop and distribute these products to global markets.

“There are revolutionary advancements in the medicinal community stemming from research into natural cures from the cannabis plant,” said Dr. David Galvez, Senior Science Advisor at Northern Vine. “Abattis is uniquely positioned to formulate and distribute innovative, high quality products which could potentially revolutionize the way we treat patients for a variety of pains and illnesses as well as to develop advanced nutraceutical and cosmetic products for high-end markets.” Dr. Galvez has a PhD. in Plant Physiology and a Bsc. in Botany.

“I would like to thank our loyal shareholders and many stakeholders for working with the Company over the past three years to achieve this very significant milestone,” says Mr. Abenante. “I believe this marks the beginning of new growth for the Company as it now transforms from a development company to a revenue and profit generating entity.”

About Abattis Bioceuticals Corp.

Abattis is a specialty agricultural technology and biotechnology company which aggregates, integrates, and invests in agricultural technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions.

About Northern Vine Canada Inc.

Northern Vine Labs™ is licensed by Health Canada (Dealers License) for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian cannabis market.

About Vergence Visionary Bioceuticals Corp.

Vergence Visionary Bioceuticals, dba Vergence Sales and Marketing Group, is a wholly owned subsidiary of Abattis, based in Vancouver, B.C., Canada. The Vergence team are bioceutical marketing specialists focused on health products to penetrate the fast-growing market for natural, safe and effective natural products that meet unmet wellness needs. For more information, visit the Company’s website at: www.abattis.com.

For more information, visit the Company’s website at: www.abattis.com or www.northernvinelabs.com.

Rob Abenante
Robert Abenante, President & CEO

For further information, contact the Company at (604) 336-0881 or at news@abattis.com.

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. Forward-looking statements in this press release include statements regarding the expected timing of opening of the Company’s lab, the activities to be undertaken at the lab, the Company’s short and long-term growth plans, the Company’s goal to become one of the premier companies in the cannabis sector, and the Company’s plan to acquire exclusive intellectual property rights to agricultural technologies. 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, including that the Company will not be able to open its new lab or execute its proposed business plan in the time required or at all due to regulatory, that the Raybot equipment may not function as intended or the cost-savings of extraction may not be as significant as anticipated among other issues. Additional risk factors are included in the Company’s Management’s Discussion and Analysis, 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 as a result of new information, future events or results, or otherwise, except as required by applicable securities laws.

Discussion: 6 Replies

  1. Patience pays. Welcome to Canada, Northern Vine! It’s also exciting to learn they’re already signing contracts. Just as the CEO said above, by generating revenue, this company will be turning a very positive corner.

  2. I have honest question for you guys. This William panenka got 500000 shares last month and keeps selling them. See what I found

    Abattis Bioceuticals Corp (TSE:ATT) Director William Panenka sold 73,500 shares of the business’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of C$0.29, for a total transaction of C$21,315.00.

    On Thursday, March 30th, William Panenka sold 90,000 shares of Abattis Bioceuticals Corp stock. The shares were sold at an average price of C$0.20, for a total transaction of C$18,000.00.

    and has he sold even more? We should know soon. My question is does this scare you? Why does this director keep selling? Hes making the company look bad.

    1. Right?? if this impatient dinglefritz would stop dumping shares attbf could actually go back to a quarter. These directors need to learn to stop hurting their own company I mean COME ON!!!!

    2. Hello Slew.

      I believe William Panenka is strictly receiving shares as compensation for his time and services. This is a fairly common arrangement with startup companies that do not yet have cash available to pay employees. For Abattis, this is probably a more viable option than taking on debt.

      If Mr. Panenka’s primary occupation is serving as an Abattis Director at the moment, it’s not surprising or even concerning to see him selling some shares. Think of it as him cashing a paycheck to pay for his necessities. The key difference is that he has to sell shares on the open market to immediately convert his paycheck to cash. Yes, unfortunately this can affect the stock price short term. Long term, I don’t expect it will make a difference, as the stock price will reflect the company’s accomplishments and not the amount of shares exchanging hands.

      – G.K.

    3. I was looking at this the other day. I don’t like the selling either, especially because it’s not clear what many in management, including Panenka, were doing to earn those 100’s of thousands of shares.

      Rene David reported the shares were provided for “additional efforts and ongoing commitment..during and after the time of the recent cease trade along with the additional time and attention required by each director.” The cease trade occurred because Abattis was late in filing financials.

      So yeah.. I understand the frustration. Almost feels like Rene handed these shares over as a “Thanks for sticking around and not letting us drown” gesture, when this is something that probably should have been prevented in 2016 IMHO.

      I do think what GK said is right. Check the financials. Abattis has no revenue and no heaps of cash to keep a large payroll going. I’m fine with this, as long as they start producing revenue and Rene David or Robert Abenante don’t get in the habit of passing out shares like free samples at the supermarket.

      1. Thank you both. It makes sense i just didn’t like the looks of the same guy selling so many shares so often you know? i will not be happy if we start seeing a million shares sold by them each month

Leave a Reply

Your email address will not be published. Required fields are marked *