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VANCOUVER, British Columbia, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE:ATT) (OTC:ATTBF) is pleased to announce the formation of a new partnership (the “Partnership”) with Faculty Brewing Co. (“Faculty Brewing”), a Vancouver-based craft brewery, to develop a hemp-infused, cannabinoid-rich, THC-free craft beer. Pursuant to a research services agreement between Abattis and Faculty Brewing, Abattis will conduct research and development activities related to the development of a hemp-infused, cannabinoid-rich, THC-free craft beer, or a line of such beers, for Faculty Brewing.
“Our exciting partnership with Faculty Brewing positions us as one of the first Canadian companies to secure an agreement for research and development, analytical and regulatory services relating to a hemp- and cannabis-infused beverage,” said Rob Abenante, President and CEO of Abattis. “By aiming to develop a line of functional beers, each based on a different type of hemp extract, we hope to have a product that is compliant and market-ready as soon as Health Canada releases its new regulatory framework for hemp and cannabis-infused beverages,” added Mr. Abenante.
Northern Vine Laboratories (“Northern Vine”) has been contracted by Abattis to provide cannabinoid-rich, THC-free, hemp extract and to carry out research, development and analytical testing related to the formulation of a unique hemp- and cannabis-infused beer. Northern Vine is a Licensed Dealer under the provisions of the Canadian Controlled Drugs and Substances Act. As a Licensed Dealer, Northern Vine has the ability to import/export cannabis and cannabis oils, as well as the right to conduct 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. Northern Vine is co-owned by Abattis and Emerald Health Therapeutics (“Emerald”) (TSX-V:EMH) (OTCQX:EMHTF), which is a controlling shareholder.
“Having the Northern Vine team on board ensures the final product will deliver a precise and consistent amount of pesticide-free cannabinoids in every single bottle,” said Dr. David Galvez, Senior Science Advisor for Northern Vine and Abattis.
The Partnership follows Abattis’s January 9, 2018 announcement respecting its proposed exclusive agreement to offer technical advice regarding the commercialization of cannabis products sold in British Columbia’s Alliance of Beverage Licensees (ABLE BC) member stores.
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. Northern Vine is a subsidiary of Emerald Health Therapeutics, which Abattis retains a 47% equity interest.
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.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP.
Robert Abenante, President & CEO
For inquiries, please contact the Company at (604) 336-0881 or at email@example.com.
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: Abattis’s activities pursuant to its research services agreement with Faculty Brewing; and Abattis’s hope to have a compliant and market-ready product ready when Health Canada releases its new regulatory framework for hemp- and cannabis-infused beverages. 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 Abattis’s will carry out its responsibilities pursuant to its research services agreement with Faculty Brewing; that Abattis will have a compliant and market-ready product ready when Health Canada releases its new regulatory framework for hemp- and cannabis-infused beverages; 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 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.
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