VANCOUVER, BC / ACCESSWIRE / January 16, 2017 / Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CNSX: ATT) (the "Company" or "Abattis") provides an update to its shareholders.
Abattis Bioceuticals Corp. has begun an independent valuation on Green Nature Health Care Products Inc. after the company posted strong performance within their existing and upcoming product catalogue in both Q3 and Q4 of 2016. Green Nature, with which Abattis entered into an international licensing and co-branding agreement back in November of 2016, continues to import it's branded dried-fruit products to some 200 food based supply chains in China, including Shanghai Duty Free (five stores), Yangzhou Pharmacy (20 stores), and Wal-Mart (388 stores). Green Nature's products are also found in Canada at TNT Markets and ~50 healthcare product stores.
Green Nature recently received a purchase order from a large Japanese supplier (250 national stores) for monthly container shipments of Green Nature's signature dried fruit products. Green Nature has also started final packaging on several new product lines, including Hemp and Granola products, which the company plans to reveal through its busy tradeshow and sales schedule in 2017. As a result of these developments, Abattis has begun an independent valuation on Green Nature's business in order to determine its suitability as a strategic acquisition target. The initial agreement between Green Nature and Abattis gives Abattis the right to acquire Green Nature, by issuing common stock, if the opportunity should be deemed as accretive to Abattis by the board.
Additionally, Vergence Visionary Bioceuticals Corp., doing business as Vergence Sales and Marketing Group, a subsidiary of Abattis, has entered into an MOU with VitaminGum to expand their sales channels into the South Korean Market through Global Damon Pharma ("GDP"), with whom Abattis has sales and distribution agreements in place for their proprietary products, and those under exclusive license to Vergence/Abattis.
The "Functional Food" segment is expected to grow at a CAGR of 6.84% between 2016-2022 and represents a quarter of the Global Nutraceutical Market, which is projected to reach $302.31 billion by the end of the same period. Abattis, through its wholly owned subsidiary, Vergence Sales and Marketing Group, is strategically positioned to capitalize on this trend and has planned for an aggressive sales schedule in the Asia-Pacific region for 2017.
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 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.
ON BEHALF OF THE BOARD
"Rene David"
Rene David, CFO, Acting CEO
For further information, contact the Company at (778) 883-7869 or at [email protected].
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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SOURCE: Abattis Bioceuticals Corp.