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Abattis Bioceuticals Signs Cannabis Extraction Technology Distribution Agreement

April 26, 2017

 (Image Credit: Andres Rodriguez)

Vancouver, British Columbia--(Newsfile Corp. - April 26, 2017) - Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB: ATTBF) (the "Company" or "Abattis") is pleased to announce it has signed an exclusive distribution agreement effective April 20, 2017 (the "Agreement") with Suzhou Raybot Material Tech Corp. ("Raybot"). The Agreement allows Abattis to use Raybot's proprietary extraction technology and to exclusively sell the extraction equipment and services.

 

Raybot has developed a proprietary technology which utilizes industrial column chromatography to extract and separate a wide range of materials, in a continuous, closed loop system. This method, which is currently used in the mass production of extracts such as Ginkgo Biloba, Stevia and Ginsenosides among others, has been specifically designed for the extraction of legal cannabis derivatives such as Cannabidiol ("CBD"),Tetrahydrocannabinol ("THC") and Cannabigerol ("CBG") from Marijuana or Hemp. The technology has excellent processing capacity, high extraction yield and significant cost advantages over traditional methods.

 

The proprietary technology is capable of extracting CBD from Hemp to above a 99% purity level. The current methods using multi-staged CO2 extraction are significantly more expensive and limited in production scale. Raybot's extraction machines can be customized to any factory production scale. A factory with 5,000 kg per day processing rate is able to produce CBD at $0.20 per gram.

 

"This technology has the potential to revolutionize the extraction process for THC, CBD, CBG and other cannabis derivatives globally," stated Robert Abenante, President and CEO of Abattis. "Raybot's proprietary extraction method is currently one of the only toll processing technologies that can extract high purity CBD on an industrial scale. Furthermore, it could lead to the full separation of individual compounds and derivatives at significantly lower costs than today's widely used methods."

 

"We are eager to bring this technology to Abattis to verify its capabilities in our labs," says Dr. Will Panenka, Director of Abattis. Dr. Panenka, MD, is an assistant professor, neurologist, and psychiatrist with a pre-clinical and clinical academic research program focused on substance use and brain injury at the University of British Columbia.

 

Pursuant to the terms of the Agreement, Abattis has obtained exclusive rights to sell the machines, receive royalties and service licensed producers by offering toll processing and extraction. The distribution is exclusively licensed to Abattis in the territories of North America and Europe.

 

"This is the only extraction technology capable of processing industrial scale volumes of biomass and separation of individual compounds to any target purity levels," said Dr. Shuang Xie, Director of Abattis. "With this technology, products containing phyto-cannabinoids can become more cost-effective which would enable the production of affordable natural, functional products for consumers."

 

Northern Vine Update

 

The Company is also pleased to announce that its subsidiary, Northern Vine Canada Inc. ("Northern Vine") has now been added to the Health Canada websites' list of Licensed Dealers (see below for details). This further contributes to the Company's positive momentum as Northern Vine completes the final installations and calibrations of its state of the art machinery capable of analytical testing for a variety of medicinal marijuana products.

 

Mr. Abenante commented: "We have taken a big step forward in becoming a full service provider to Licensed Producers and end-consumers of medicinal marijuana products. The agreement with Raybot puts the Company in a position to be the leading provider of phyto-cannabinoid extraction products and services, and the launching of our lab will enable us to immediately generate revenue through providing analytical testing services to the Canadian medical Cannabis market and the future Recreational market."

 

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 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.

 

About Northern Vine Canada Inc.

 

Northern Vine Labs™ is licensed by Health Canada (Dealers License) for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian cannabis market.

 

For a listing of Health Canada's Licensed Dealers see:

 

 

https://www.canada.ca/en/health-canada/services/list-licensed-dealers.html

 

For more information, please contact info@northernvinelabs.com.

 

About Suzhou Raybot Material Tech Corp.

 

Suzhou Raybot Material Tech Corp., is a technology company with offices in Suzhou Jiangsu, PRC and Vancouver, BC, focused on the development of proprietary methods and processes for applications in nutraceuticals, bioceuticals, botanicals and other derivatives from biomass on a commercial scale. Raybot is founded by a group of engineers and technologists who had successfully built over thirty mass production lines to extract high purity ingredients such as Ginkgo Biloba, Coenzyme Q10, Stevia, Ginsenosides, Paclitaxel, EGCG and other extracts for use in commercial nutraceuticals, functional foods and cosmetics.

 

For more information, visit the Company's website at: www.abattis.com.

 

ON BEHALF OF THE BOARD

 

"Rob Abenante"
Robert Abenante, President & CEO


For further information, contact the Company at (604) 336-0881 or at news@abattis.com.

 

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. Forward-looking statements in this press release include statements regarding the expected results from the machinery to be provided by Raybot as well as the cost-savings anticipated from this extraction machinery, the Company's short and long-term growth plans, the Company's goal to become one of the premier companies in the cannabis sector, and the Company's plan to acquire exclusive intellectual property rights to agricultural technologies. 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, including that the equipment may not function as intended or the cost-savings of extraction may not be as significant as anticipated among other issues. Additional risk factors are included in the Company's Management's Discussion and Analysis available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results, or otherwise, except as required by applicable securities laws.

 

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