VANCOUVER, British Columbia, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE:ATT) (OTC:ATTBF) is pleased to announce it has signed a letter of intent (“LOI”) with the Alliance of Beverage Licensees (“ABLE BC”) to establish an exclusive complementary partnership in ABLE BC’s member stores.
British Columbia’s Alliance of Beverage Licensees (ABLE BC), is an advocacy organization representing BC’s private liquor industry, including private liquor stores, neighbor pub, and hotel liquor licensees.
The LOI outlines an exclusive agreement between Abattis and ABLE BC to offer expert technical advice regarding the commercialization of cannabis products sold in ABLE BC member stores and locations.
“We are very pleased with this strategic partnership,” said Rob Abenante, President and CEO of Abattis. “This partnership brings significant mutual potential for Abattis and ABLE BC given our role in Cannabis testing and ABLE BC’s potential role in Cannabis distribution."
Both parties have acknowledged that the Federal Government of Canada has introduced legislation to lift the prohibition on adult-use of recreational cannabis, and that each provincial government bears responsibility for deciding how recreational cannabis is retailed and distributed within its borders.
"We foresee this partnership in the cannabis industry a key part of our future. We feel that testing services provided by Abattis will give us the peace of mind that consumers require regarding dosage quality and safety,” said Jeff Guignard, Executive Director of ABLE BC.
As part of the agreement, Abattis will assist in ensuring quality control, and providing expert technical advice on cannabis products sold therein.
The partnership will include expertise on testing and inspection issues such as:
potency and cannabinoid profile;
pesticide and heavy metal testing;
terpene analysis; and
residual solvent testing.
Abattis also has agreed to work with ABLE BC and its member stores to offer expert technical advice about product quality, to provide educational resources as needed, and to offer ABLE BC access to qualified sales, marketing, scientific, and technical personnel as needed for ABLE BC conferences, meetings, and events.
ABLE BC has agreed to offer Abattis unique exposure to ABLE BC’s membership, through its e-newsletter, quarterly publication, member events, and other avenues to be determined. The agreement assures that ABLE BC will promote Abattis and Northern Vine Labs as the organization’s exclusive preferred partner of cannabis testing services.
“We believe that this agreement with such a respected and widespread organization such as ABLE BC gives Abattis and its subsidiaries highly beneficial exposure in the community,” added Jim Irving, Abattis Director.
Both parties acknowledge this is a non-binding and open-ended LOI agreement, which is intended to be a first step in establishing a mutually beneficial working relationship between ABLE BC and Abattis Bioceuticals.
About Abattis Bioceuticals Corp.
Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis 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 British Columbia’s Alliance of Beverage Licensees
The Alliance of Beverage Licensees (ABLE BC) is the advocacy organization representing British Columbia’s private liquor industry. ABLE BC is the largest and most effective liquor industry association in BC, with membership including private liquor retailers, pubs, bars, nightclubs, hotel liquor licensees, as well as various agents, suppliers, and benefit providers. Formed in 1975 under the name the BC Neighborhood Pubs Association, the organization was renamed the BC Liquor Licensees & Retailers Association in 1999, and later merged with the BC & Yukon Hotel Association, and BC Cabaret Owners Association in 2004 to form a province-wide organization uniting BC’s liquor licensees and representing their group interests.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
Robert Abenante, President & CEO
For more information, please visit the Company's website at: www.abattis.com or www.northernvinelabs.com
For inquiries, please contact the Company at (604) 336-0881 or at email@example.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", “intends”, "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding; the increase in the volume of services it can provide; the relationship with ABLE BC; that such relationship will yield additional revenues for the Company or whether ABLE BC will be involved in the distribution of cannabis in BC (which is speculative at this point in time). 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, the role that ABLE BC will play in the cannabis market; that the Company’s letter of intent with ABLE BC will evolve to a future relationship that yields benefits for the Company or that the Company will be the only cannabis related supplier who works with ABLE BC. 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, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.