VANCOUVER, B.C., Oct. 8, 2014 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (OTCQX:ATTBF) (CSE:ATT), a specialty biotechnology company focused on cultivating, licensing, and marketing proprietary ingredients, bio-similar compounds, equipment, and consulting services to North American medicinal markets, today announced that through its wholly owned subsidiary, Northern Vine Canada Inc. ("Northern Vine"), Experion Biotechnologies Inc. ("Experion") has received a written update from the Fraser Valley Regional District on the amended zoning regulations for its property which has now been approved for… "the use of cultivation, growth, storage, or distribution, testing, or research, of marijuana for medical purposes as lawfully permitted and authorized under the applicable federal or provincial law."
On April 10th 2014 Abattis announced that its subsidiary, Northern Vine and Experion completed a 25% share exchange. Experion has a lease on a 10-acre property located in the Fraser Valley Regional District in British Columbia and is in the late stages of the MMPR License application process. Experion has passed all security checks, submitted its SOP's and is awaiting the letter to build.
The company has received many calls from investors and shareholders asking about the status of the three licenses our companies have applied for. We respond on time to each request from Health Canada, who has been very clear and succinct with its requests for clarification on our applications. Northern Vine is also progressing with its Controlled Substance "Dealers" License and has submitted its security plan for its lab in Langley BC. We have an open dialogue with the Office of Controlled Substances "OCS" and respond in a prompt manner to comments and requests of the OCS.
BioCell Labs Inc. application "The Quebec Application" now is entering the Security Clearances stage. The MMPR application process is an important process for both Health Canada and applicants to go through. The process ensures that only quality operators that meet the strictest of standards are awarded the License to Produce Medical Marijuana and we support this approach.
Abattis CEO Mike Withrow commented, "We appreciate the thorough extent of the application and licensing process and want to keep our shareholders notified that we are making positive progress toward obtaining the licenses we have applied for. We continue to get closer to meeting all of the requirements needed to obtain LP status on the properties and will continue to communicate milestones as they are reached."
About Abattis Bioceuticals Corp.
Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its mass cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company's website at: www.abattis.com.
About Experion Biotechnologies Inc.
Experion Biotechnologies Inc. is a team of innovators dedicated to producing, procuring, and providing medical products derived from Cannabis of superior quality in a consistent and timely manner to patients across Canada in accordance with Health Canada regulations. Its current facilities in the Greater Vancouver Area are ready to operate under strict guidelines with standardized operating protocols as a commitment to the quality patients require.
ON BEHALF OF THE BOARD
"Mike Withrow"
Michael Withrow, President & CEO
For further information, contact the Company's CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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 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.