VANCOUVER, BC / ACCESSWIRE / April 10th, 2014 - Abattis Bioceuticals Corp. (the "Company" or "Abattis") (OTC PINK: ATTBF) (CSE: ATT), through its wholly owned subsidiary, Northern Vine Canada Inc. ("Northern Vine"), announces that it has entered into a share exchange agreement with Experion Biotechnologies Inc. ("Experion"). Pursuant to the terms of the agreement, Experion and Northern Vine have exchanged 25% of each parties' issued and outstanding common shares. Abattis maintains a 75% ownership in Northern Vine.
Experion is located in Greater Vancouver and is nearing the completion of its Marijuana for Medical Purposes Regulations "MMPR" licence application with Health Canada. Together, Northern Vine and Experion are well positioned to capitalize on the growing trend towards marijuana legalization in the U.S., and medical use in Canada as licensed producers.
Northern Vine, a lab and compounding pharmacy with patented compositions, owns various Natural Health Product licenses for use in the nutraceutical markets. Northern Vine has one remaining outstanding item to complete as required by Health Canada in respect of its controlled substance licence application.
It is anticipated that Experion will provide cannabis for Northern Vine's research and development activities upon receiving its MMPR licence. Experion will also allocate a portion of its 10 acre site for the expansion of Northern Vine's future processing facility and any expansion requirements needed to satisfy cultivation demand in the foreseeable future.
Mike Withrow, President and CEO of Abattis stated: "This is a strategic partnership that links our pending Controlled Substance Licence to another MMPR Application in order to further expand our business potential. This agreement provides the Company with more control of a broader variety of raw materials, for products derived from marijuana, to be processed at our planned botanical drug facility in Quebec. This partnership also creates synergy by joining cultivation with formulation sciences."
About Abattis Bioceuticals Corp.
Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its vertical cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company's website at: www.abattis.com.
About Experion Biotechnologies Inc.
Experion Biotechnologies Inc. is a team of innovators dedicated to producing, procuring, and providing medical products derived from Cannabis of superior quality in a consistent and timely manner to patients across Canada in accordance with Health Canada regulations. Its current facilities in the Greater Vancouver Area are ready to operate under strict guidelines with standardized operating protocols as a commitment to the quality patients require.
For further information, contact the Company's CEO, Michael Withrow at (604) 538-6650
or at [email protected].
NEITHER THE CSE 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 certain forward-looking statements that reflect the current views and/or expectations of Abattis with respect to the market and regulatory conditions for proprietary ingredients, bio-similar compounds, medical marijuana and our other products, our perceptions of the industry or markets in which we operate and anticipated trends in such markets and in the countries in which we do business. 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. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying the Company's expectations regarding forward-looking statements contained in this news release include, among others: that we will be able to effectively market our products; that Experion's application to Health Canada will be successful; that the relationship between the Company and Experion will achieve the expected benefits; and that Health Canada will continue to regulate Experion's business activities. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that Experion's application to Health Canada may not be approved, the regulatory or enforcement environment relating to Experion may experience adverse changes, and the relationship between the Company and Experion may not produce the expected benefits. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements, which are qualified in their entirety by this cautionary statement. Abattis does not undertake any obligations to release publicly any revisions for updating any voluntary forward looking statements, except as required by applicable securities law.
SOURCE: Abattis Bioceuticals Corp