Vancouver, BC / ACCESSWIRE / August 6, 2014 / Abattis Bioceuticals Corp. (the "Company" or "Abattis") (OTCQX: ATTBF) (CSE: ATT), 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, today announced that Biocube Green Grow Systems Corp. ("Biocube"), its wholly owned subsidiary, entered into a worldwide non-exclusive licensing agreement with TerraSphere Systems LLC ("TerraSphere") for the company's proprietary and patented vertical farming technology. The TerraSphere license complements Biocube's previously announced sublicensing agreement for Vertical Design Ltd.'s ("VDL") vertical farming technology.
The TerraSphere patented technology leverages hydroponic greenhouse functionality with novel and unique vertical growing components to increase plant production tenfold per square foot as compared to traditional field farming. The increased yields allow for up to 20,000 plants per 120 square feet, for example. Demonstrating its leadership position in the emerging vertical farming industry, in June TerraSphere announced a joint venture agreement to further develop its proprietary technology for use with organic indoor farms for rapid and efficient growth of leafy green vegetables.
"Now that we hold worldwide licensing agreements to both the VDL and the TerraSphere proprietary vertical growing technologies, Biocube is able to grow any plant intended for consumption or for use in the pharmaceutical, neutraceutical, cosmetic, and wellness markets 24 hours a day, 7 days a week, 365 days a year, anywhere in the world," said Abattis Bioceuticals Corp. CEO Mike Withrow. "These recent acquisitions, in combination with Biocube's existing MgO Board(TM) technology -a fireproof, antimicrobial, antibacterial, waterproof, and recyclable building material--innovative LED growing lights, highly energy efficient customizable and automated climate control system, anti powdery mildew system, anti-odor system, and an advanced dissolved oxygen water system, have positioned the company to become a worldwide leader in the rapidly expanding worldwide vertical farming industry."
Terrasphere's current intellectual property portfolio consists of 4 patents and 1 patent application pending. The Company`s patents and patent applications have been developed internally over the last 10 years at a cost of over ~ $5 million U.S. For more information, visit: www.terraspheresystems.com
About TerraSphere Systems LLC
TerraSphere Systems (www.terraspheresystems.com) is dedicated to building highly efficient systems for growing organic fruits and vegetables in a controlled indoor environment. TerraSphere's clean technology helps to promote the sustainable consumption of natural resources by accelerating plant production and maximizing crop yields, while improving environmental footprints through the reduction of carbon emissions and fuel use associated with traditional crop production and distribution. TerraSphere's unique, environmentally and socially-responsible business model helps to facilitate job creation and diverse, community-based workforces. TerraSphere believes its technology can potentially revolutionize access to organic produce for both remote and urban communities, alleviate land management issues for agricultural producers, and ease hunger crises for the world's growing population.
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 mass 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.
ON BEHALF OF THE BOARD
Michael Withrow, President & CEO
For further information, contact the Company's CEO, Michael Withrow at (778) 896-6536 or at [email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY 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.