The management of Abattis Bioceuticals Corp (OTCPINK:ATTBF) (CNSX:FLU) is pleased to provide this year in review update to highlight the corporate accomplishments made in the last 12 months.
The past 12 months have been quite active for Abattis, management has constructed a solid foundation for the framework of our enterprise. We have met several significant milestones since March of 2012 when we acquired 100 percent of the shares in Animo Wellness Corporation. This marked the beginning of a timeline filled with milestones that put Abattis in a position to be a fully integrated bioceutical company to grow, value add process, produce, license and market proprietary materials and products containing standardized phytochemicals for sale into pharmaceuticals, nutraceuticals, cosmetics, and animal nutrition markets.
In May 2012 we announced a 5 year distribution agreement with a National Canadian Distributor and elected to hold off on marketing the "me too" health products in favor of continuing to increase the proprietary intellectual property pipeline of the company.
In August 2012 the company closed the deal which acquired the shares of Northern Vine Canada Inc. and the acquisition of the assets of Sci-Naturals Wellness Corp.. Northern Vine is a cGMP facility licensed by Health Canada for the production of Natural Health products and has the capacity to import and export bulk materials, produce and package finished natural health supplements for sale in most international markets.
In September 2012 the company acquired a one of a kind extraction technology coined FFE for Flash Freeze Extraction and has the rights to make copies. This revolutionary high quality technology and equipment is ideal for the extraction of oils, oleoresins and secondary products from natural biomasses. Its technology, tagged "FFE" for Flash-Freeze Extraction, offers dramatic improvements over the existing extraction methods, such as CO2, steam distillation or solvent extractions. This breakthrough process, operating in a closed loop system, has the following key advantages:
-It produces extracts of so-far unseen quality, with high purity and low solvent
contamination (closer to nature).
-FFE delivers higher extraction yields than most established extraction methods.
-The system costs dramatically less to operate, is compact and is fully scalable.
-The process is cleaner and environmentally friendly.
In addition to the technology acquisition the company acquired over 400 related Internet domains for use in the company's online strategy. These are key in ensuring Abattis and its related companies and business customers own their piece of real estate on the Internet.
In November 2012 Abattis executed a formal License Agreement (the "License Agreement") with Vertical Designs Ltd. ("Vertical Designs") pursuant to which Vertical Designs granted a Bio-Pharma license to the Company, which permits Abattis to now grow and produce plants targeted for health and wellness, plant materials and extracts in licensed facilities that it builds in British Columbia utilizing Vertical Design's patented technology. In addition, Abattis may purchase equipment from Vertical Designs for use at such facilities. Abattis retains the sale and marketing rights attached to all products grown or produced by it at these licensed facilities.
In December 2012 this agreement was amended and Abattis now owns the exclusive, worldwide rights to a patent license, with the right to grant sublicenses, to use the Bio-Pharma technology for growing products at licensed facilities, which products may only be used as ingredients in the pharmaceutical, nutraceutical, cosmetic and wellness markets.
On December 15th 2012 Health Canada published its new guidelines and policies for the introduction of its Licensed Producer Program. These changes came on the heals of two states (Washington and Colorado) in the US voting to legalize the possession of recreational Marijuana. Many other states have legalized medicinal marijuana and it is sold in dispensaries to licensed patient cardholders.
In January 2013 the company signed a consulting agreement with Mr. Georges Laraque. Georges is well known for his long 12-year career in the NHL and as Deputy Leader to the Green Party of Canada. Another addition to the Abattis team in January was Dr. Andrew Riseman Ph.D. Associate Professor, Applied Biology and Plant Breeding at UBC. Dr. Riseman will be assisting the Company in Applied Biology and Plant Sciences.
In February 2013 we announced the engagement of the British Columbia Institute of Technology "BCIT" to study the growth rates and novel compounds present in baby spinach and serve as a benchmark for growing, processing and the proprietary extraction of botanicals under strict Standard Operating Protocols to achieve pharmaceutical grade products. This is our first step toward producing bio-pharma grade botanicals that are standardized to targeted phytochemicals. The company is focused on the controlled and sustainable production of plants to meet the demand for a traceable and consistent supply of botanical materials for development of biopharmaceuticals. Also in February the company announced the engagement of Triangle Consultants to represent Abattis at the various government levels across Canada as it applies its strategic business approach for its shareholders.
