14:57:42 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Abattis Bioceuticals Corp
Symbol ATT
Shares Issued 64,775,686
Close 2015-04-27 C$ 0.13
Market Cap C$ 8,420,839
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Abattis issues 72,414 shares for consulting services

2015-04-28 07:52 ET - News Release

Mr. Bill Fleming reports

ABATTIS BIOCEUTICALS INVESTOR UPDATE FOR Q2 2015

Abattis Bioceuticals Corp. has released an update for its current shareholders.

The company's primary strategy is to align with or acquire like-minded companies that support its botanical drug development efforts in the most efficient manner. Abattis has two focuses: product sales through the research, development and sale of nutraceutical products, and the development of botanical drugs. The extraction, refining and sciences divisions of Abattis all form the botanical drug development divisions. The BioExtracts division is being realigned to fit into the extraction and refining category to couple it with its already existing labs and intellectual property.

Abattis would like to update investors on work under way at the company and the status of work under the company's wholly owned subsidiaries and partners.

The company is currently:

  • Evaluating current assets;
  • Awaiting Northern Vine's rebranded websites to go live;
  • Expecting Biocell to bring products to the direct sales market;
  • Working through the research and development at Biocube following a successful growth trial run;
  • Holding a future pipeline of product opportunities in IJuana;
  • Assessing the use of the Phytalab business model for deployment into Northern Vine.

Since 1997, the company has actively purchased assets and intellectual property. Currently the assets are at various stages of development. Abattis's management is actively reviewing all of the company's assets and opportunities while assessing their alignment with the company's positioning in the nutraceuticals industry, with core assets being evaluated on their ability to provide revenue generation in the near term. Assets that do not fit into management's core focus are being reviewed for disposal. Disposing of the non-core assets will lead to additional value by better positioning the company. Abattis is working to position itself as a leader in the botanical medicine field, with a focus on pain management. Abattis's wholly owned and partner companies are completing business plan reviews, which have led the company toward a rebranding effort commencing with updated websites. The Experion Biotechnologies Inc. and Northern Vine Canada Inc. websites will be going live in the near term. Abattis's main website and its additional subsidiaries' websites will be revised as the company's assets are repositioned.

Abattis, through its wholly owned subsidiary Biocell Labs Inc., intends on bringing several products to market. Currently, Biocell has 10 new natural product formulas that are near market, as they await pending patents and natural product numbers. These products will include cannabinoid compounds in United States jurisdictions where permitted. Biocell will not be marketing any of these products direct to retail. Biocell has established relations to facilitate its strategy to develop proprietary product formulations for rebranding and marketing by others. By developing branding and marketing partners, Biocell will save time and money while not losing focus on other objectives. The capital saved will allow Biocell to generate future products based on existing intellectual property. Capital and attention spent on research and development will result in the development of future products. Biocell is currently preparing additional detailed information on each of the 10 products, which will be disseminated, as it is available.

Biocell is also readying its patent-pending nitric oxide product in a unique delivery system to bring it to the marketplace. Nitric oxide has been proven in studies, conducted by parties unrelated to the company, to promote blood flow and is a signalling molecule for cardiovascular health.

Biocube Green Grow Systems is the company's proprietary grow chamber using MgO board, an anti-microbial product. Over the last six months, Biocube has gone through several successful trials of the proprietary grow chamber with both Ocimum tenuiflorum (that is, holy basil) and Arabidopsis. Both trials were successful and allowed Biocube to further refine design specifications. Biocube is currently performing research and development testing for yield and analysis purposes as a follow-up to the two products mentioned above. Biocube plans to relocate the proprietary grow chamber to an I-502 location in Washington state in the near future and is preparing to sell grow systems that are ready for market. Biocube's goal in relation to this product remains to develop a superior sustainable growth chamber for use in the medical marijuana industry as well as produce markets.

IJuana Cannabis Inc. serves two purposes within Abattis. IJuana currently holds extra production capacity for future production at a site in Squamish, B.C., which is properly zoned. Federal licensing applications are still pending, and as a result IJuana is currently holding Biocube's inventory of proprietary grow chambers in place. IJuana is also the holder of an additional 78 licensed natural health products (under the name Animo Wellness Corp. on Health Canada's website). The natural product numbers found on Health Canada's website are active and embody future products for IJuana.

Phytalab is a licensed I-502 testing lab in Washington state. Currently, Abattis management is in the process of recognizing Phytalab's core values and profit-generating potential. Phytalab is able to test for heavy metals, foreign material screening, moisture content and microbial burden, making it an integral part in testing marijuana suppliers. Phytalab is not simply a medical marijuana testing facility; rather, it has an expansive profile of services, including the testing of a wide variety of botanicals, research and development activities, genetic identification, and publication of standards through Abattis-affiliated laboratories. Northern Vine intends to become a similarly positioned lab in Canada that tests products and raw materials to Health Canada's standards. Abattis will expand its labs into different countries and states, once its brands are established. There are other potential divisional developments that will be discussed in the future.

Management felt that this update could serve to clarify some of the existing investor questions. Management is also looking into holding an annual investor conference call at a later date.

The company wishes to announce that pursuant a consulting agreement with arm's-length parties, it has issued an aggregate of 72,414 common shares at a deemed price of 14.5 cents per share as consideration for services provided to the company.

We seek Safe Harbor.

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