Vancouver, British Columbia--(Newsfile Corp. - November 9, 2016) - Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) (the "Company" or "Abattis"), announces that the Company and its subsidiary, Vergence Visionary Bioceuticals Corp. doing business as Vergence Sales and Marketing Group, have entered into an international licensing and co-branding agreement with Green Nature Health Care Products Inc. ("Green Nature") of mainland China. Under the terms of the Licensing Agreement Abattis may purchase Green Nature, subject to an independent valuation, by issuing Common Shares of Abattis. If Abattis does not acquire Green Nature within 12 months of the initial Licensing Agreement, the Licensing Agreement may be amended by the agreement of Abattis and Green Nature.
The Green Nature Agreement allows for Vergence to leverage the sales channel of Green Nature and to co-brand and market the products of Green Nature and Vergence worldwide. Green Nature is a leading importer of dried fruit products, such as blueberries, cranberries and cherries in mainland China. Green Nature is a supplier to 200 food based industry chains including Shanghai Duty Free with five stores, Yangzhou Pharmacy with 20 stores, and Wal-Mart, which has 388 stores in China. In Canada, Green Nature's products can be found at TNT Markets, and approximately 50 health care product stores. Green Nature will conduct import/export, sales and marketing of the intellectual and tangible property of Vergence and Abattis in the territories of mainland China, Hong Kong, Taiwan, Japan and South East Asia.
The Agreement allows for an excellent opportunity for Vergence Sales and Marketing to acquire and brand under the Vergence umbrella, Green Nature's local ingredient sourcing and import/export expertise. The licensing and acquisition agreements allow for Vergence to re-brand Green Nature under the Vergence umbrella and to partake of the Green Nature sales and marketing channels worldwide.
Jasmine Guan of Green Nature says: "I am excited by the opportunity to implement the synergies I see between the Green Nature and Vergence/Abattis product lines in the Pacific Rim. I believe this relationship will be a long and rewarding one for Green Nature and the shareholders of Abattis."
Jasmine Guan will be joining Abattis as the General Manager of International Marketing and Sales from our Vancouver office.
In addition, with the recently executed Letter of Intent with GDP Pharmaceuticals in Korea, Abattis is developing a pipeline for its nutraceutical products and services in all Pacific Rim territories. Abattis will be executing a definitive agreement with GDP by calendar year end, December 31, 2016.
About Abattis Bioceuticals Corp.
Abattis is a specialty agricultural technology and biotechnology company which aggregates, integrates, and invests in agricultural 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 also 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: www.abattis.com.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purposes of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the Canadian market.
About Vergence Visionary Bioceuticals Corp.
Vergence Visionary Bioceuticals, dba Vergence Sales and Marketing Group, is a wholly owned subsidiary of Abattis Bioceuticals Corp. based in Vancouver, B.C., Canada. The Vergence team are bioceutical marketing specialists focused on health products to penetrate the fast growing market for natural, safe and effective natural products that meet unmet wellness needs.
About Green Nature Health Care Products
Green Nature Health Care Products Inc. (http://www.green-nature.ca/en/) was established in 2012 by Jasmine Guan. The main market is the local travelers and immigrants, wholesalers. Over 400 customers have been obtained in China since the end of 2012 on dried blueberry and cranberry dried products, including the Wal-Mart chain supermarket and more than 200 to import and export food-based industry chain supermarkets. Green Nature has customs clearance through six cities in China: Shanghai, Nantong, Qingdao, Tianjin, Guangzhou, Hong Kong.
ON BEHALF OF THE BOARD
"Rene David"
Rene David, CFO, Acting CEO
For further information, contact the Company at (604) 336-0881 or at news@abattis.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", "should", "believe" and similar expressions are intended to identify forward-looking statements. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time. NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
