Abattis Completes $2.25-million Private Placement - Stockpools

Stockpools on your Phone

Follow Stockpools

Abattis Completes $2.25-million Private Placement


2018-07-11 10:57 ET - News Release

Mr. Rob Abenante reports


Abattis Bioceuticals Corp. has provided the following corporate updates.

Completion of Private Placement

Abattis has completed a non-brokered private placement for gross proceeds of $2.25 million (the "Proceeds") through the issuance of 13,235,294 common shares of the Company priced at $0.17 per share. The Company anticipates that the Proceeds will be used to organically grow its existing downstream service division and for general working capital purposes.

Contact Information Update and Communications Framework Changes

Abattis's new communications program will be managed through the following:

All direct investor inquiries will be directed through:

- Phone: via a new dedicated IR phone number: 604-441-1304

- Email: investors@abattis.com

All customer inquiries and requests for information respecting the general operations of the Company will be managed through the Company's website in the Contact Us section.

The website now also has an automated customer service function, to provide visitors with enhanced and real time communication while browsing.

The Company anticipates that the new communications framework will significantly decrease the turnaround time for shareholder and general inquiries.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Abattis Bioceuticals Corp.

Abattis is a leading diversified cannabis company, with interests in operations engaged in growing, extraction, testing, propagation and retail distribution. Over the past few years, Abattis has made key acquisitions to leverage synergies and vertically integrate its business. Through Abattis's ownership interest in Northern Vine Labs, Abattis has access to a laboratory facility holding a Health Canada dealer's license and, through its wholly owned subsidiary Gabriola Green Farms, it has applied for a Health Canada license 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 online and across the country and owns a series of marketing, licensing and technology rights. Abattis has also partnered with a number of organizations, including the University of British Columbia Faculty of Land and Food Systems, with which it is developing delivery platforms with increased stability and bioavailability for cannabinoid rich THC-free hemp extracts.

We seek Safe Harbor.

© 2018 Canjex Publishing Ltd. All rights reserved.

Click here to read the original article.