ABATTIS CONTINUES TO BUILD ON RECENT INVESTMENTS WITH PLANS FOR SIGNIFICANT REVENUE GROWTH
august 1, 2018 by eightbagger, posted in marijuana, uncategorized
Abattis Bioceuticals Corp. is providing an update as the company moves to a phase of building on recent investments and anticipates significant revenue growth in the fourth quarter of 2018.
As a result of its recently completed oversubscribed private placements and the forthcoming sale of its remaining stake in Northern Vine Canada Inc. to Emerald Health Therapeutics Inc., the company will be well capitalized and in an enviable position heading into the legalization of cannabis for recreational purposes in Canada, which is expected to occur on Oct. 17 of this year.
Through its master services agreement with Northern Vine, the company continues to have preferential access to a licensed lab, which will enable it to progress its research and development partnerships with the University of British Columbia, exploring nanoemulsified and liposomal platforms for transmucosal delivery of cannabinoid-rich hemp oil, and Faculty Brewing Company, developing hemp-infused, cannabinoid-rich, THC-free craft beer.
The company has also recently deployed capital, through its investment in XLABS Therapeutics (ONT) Inc. (XLABS), which is developing a 10,000-square-foot laboratory in Belleville, Ont. Through XLABS, the company hopes to leverage the experience it obtained through the build out of Northern Vine on a much larger scale. In accordance with the terms of the investment, Abattis president and chief executive officer Rob Abenante has joined the board of directors of XLABS.
The company’s other recent investments have focused on building its foundation as a fully integrated downstream service cannabis company. These include Gabriola Green Farms, which the company anticipates will be granted a licence to produce under the Access to Cannabis for Medical Purposes Regulations later this year. With an LP, and together with the company’s investments in Vergence Naturals Ltd. and Green Tree Therapeutics Inc., the company will be able to supply a wide range of products and services to the market.
The company hopes that these investments will be producing significant revenue streams by the fourth quarter of this year, with such revenues coming from sales of cannabis flower and oils, vaporizers, and the rollout of cutting-edge new products through Vergence. The company believes these initiatives will drive growth for the company through increased market presence and awareness.
To further build awareness, the company has retained Link Media LLC, an arm’s-length service provider, to provide communications and market awareness services for the company and author and distribute a series of independent research articles on the company. Each article will be reviewed and approved by the company prior to release to ensure the content is consistent with the company’s vision and that information contained therein is consistent with the company’s public disclosure. Under the engagement, Link will be paid $150,000 (U.S.) for its services to the company. To the best of the company’s knowledge, Link does not own any of the company’s securities.
ABOUT ABATTIS BIOCEUTICALS CORP.
ATT.pngAbattis is a leading diversified cannabis company, with interests in operations engaged in growing, extraction, testing, propagation and retail distribution. Over the past year, Abattis has made key acquisitions to leverage synergies and vertically integrate its business. Through its partnership with Northern Vine Labs and its investment in XLABS Therapeutics (ONT) Inc., Abattis has access to a fully licenced laboratory facility and an industrial-size laboratory currently in the process of obtaining a Health Canada dealer’s licence and, through its wholly owned subsidiary Gabriola Green Farms, it has applied for a Health Canada licence to produce and sell cannabis flower and oils. Abattis also operates a retail vaporizers business through its wholly owned subsidiary, Green Tree Therapeutics, which offers 10 unique branded SKUs on-line and across the country and owns a series of marketing, licensing and technology rights.
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