March has already proven to be a busy month already. We have acquired BioCell Labs Inc and North American BioExtracts Inc. we also signed a multi-million dollar supply agreement with Cromogen Biotechnologies to purchase Cannabidiol or "CBD's" for the use of creating infused products to be sold in the US Natural Health Product Market(s). Under the terms of the agreement the CBD's being supplied to Abattis are not listed as Scheduled 1 Drugs. Cannabinoids are a group of 21-carbon--containing terpenophenolic compounds produced uniquely by Cannabis sativa and Cannabis indica species. These plant-derived compounds may be referred to as phytocannabinoids. Although delta-9-tetrahydrocannabinol (THC) is the primary psychoactive ingredient, other known compounds with biologic activity are cannabinol, cannabidiol (CBD), cannabichromene, cannabigerol, tetrahydrocannabivarin, and delta-8-THC. Cannabidiol, in particular, is thought to have significant analgesic and anti-inflammatory activity without the psychoactive effect (high) of delta-9-THC. Source National Cancer Institute at NIH. With the acquisition of BioCell Labs Inc., objective is to develop and eventually commercialize Cannabis products, through a production permit issued by Health Canada, addressing the medical needs of patients who hold a license through the Marihuana Medical Access Program.
Biocell Labs Inc then announced the appointment of Dr. Paula Brown to the Board of Directors and as the Chief Science Officer of the company. As Director of the BC Institute of Technology's Natural Health and Food Products Research Group, has been actively supporting the NHP industry for over a decade through applied research activities including product development, establishment of quality standards and regulatory compliance. Brown has reviewed and contributed to several American Herbal Pharmacopeia Monographs including Aloe Vera, Black Cohosh and Ginseng.
Also in March Abattis signed a letter of intent with Crudessence Kombucha Inc. ("RISE") http://www.risekombucha.com/en/ to acquire the worldwide exclusive license "the License" to produce, distribute, market and sell a Kombucha tea infused or blended with additional nutraceutical and bioceutical formulas developed and owned by Abattis and its subsidiaries. the purpose of the LOI is to enable Abattis to initially bring a new brand of Cannabidiol CBD infused probiotic functional beverages to the markets starting in Washington and Colorado, the brand will be launched as "Cannabucha Sun RiseTM" this product will be the first of its kind with infused Cannabidiol "CBD" with the probiotic effects to create one of the best possible health drinks in the world.
The Vertical Advanced Growing Systems "VAGS" can grow thousands of types of plants and to demonstrate this the company also announced in March its participation in a research project led by Pamela Weathers, Professor of Biology and Biotechnology at Worcester Polytechnic Institute (WPI) in Worcester, Mass. The project is investigating a whole plant (of which Abattis will grow for the project) therapeutic for treating malaria and other diseases, one that may also reduce drug resistance.
Most recently the company announced its sponsorship for the first ever cannabis (cannabis sp.) monograph and therapeutic compendium currently under development by the American Herbal Pharmacopoeia (AHP). http://www.herbal-ahp.org The monograph, scheduled for release in Spring 2013, will provide industry with a variety of scientifically valid analytical methods suitable for use in the identification, purity, and quality assessment of cannabis and its crude products. . The world needs standards for Cannabis and the many phytochemicals that come from it so lawmakers can properly categorize them and so formulators can legally apply the compounds in appropriate products that help those who are suffering from various chronic diseases.
As we continued to build our company foundation, losses have been reduced from .14 cents two years ago to .09 cents a share while increasing our net and intangible tangible assets. We continue to position the company in markets where high growth opportunity exists and as the company matures we look forward to continued success by utilizing the synergies of the people and from the intellectual property we have acquired during these past 12 months. With many of the resources in place the company can now begin to implement its Grow, Dry, Extract, Refine and Science "GDERS" strategy.
For more information, visit the company's website at www.abattis.com.
ON BEHALF OF THE BOARD
Michael Withrow, President & CEO
Neither the CNSX Exchange nor its regulations services accepts responsibility
for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.