Abattis Names Michael Yung as Ceo
VANCOUVER, BC / ACCESSWIRE / April 25, 2016 / Abattis Bioceuticals Corp. (OTC PINK: ATTBF) (CSE: ATT), (the "Company" or "Abattis"), today announced that Michael Yung has been named as Chief Executive Officer (CEO) of Abattis Bioceuticals Corp, effective April 18, 2016. He will succeed William (Bill) Fleming, who has resigned his role as CEO and Director to pursue other business interests.
"I'm honoured, and I'm grateful to the Board of Abattis for the opportunity to lead the next exciting phase of this highly innovative company," said Mr. Yung. "We are focussed on developing and delivering a range of high-quality products for the rapidly expanding natural health, nutraceutical and biopharmaceutical markets. What is particularly exciting in this area will be the launch our own range of products that will utilize our proprietary PHYTO[NOS]™ formulation. Additionally, we are moving into premium scientific services including analytics, testing and product formulation and further developing our capabilities in support of the production and extraction of botanical ingredients, one of which includes cannabis."
It is estimated that the current global nutrition and supplements market is worth in excess of US$100 billion with an expected compounded annual growth rate between 6% and 7%.
Mr. Yung is an accomplished professional with over twenty years' experience in the pharmaceutical and medical technology sectors. Prior to joining Abattis, he held a variety of senior positions with Device Technologies, a large privately held business engaged in the sales and distribution of high-end medical technologies and services. These positions included management responsibility for organizational development strategy and implementation with a focus on corporate learning; as well as senior sales management roles focused on improving sales force strategy, effectiveness and capability. Mr. Yung joined Device Technologies from the pharmaceutical industry, where he held senior management positions with both AstraZeneca and GlaxoSmithKline. Mr. Yung has experience in international markets including Australia and New Zealand; and holds a Bachelor of Exercise & Health Science from the University of Queensland as well as professional certificates in Workplace Training and Integrated Talent Management.
"The Board would like to thank Bill Fleming for his contributions to Abattis. Bill joined the Company during a time of transition and provided the guidance necessary to help the company crystallize its strategy and product development."
The Company also announces that on April 19, 2016 1,200,000 common shares were issued as compensation for services to consultants of the Company, no legend was required on any of the issued shares.
ON BEHALF OF THE BOARD
"Rene David"
Rene David, CFO
For further information, contact IR for Abattis Bioceuticals Corp. at (604) 568-8868 or at news@abattis.com.
