VANCOUVER, BC / ACCESSWIRE / November 14, 2016 / Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) (the "Company" or "Abattis"), is pleased to announce the appointment of Dr. Shuang Xie to the Board of Directors. Dr. Xie recently joined Abattis as the Chief Technology Advisor and continues in that capacity. Abattis is also pleased provide an update on its initiatives in China.
Our new director, Dr. Shuang Xie has been diligently working in China to increase the profile of Abattis Bioceuticals and working toward establishing exclusive venture partnerships.
Dr. Xie was instrumental in bringing the Green Nature deal to Abattis which will increase our profile in the food and nutraceutical industry in Canada, China, Taiwan, South East Asia and Japan. Green Nature is contracted to bring in revenues from existing sales channels in Asia. She is mandated to maintain revenue through existing channels and provide new revenue streams with our nutraceutical formulations.
For the past few months, Dr. Xie has been working toward commercialising the advanced proprietary technology for the extraction Cannabinol ("CBD") and Tetrahydrocannabinol ("THC"). She is establishing relationships to serve the advancement and completion of the extraction technology for commercial use in North America. It is expected that agreements for the use of the technology will be finalised in early 2017.
In concert with our efforts in Canada in our Langley testing lab and the potential for a Health Canada production license for Experion, this extraction technology will provide another layer of integration for Abattis. The Company is performing on its business plan to provide rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company's operating protocols, adhere to the applicable laws of Canada and foreign jurisdictions.
The Company also wishes to announce that it has issued 1,142,857 Common Shares to a consultant of the Company in satisfaction of sums owed. The shares were purchased under an exemption from prospectus requirements contained in s. 2.24 of NI 45-106 provided to employees, officers, directors and consultants of an Issuer.
Lastly, the Company announces that it has issued 485,434 common shares as compensation for services to consultants, directors and employees of the Company for the month ended October 31, 2016 and in respect of shares issued pursuant to the appointment for Dr. Panenka to the board of directors, no legend was required on any of the issued shares.
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.
ON BEHALF OF THE BOARD
"Rene David" Rene David, CFO, Acting CEO
For further information, contact the Company at (604) 336-0881 or at firstname.lastname@example.org.
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. NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.