VANCOUVER, British Columbia, Feb. 18, 2019 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp (the “Company” or “Abattis”) (CSE:ATT) (OTC:ATTBF) is pleased to provide the following update on the Company’s recent trading halt and upcoming conference call with Company management set for March 1, 2019.

Update on Trading Halt

On February 4, 2019, the trading of the Company’s common shares was halted due to the Company’s failure to file its year-end financial statements within the 90 day filing deadline required under National Instrument 51-102 – Continuous Disclosure Requirements.  The Company is still undergoing its year-end financial statement audit and believes it will have them filed in the coming week.

Conference Call Details

Once filed, the Company will host a conference call in order for Company management to discuss the recent trading halt, its year end audited financials, the November 26, 2018 British Columbia Securities Commission’s order, the performance of the Company’s various divisions, as well as to provide an operational outlook for 2019.

Final details of the conference call will be announced following the filing of the Company’s audited financial statements.

About Abattis Bioceuticals Corp.

Abattis is positioned to be a leader in the cannabis industry as a fully integrated medicinal cannabis company. The Company’s flagship cultivation asset is located on beautiful British Columbia’s Gabriola Island. Starting with 26,000 square feet and expandable across 8 acres, our Gabriola Green Farms Inc. (“Gabriola”) facility plans to grow medical-grade marijuana as well as select craft strains of infamous “B.C. Bud”. In addition, Abattis has been aggressively building its portfolio of complimentary assets which includes the acquisition of 140 genetic strains and the acquisition of NutriVida, a fertilizer company which offers a robust portfolio of fertilizers and nutrients, custom formulated for the emerging cannabis market.

Abattis has also continued to organically grow its products and services divisions as it strives to become one of the industry’s most dynamic vertically integrated cannabis companies. This ranges from its Abattis-branded vaporizer line, now sold nationally in Shefield and Sons, to the recent launch of its first proprietary cannabinoid therapeutic, COMFORT™, formulated to treat chronic pain and inflammation. Abattis also continues to service the cultivation industry through its preferred service agreements with Northern Vine Canada Inc., a licensed laboratory which was recently sold to Emerald Health Therapeutics Inc., and Dicentra Inc., one of Canada’s largest regulatory advisory firms.

To further its reach into the cannabis space, Abattis has made several strategic investments to ensure it has a piece of key evolving areas as the industry matures.  One such investment is into cutting-edge research performed in partnership with the University of British Columbia and Mitacs, to research and develop nanoemulsified cannabinoid-rich hemp oil, as well as continuing to develop cannabinoid-infused products such as cannabinoid-rich beer and infused sunscreen. Abattis has also made key investments into XLABS Therapeutics (ONT) Inc., building one of Canada’s largest cannabinoid manufacturing labs as well as into certain blockchain service and cryptocurrency platforms solely focused on cannabis product and service transactions.

ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,

“Rob Abenante”

Robert Abenante, President & CEO

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

For inquiries please contact 1 (808) 650-3007 or at investors@abattis.com.  Abattis’ investor relations are managed by Canada One Communications Inc.

About Canada One Communications Inc.

Canada One Communications Inc. (“Canada One”) is a full-service Investor Relations and Marketing company that focuses on both private and public sectors within the Canadian markets. Canada One offers timely responses to all investor inquiries over several mediums and effective, thorough market awareness programs that are specifically designed to maximize exposure and bring value to shareholders. Canada One’s dedicated and experienced team strives to promote client information to the public and educate potential investors on the various developments of its clients. From basic phone-call and email investor correspondence, to full-scale comprehensive marketing packages which includes industry analysis, website development, corporate videos and other marketing programs, Canada One provides a full suite of services that are fully compliant with Canadian securities regulations. Canada One is driven by an uncompromising dedication to provide publicly listed and private companies with across-the-board investor relations and marketing solutions, directly translating these services into organic growth and increased market value of its valued clients.

FORWARD LOOKING INFORMATION

Certain statements contained in this release constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”). These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to statements regarding the estimated filing of the Company’s financial statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.