Abattis Completes Investment in CannaNUMUS Blockchain and Announces CannaNUMUS’s Achievement of a Significant Milestone


Ryan Allway

February 8th, 2018

News, Top News


VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) —

Abattis Bioceuticals Corp. (the “Company” or “Abattis“) (CSE:ATT) (OTC:ATTBF) announces that, further to its news release dated February 1, 2018, it has completed its acquisition of a 49% stake in CannaNUMUS Blockchain Inc. (“CannaNUMUS”), pursuant to the investment agreement dated January 31, 2018 between the Company and CannaNUMUS (the “Investment Agreement”).

The Company is also pleased to announce that CannaNUMUS has achieved the first milestone (the “Milestone”) under the Investment Agreement by entering into an agreement with Active Health Products Ltd (“Active Health”).

“We are excited to see such immediate progress on our investment in CannaNUMUS,” stated Rob Abenante, President and CEO of Abattis.  “We believe this is just beginning of many more lucrative agreements and synergies for CannaNUMUS with LPs and also Licensed Dealers,” added Mr. Abenante.

Abattis believes that its investment in CannaNUMUS will appreciate significantly in value as CannaNUMUS gets closer to an ICO and signs agreements with Licensed Producers (“LPs”) and late stage LP applicants.

Active Health, located in Duncan, BC, is the second cannabis cultivation project for its founder and CEO, Jim Money.  Mr. Money, recently developed and sold Broken Coast Cannabis Inc. (“Broken Coast”), also located on Vancouver Island, for $230 million to Aphria Inc. Broken Coast is now successfully operating as a licensed producer.

Pursuant to Active Health’s agreement with CannaNUMUS, CannaNUMUS will invest into Active Health and, in exchange, Active Health will participate as one of CannaNUMUS’s blockchain portfolio companies.  More specifically, Active Health will use a fixed percentage of its quarterly revenues to buy CannaNUMUS tokens on the open market and subsequently burn them. The effect of the “buy and burn” will be similar to that when a company repurchases its own stock, and will function as method of providing liquidity to the market for CannaNUMUS tokens. Token burning will also act as a low-friction method of returning value to token holders.

CannaNUMUS’s innovative approach is expected to leverage blockchain technology in a way that brings market participants closer to the companies that they wish to support. Costly and laborious fund-administration procedures that are typical of many investment funds will replaced by a new, transparent approach to funding. When paired with well managed companies like Active Health, there will be significant potential for changing the way that investors are involved in markets.

“With our model, you take well managed companies, pair them with the investment oversight in CannaNUMUS, and support those relationships with transparent and secure technology,” stated Simran Gill, CEO of CannaNUMUS.  “At the end of the day, there’s more left on the table for investors,” added Mr. Gill.

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

ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,

“Rob Abenante”

Robert Abenante, President & CEO

For more information, please visit the Company’s website at: www.abattis.com or www.northernvinelabs.com

For inquiries, please contact the Company at (604) 674-8232 or at news@abattis.com.

Certain information set out in this news release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate”, or “will”, and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements in this press release include statements regarding: the Company’s hope that its investment in CannaNUMUS will appreciate significantly in value as CannaNUMUS gets closer to an ICO and signs agreements with other LPs and late stage LP applicants; that CannaNUMUS’s agreement with Active Health is just the beginning of many more lucrative agreements and synergies for CannaNUMUS with LPs and also Licensed Dealers; the terms of CannaNUMUS’s agreement with Active Health; that the effect of the “buy and burn” will be similar to that when a company repurchases its own stock, and will function as method of providing liquidity to the market for CannaNUMUS tokens; how token burning will act as a low-friction method of returning value to token holders; CannaNUMUS’s ability to leverage blockchain technology in a way that brings market participants closer to the companies that they wish to support; how costly and laborious fund-administration procedures that are typical of many investment funds will replaced by a new, transparent approach to funding; the significant potential for changing the way that investors are involved in markets. 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 the Company’s investment CannaNUMUS may not appreciate significantly in value or that CannaNUMUS may not complete an ICO or sign more agreements with other LPs and late stage LP applicants; that CannaNUMUS’s agreement with Active Health may not be the beginning of many more lucrative agreements and synergies for CannaNUMUS with LPs and also Licensed Dealers; that the terms of CannaNUMUS’s agreement with Active Health may not be performed as contemplated; that the effect of the “buy and burn” will not be similar to that when a company repurchases its own stock, or that it will not function as method of providing liquidity to the market for CannaNUMUS tokens; that token burning will not act as a low-friction method of returning value to token holders; that CannaNUMUS will not be able to leverage blockchain technology in a way that brings market participants closer to the companies that they wish to support; that costly and laborious fund-administration procedures that are typical of many investment funds will not be replaced by a new, transparent approach to funding; that CannaNUMUS will not have change the way that investors are involved in markets; risks, uncertainties and other factors that are beyond the control of the Company; risks associated with the cannabis industry in general; rules and regulations relating to the cannabis industry; operational risks associated with development and production operations; and delays or changes in plans and unanticipated costs and expenses, among others. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. In particular, there is no assurance that the private placement will close in the manner or on the terms outlined above. Although the Company believes that the expectations reflected in the forward-looking statements set out in this news release are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this news release are expressly qualified, in their entirety, by this cautionary statement. Except as required by law, we do not undertake to update any forward-looking statement contained in this news release.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Source: GlobeNewswire (February 8, 2018 – 8:37 AM EST)

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Ryan Allway

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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