Abattis (ATTBF): A Leader in Canada’s Cannabis Testing Industry


Ryan Allway

October 17th, 2016

News


Canada’s cannabis industry may well be more established than that of the United States, but is lagging behind in one critical area – cannabis testing.

While many U.S. states require independent lab testing, it was only after concerns were raised recently that the government was not doing enough to prevent unauthorized dispensaries from selling contaminated product, that Canada’s cannabis laws permitted consumers to screen cannabis products for contaminants

Here is a closer look at the evolution of Canada’s cannabis testing regulations and why Abattis Bioceuticals (OTC: ATTBF) Northern Vine Laboratories is well positioned within this country’s burgeoning market.

Contaminated Cannabis

In July 2016 the Globe and Mail conducted an investigation into contamination in cannabis after purchasing products from nine storefronts in Toronto.  Their research team found that one-third of the samples would not pass a Health Canada safety test. Three of the nine samples contained excessively high levels of bacteria and one not only contained mold but yeast at concentrations that could cause serious lung conditions.

Surprisingly, the Controlled Drugs and Substances Act prevented government-approved cannabis testing facilities from possessing any amount of the drug brought in by the public. With hundreds of illegal dispensaries operating outside of the MMPR program, this meant that consumers had no way of knowing if their product was safe.

Consequently, in August 2016, Health Canada introduced an exemption to the Controlled Drugs and Substances Act that allowed government-approved labs to test any cannabis products. So far, more than 17 independent labs have been opened across the country, including pharmaceutical research labs, university labs and forensic labs. Many growers and collectives have also started to pool their resources in order to have products tested and mitigate any issues.

Building a Presence

Abattis Bioceuticals’ Northern Vine Labs recently secured a Controlled Substance License with Health Canada for the possession of cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. The company offers cutting-edge cannabis testing and research services to licensed producers, law enforcement and other CSLs.

According to GreenWave Advisors, the cannabis testing industry is one of the most attractive subsets of the cannabis industry given itshigh barriers to entry and margins. The research firm believes that by 2020 more than five million pounds of cannabis will be tested, which translates into lab testing revenue of approximately $565 million. GreenWave adds that the natural expansion into data analytics and consulting could push that figure to more than $850 million per year by 2020.

According to GreenWave founder, Matthew Karnes, “It’s an exciting time to be in lab testing, because it’s one of the subsectors within the cannabis industry that we believe is sustainable as laws change.  We view this as the most attractive subsector of the industry.”

Northern Vine’s long-term goal is to become a partner in both cannabis testing and product development. By building up its expertise in extracts, the company is positioned to take advantage of the industry’s transition from dried cannabis to more conventional delivery methods like functional foods and capsules. While the independent nature of the lab results will reassure medical professionals and patients, licensed producers would benefit from the cost-savings of outsourcing these activities.

The Bottom Line

Now that regulators address shortcomings in the Controlled Drugs and Substances Act, Canada’s cannabis testing industry will continue to rapidly evolve.  Having recently been licensed, Abattis Bioceuticals’ (OTC: ATTBF) Northern Vine Labs is poised to not only help government and the industry address concerns by providing high-quality independent lab testing, but provide services which can be expanded to create a pharmaceutical-grade option for licensed producers looking to develop leading products in the future.

For more information, visit the company’s website at www.abattis.com.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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