Abattis Announces Private Placement for Proceeds of up to $6 Million

December 15, 2017 7:15 PM EST | Source: Abattis Bioceuticals Corp.

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2017) - Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB: ATTBF) (the "Company" or "Abattis") is pleased to announce that it is undertaking a non-brokered private placement (the "Offering") gross proceeds to the Company of up to $6 million.

"After strong demand for our last capital raise, the Company is pleased to announce a second capital raise at a significant increase in valuation" stated Rob Abenante, President and CEO of Abattis. "The Company is encouraged by the strong demand from investors and are excited to rapidly expand the rollout of laboratories and deployment of extraction equipment with strategic partners."

The Company will issue up to an aggregate of up to 13,953,488 units at a price of $0.43 per unit (each a "Unit"). The Company reserves an over-allotment option to increase the Offering by up to 15%. Each Unit consists of one common share (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant is exercisable for one Common Share for a period of three years from the closing date of the Offering at an exercise price of $0.65 per Common Share. In the event that the Company's common shares trade at a price on the Canadian Securities Exchange (the "Exchange") (or such other exchange on which the common shares may be traded at such time) of greater than $0.75 per share for a period of 10 consecutive trading days, the Issuer may accelerate the expiry date of the Warrants by giving notice to the holders thereof (by disseminating a press release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the thirtieth day after the date of such notice (the "Acceleration Provision"). Proceeds from the private placement will be for strategic investments, deployment of extraction equipment and general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Abattis Bioceuticals Corp.

Abattis is a specialty life sciences and biotechnology company which incubates, integrates, and invests in life science 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.

"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) 336-0881 or at news@abattis.com.

Certain information set out in this news release constitutes forward-looking information, which may include information relating to the proposed financing of the Company and its use of proceeds. 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 are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, rules and regulations relating to the cannabis industry, operational risks associated with development and production operations, 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.

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