VANCOUVER, BC / ACCESSWIRE / April 25, 2016 / Abattis Bioceuticals Corp. (OTC PINK: ATTBF) (CSE: ATT), (the "Company" or "Abattis"), today announced that Michael Yung has been named as Chief Executive Officer (CEO) of Abattis Bioceuticals Corp, effective April 18, 2016. He will succeed William (Bill) Fleming, who has resigned his role as CEO and Director to pursue other business interests.
"I'm honoured, and I'm grateful to the Board of Abattis for the opportunity to lead the next exciting phase of this highly innovative company," said Mr. Yung. "We are focussed on developing and delivering a range of high-quality products for the rapidly expanding natural health, nutraceutical and biopharmaceutical markets. What is particularly exciting in this area will be the launch our own range of products that will utilize our proprietary PHYTO[NOS]™ formulation. Additionally, we are moving into premium scientific services including analytics, testing and product formulation and further developing our capabilities in support of the production and extraction of botanical ingredients, one of which includes cannabis."
It is estimated that the current global nutrition and supplements market is worth in excess of US$100 billion with an expected compounded annual growth rate between 6% and 7%.
Mr. Yung is an accomplished professional with over twenty years' experience in the pharmaceutical and medical technology sectors. Prior to joining Abattis, he held a variety of senior positions with Device Technologies, a large privately held business engaged in the sales and distribution of high-end medical technologies and services. These positions included management responsibility for organizational development strategy and implementation with a focus on corporate learning; as well as senior sales management roles focused on improving sales force strategy, effectiveness and capability. Mr. Yung joined Device Technologies from the pharmaceutical industry, where he held senior management positions with both AstraZeneca and GlaxoSmithKline. Mr. Yung has experience in international markets including Australia and New Zealand; and holds a Bachelor of Exercise & Health Science from the University of Queensland as well as professional certificates in Workplace Training and Integrated Talent Management.
"The Board would like to thank Bill Fleming for his contributions to Abattis. Bill joined the Company during a time of transition and provided the guidance necessary to help the company crystallize its strategy and product development."
The Company also announces that on April 19, 2016 1,200,000 common shares were issued as compensation for services to consultants of the Company, no legend was required on any of the issued shares.
ON BEHALF OF THE BOARD
"Rene David"
Rene David, CFO
For further information, contact IR for Abattis Bioceuticals Corp. at (604) 568-8868 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.
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.
SOURCE: Abattis Bioceuticals Corp.