VANCOUVER, BC / ACCESSWIRE / February 24, 2017 / Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CNSX: ATT) ("ATT" or the "Company") is pleased to announce the completion of their annual audit. The delay in filing was due to an eventful year with new programs coming online and an aggressive strategy to cut non-core assets resulting in prolonged consolidations and subsequent review.
Management has been focusing their efforts on their Northern Vine Lab buildout after receiving their controlled substance dealers license ("CSL") in 2016. The lab setup has been expedited and is now approximately 45 days away from opening its doors to licensed producer and MMAR patient customers for cannabis testing and analytics. Issues surrounding quality control and massive cannabis product recalls from licensed producers by Health Canada have recently taken headlines in the press. Northern Vine Labs is strategically positioned in Langley, British Columbia and holds a considerable geographic advantage over their few competitors as the region has many MMAR growers looking to prove their products' quality.
Northern Vine Labs has the necessary licenses and controls in place to legally possess and work with the raw herb (cannabis) and its active ingredients. The company will provide analytical R&D and quality control testing on a large variety of cannabis based products, screening for cannabinoids, terpenes, microbiological contaminants, pesticides and residual solvents. The license also allows Northern Vine to formulate new products for licensed producers in Canada.
Updates: Since last week's release, Abattis, through its subsidiary Vergence Bioceuticals, delivered their first order, consisting of three pallets of Green Nature's dried berry products, to Sunrype. Although modest in size, this marks the beginning of Green Nature's sales cycle in what looks to be a busy year filled with trade shows and selling.
Lastly, negotiations with Raybot Science Co. and Abattis China Co. (a wholly owned subsidiary of Abattis) have been progressing well and Abattis will soon be testing Raybot's patented extraction methods in Canada. Raybot claims that its technology will allow for pure isolate derivatives of the Cannabis plant to be extracted at a fraction of the cost and in one seamless process as opposed to the 2-3 step extraction methods of CO2. Abattis continues to perform due diligence on this opportunity and will keep investors updated on their progress.
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 also 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. For more information, visit the Company's website at: www.abattis.com.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purposes of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the Canadian market.
About Vergence Visionary Bioceuticals Corp.
Vergence Visionary Bioceuticals, dba Vergence Sales and Marketing Group, is a wholly owned subsidiary of Abattis Bioceuticals Corp. 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.
About Green Nature Health Care Products
Green Nature Health Care Products Inc. (http://www.green-nature.ca/en/) was established in 2012 by Jasmine Guan. The main market is the local travelers and immigrants, wholesalers. Over 400 customers have been obtained in China since the end of 2012 on dried blueberry and cranberry dried products, including the Wal-Mart chain supermarket and more than 200 to import and export food-based industry chain supermarkets. Green Nature has customs clearance through six cities in China: Shanghai, Nantong, Qingdao, Tianjin, Guangzhou, Hong Kong.
"Rene David"
Rene David, CFO/COO
For further information, contact the Company at (604) 336-0881 or at [email protected].
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Abattis Bioceuticals Corp.