Mr. Robert Abenante reports
ABATTIS SIGNS LOI WITH KANABE TO PROVIDE A FULL SUITE OF DOWNSTREAM CANNABIS SOLUTIONS TO THEIR PREMIUM HEALTH AND WELLNESS PRODUCTS
Abattis Bioceuticals Corp. has signed a letter of intent (the LOI) with Kanabe Corp. to provide Kanabe with cannabinoids as well as formulation, manufacturing, analytical and regulatory services to support the development and commercialization of Kanabe's products. Kanabe is a Calgary-based manufacturer of various health and wellness products, including topicals, sublingual oils and other skin care products. Pursuant to the LOI, Abattis and Kanabe have agreed to negotiate in good faith the terms of a definitive research services agreement respecting the terms of their partnership.
"We hope our partnership with Kanabe will enable it to scale its manufacturing capacity, allowing it to enter new retail distribution channels, including storefronts throughout Canada and on-line stores. Kanabe's product line will focus on the adult-use market and will be based on Abattis's downstream cannabis solutions, resulting in a premium product and unparalleled customer experience," stated Rob Abenante, president and chief executive officer of Abattis. "This is the latest example of our fully integrated suite of services supporting manufacturers of cannabis- and hemp-infused products from formulation to distribution," added Mr. Abenante.
"Kanabe believes this partnership will enhance our formulations, with access to Abattis's full range of services and industry-leading technologies, and result in premium quality products. Concurrently with our work with Abattis, we are working to secure distribution agreements for our line of health and wellness products with major retail chains, one of which has 100-plus locations throughout various provinces. We are also poised and well situated to provide our products in distribution channels overseen by provincial commissions," stated Daniel Laferriere, chief executive officer and founder of Kanabe.
"Innovation and compliance are key drivers of our strategy to support the nascent legal market for cannabis and hemp products. For example, Kanabe's line of high-end health and wellness products could be an ideal use case for our nanotechnology-based delivery platform currently in development," added Dr. David Galvez, senior science adviser at Abattis.
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.
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