Abattis Obtains DTC Eligibility
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2017) - Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) (the "Company" or "Abattis") is pleased to announce that it has obtained Depository Trust Company ("DTC") eligibility in the United States ("US").
The DTC is a stock depository and facilitates electronic trading in the US. When shares are DTC eligible, trades are completed electronically in a more cost effective and timely method for settlement. Shares that are DTC eligible often increase trading volume. In addition, DTC eligibility addresses the issue that many US firms have that prohibit trading in shares that are not DTC eligible. As Abattis moves forward with its business plans, DTC eligibility will extend its reach to a broader audience of investors, setting the stage for exposure on an international scale.
"We have been working toward DTC eligibility for the past few months with the focus on being more accessible to US investors and financiers. We are pleased to continue to better service our US investor base, which represents a large portion of our shareholder support," says Rene David, Chief Operating Officer of Abattis.
The Company has been working to grow its sales through its subsidiary, Vergence Visionary Bioceuticals Corp., dba Vergence Naturals™ and is ramping up its sales and client base in its subsidiary, Northern Vine Canada Inc., dba Northern Vine Labs™. Abattis is also in the late stages of its first formulation and eagerly awaits the delivery of its first two machines from Suzhou Raybot Material Tech Corp. ("Raybot"). In addition to this organic growth the Company is also working on several potential acquisitions to further fuel its growth.
"DTC eligibility will provide Abattis with increased visibility and convenience for US investors. We anticipate that our shareholders will benefit from increased liquidity, larger shareholder base and increased exposure," said Abattis President and CEO, Robert Abenante. "As we work diligently to create growth in our company and strive to become a leading service provider in the cannabis industry, we aim to reach as many people as possible."
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.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada (Dealers License) for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian cannabis market.
About Vergence Visionary Bioceuticals Corp.
Vergence Visionary Bioceuticals Corp., dba Vergence NaturalsTM, is a wholly owned subsidiary of Abattis, 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.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
Robert Abenante, President & CEO
For inquiries, please contact the Company at (604) 336-0881 or at firstname.lastname@example.org.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "intends", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding the impact of DTC eligibility on the trading volume of the Company's shares; and, the increased exposure, visibility and volume of the Company's shares; the efficiency of trading, and if or when all shareholders will benefit from DTC eligibility; the broadening of the shareholder base; the level of the capital markets for companies in the cannabis space; the ramping up of sales and growth of sales through its subsidiaries, Vergence Visionary Bioceuticals and Northern Vine Canada Inc.; the organic growth; and, growth through future acquisitions. 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 testing and formulation and extraction technologies may not work as expected or at all, that DTC eligibility will not have the expected positive impact on shareholders, the Company will be unsuccessful in developing new product formulations in the time expected or at all, the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues, the Company's competitors may develop competing technologies, changes in regulatory requirements and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where as a result of new information, future events or results, or otherwise, except as required by applicable securities laws.