VANCOUVER, British Columbia, Dec. 18, 2017 (GLOBE NEWSWIRE) — Abattis Bioceuticals Corp. (“Abattis“) (CSE:ATT) (OTC:ATTBF) is pleased to announce that Health Canada has approved an amendment to the dealer’s license held by Northern Vine Canada Inc. (“Northern Vine”). Northern Vine is a subsidiary of Abattis and Emerald Health Therapeutics Inc. (“Emerald”) (TSX-V:EMH) (OTCQX:EMHTF).
The amendment to the dealer’s license gives Northern Vine the ability to transport, deliver and sell product to other Licensed Dealers, authorized persons under the Controlled Drug and Substances Act (Canada) (the “CDSA”), and Licensed Producers. While Northern Vine was previously authorized to conduct activities related to analytical testing, extraction, and import/export, this amendment allows it to broaden its business opportunities through the production and sale of downstream cannabis products, such extracts and isolates.
“We are very pleased with the amendment to Northern Vine’s dealer’s license,” said Robert Abenante, President and CEO of Abattis. “This is very good timing as we have just had a significant breakthrough related to extraction technology and this is the first major achievement for Northern Vine following Emerald’s investment in Northern Vine.”
Northern Vine is a Licensed Dealer under the provisions of the CDSA. As a Licensed Dealer, it is permitted to carry out certain business activities that Licensed Producers are not permitted to undertake under the Access to Cannabis for Medical Purpose Regulations (Canada), including the import/export of cannabis and cannabis oils, as well as certain activities related to the manipulation, formulation, dosage form, and strength or package size of cannabis, including mixtures with other additives, controlled substances, and non-controlled substances. These opportunities expand possible research and product innovation opportunities available to Northern Vine.
About Northern Vine
Northern Vine Labs™ is licensed by Health Canada (Licensed Dealer) for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian cannabis market.
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. Abattis has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. It is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. Abattis follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions. For more information, visit its website at: www.abattis.com
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
“Robert Abenante”
Robert Abenante, President & CEO
For more information, please visit: www.abattis.com or www.northernvinelabs.com
For inquiries, please contact the Company at (604) 674-8232 or at [email protected].
FORWARD LOOKING INFORMATION
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 potential benefits that may be realized by Northern Vine and, indirectly, Abattis, as a result of the amendments to Northern Vine’s dealer’s license, the potential activities that may be undertaken by Northern Vine under the license, and the potential business development opportunities for Abattis and Emerald. Although Abattis 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 Abattis 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 Northern Vine may be unable to successfully expand and scale its operations to meet the potential available under the amended license, risks related to regulatory changes, risks related to the ability of Abattis and Emerald to work together in a way that will be beneficial to the business of Abattis, risks related to competitive conditions, and other risks beyond the control of Abattis, Northern Vine and Emerald. Additional risk factors are included in Abattis’s Management’s Discussion and Analysis, available under its profile on www.sedar.com. The forward-looking statements are made as at the date hereof and Abattis 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.