Abattis Bioceuticals’ (ATTBF) Northern Vine Labs Could Benefit from New Rules


Ryan Allway

January 4th, 2017

News, Top News


The Canadian Cannabis Task Force on Legalization and Regulation recently released its final report on cannabis legalization and regulation. In the report, the task force emphasized the need for mandatory laboratory testing to prevent contaminated products from hitting the market. Licensed producers will also be required to ensure that packaging contains accurate descriptions of a drug’s potency, including tetrahydrocannabinol (THC) and cannabidiol (CBD) levels.

Northern Vine Canada Inc., an Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) subsidiary, is one of only 18 laboratories licensed by Health Canada. With new rules set to take effect in the near-term, the company plans to market its testing services to licensed producers and patients to generate significant revenue in 2017 and beyond. These revenues will be used to help finance the company’s move into functional foods and other areas of the market.

In this article, we will take a closer look at these regulations and the potential impact on the company’s testing and other businesses.

Testing: Cornerstone of Legalization

The Canadian government has a mixed track record when it comes to cannabis testing. In September 2016, a Globe and Mail Canada investigation found that government officials in Ottawa failed to act after receiving tests showing tainted retail marijuana being sold at unlicensed dispensaries. Pesticides, fungicides, and other contaminants were found in 13 of 22 samples tested; a sign that stricter regulations are needed.

The Cannabis Trade Alliance of Canada, which represents licensed producers, recommended that the new laws provide for mandatory testing, saying, “mandatory laboratory testing of all cannabis products (potency and contaminants) [is] a clinical step in the seed-to-sale process when considering public health and should be the main objective in the legalized framework”.

The Canadian Cannabis Task Force took these factors into consideration when developing its final recommendations for the legalization of cannabis. According to the task force, “Laboratory testing is a cornerstone of some of the health and safety measures proposed. Specifically, the mandatory product testing recommended by the task force is intended to minimize the risk of contaminated products entering the market and to verify the information on labeling.”

Abattis is Well Positioned to Capitalize

Abbatis Bioceuticals’ Northern Vine Laboratories Inc. holds a Controlled Substance License (CSL) with Health Canada for the possession and testing of cannabis and related active ingredients, which makes it one of just 18 approved laboratories in the country. The subsidiary’s product certification and quality assurance programs incorporate best practices and procedures for application in the Canadian cannabis industry, making it a premier option in the space.

The company plans on actively marketing its lab testing services to licensed producers and patients to help ensure that cannabis and related products are compliant and safe for consumption. Once implemented, these efforts could translate to significant revenue growth as the medical and recreational cannabis markets grow in 2017 and beyond.

According to Deloitte, Canada’s recreational cannabis industry alone could be worth more than $22 billion per year. A recent study polled Canadians and found that 22% consume the herb on at least an occasional basis while 7% consume it every day. Another 17% indicated that they might try it if it’s legalized, making the total market about 40% of the population. All the products sold under the new rules will need to be tested by just 18 approved labs.

Looking Ahead

Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) is poised to benefit from the proposed cannabis regulations through its Northern Vine Labs subsidiary. At the same time, the company continues to develop its other subsidiaries in functional foods and other areas. For example, the company continues to make inroads through new board member Dr. Shuang Xie’s channels in China to access extraction technologies for industrial hemp that could generate significant revenue down the road.

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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