VANCOUVER, British Columbia, May 17, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE:ATT) (OTC:ATTBF) is pleased to announce it has entered into a non-binding letter of intent (the "LOI") with Cannamedix Inc. (“Cannamedix”) to provide Cannamedix with, among other things, pesticide-free cannabinoid-containing oils, research and development, analytical and regulatory services and access to Abattis’s distribution and marketing channels to support the development and commercialization of new CBD-infused nutraceuticals and natural health products. Cannamedix is a Calgary-based healthcare provider focused on the use of traditional and alternative therapies to address health conditions, from pain management to integrative cancer care. Pursuant to the LOI, Abattis and Cannamedix have agreed to negotiate in good faith the terms of a definitive agreement respecting the terms of their partnership.
"Abattis is pleased to support Cannamedix’s efforts to develop and distribute what could be one of the first lines of cannabinoid-infused nutraceuticals and natural health products in Canada," stated Rob Abenante, President and CEO of Abattis.
"Developing safe and compliant CBD-containing products is at the core Abattis’s mandate. Our partnership with Cannamedix showcases another example of our commitment to offer R&D, analytical, regulatory and distribution services to the nascent cannabis and hemp markets," added Mr. Abenante.
"Cannamedix’s team of professionals specialize in long term, sustainable health solutions for individuals at every age and state of health,” said Dr. Janelle Murphy, ND and Rob Richards, cofounders of Cannamedix. “Through our partnership with Abattis, and according to robust research protocols, we aim to assist our patients to explore the promising health benefits associated with cannabinoid-based therapies,” Dr. Murphy and Mr. Richards continued.
"Cannamedix’s plans to develop a new and compliant line of CBD-containing products is consistent with the fast adoption of cannabinoid-based medicine we have seen across North America, Europe and Australia," stated Dr. David Galvez, Senior Science Advisor 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. For more information, visit the Company's website at: www.abattis.com.
ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,
"Rob Abenante"
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) 674-8232 or at info@abattis.com.
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 proposed partnership and the negotiation of a definitive agreement respecting same; Abattis’s support of Cannamedix’s efforts to develop and distribute what could be the first line of cannabinoid-infused nutraceuticals and natural health products in Canada; and the partnership’s aim of assisting Cannamedix’s patients to explore the promising health benefits associated with cannabinoid-based therapies. 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, including: that a definitive agreement respecting the partnership will not be entered into or that the partnership will not be formed; that Abattis will not successfully support Cannamedix’s efforts to develop and distribute a line of cannabinoid-infused nutraceuticals and natural health products in Canada or that such line will not be the first such line in Canada; that the partnership will not succeed in assisting Cannamedix’s patients to explore the promising health benefits associated with cannabinoid-based therapies; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company’s competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company’s control. 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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.