VANCOUVER, March 8, 2018 /CNW/ - Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE: ATT) (OTC: ATTBF) is pleased to announce it has signed a letter of intent (the "LOI") with Kanabé Corp. ("Kanabé") to provide Kanabé with cannabinoids as well as formulation, manufacturing, analytical and regulatory services to support the development and commercialization of Kanabé's products. Kanabé is a Calgary-based manufacturer of various health and wellness products, including topicals, sublingual oils and other skin-care products. Pursuant to the LOI, Abattis and Kanabé have agreed to negotiate in good faith the terms of a definitive research services agreement respecting the terms of their partnership.
"We hope our partnership with Kanabé will enable it to scale its manufacturing capacity, allowing it to enter new retail distribution channels, including storefronts throughout Canada and online stores. Kanabé's product line will focus on the adult-use market and will be based on Abattis's downstream cannabis solutions, resulting in a premium product and unparalleled customer experience", stated Rob Abenante, President and CEO of Abattis. "This is the latest example of our fully-integrated suite of services supporting manufacturers of cannabis- and hemp-infused products from formulation to distribution", added Mr. Abenante.
"Kanabé believes this partnership will enhance our formulations, with access to Abattis's full range of services and industry leading technologies, and result in premium quality products. Concurrently with our work with Abattis, we are working to secure distribution agreements for our line of health and wellness products with major retail chains, one of which has 100+ locations throughout various provinces. We are also poised and well situated to provide our products in distribution channels overseen by provincial commissions", stated Daniel Laferriere, CEO and founder of Kanabé Corp.
"Innovation and compliance are key drivers of our strategy to support the nascent legal market for cannabis and hemp products. For example, Kanabé's line of high-end health and wellness products could be an ideal use case for our nanotechnology-based delivery platform currently in development," added 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: http://www.abattis.com
ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,
Robert Abenante, President & CEO
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 parties' plans to enter into a definitive research services agreement; Abattis's provision of cannabinoids and services to Kanabé; the expected benefits to both Abattis and Kanabé of the parties' partnership; Kanabé's plans to provide its products in distribution channels overseen by provincial commissions; Kanabé's line of high-end health and wellness products being an ideal use case for Abattis's nanotechnology-based delivery platform currently in development. 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 research services agreement respecting the partnership will not be entered into or that the partnership will not be formed; that Abattis will not provide cannabinoids and services to Kanabé as expected; that the partnership between Abattis and Kanabé will not benefit either party as expected or at all; that Kanabé will not be able to provide its products in distribution channels overseen by provincial commissions; that Kanabé's line of high-end health and wellness products may not be an ideal use case for Abattis's nanotechnology-based delivery platform currently in development; 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 http://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.
SOURCE Abattis Bioceuticals Corp.
For further information: please contact the Company at (604) 674-8232 or at [email protected]