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Abattis Announces Appointment Guy Dancosse, Q.C. to Board of Directors

Vancouver, BC – September 16, 2014 – Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), a specialty biotechnology company focused on cultivating, licensing, and marketing proprietary ingredients, bio-similar compounds, equipment, and consulting services to North American medicinal markets, today announced that Guy Dancosse, Q.C. has agreed to join the Board effective immediately as an independent Director.

Guy P. Dancosse, Q.C. has extensive experience in arbitration, negotiation and mediation, nationally and internationally, in many areas of business, including the public sector. He has appeared before Courts of all jurisdictions in Canada. He acted as counsel in commercial arbitration, both nationally and internationally (International Chamber of Commerce). He also served as Arbitrator in commercial cases in Canada. Finally, he acted as counsel, and as party appointed Arbitrator in Labour and Employment matters across Canada, and in the United States.

He was part of Canadian Task Forces and Inquiry Commissions (Pilotage in the St. Lawrence River and Native Land Claims), and also headed World Bank and African Development Bank missions with mandates to review and recommend reforms to the legal and judicial systems of countries in Africa (Tanzania – Chad).

He served in the Canadian Foreign Service as a foreign service officer posted in Washington, D.C. and worked at General Dynamics’ legal department (Canadair and Flextrack Nodwell) on their international aircraft sales programs.

He has undergone post-graduate training in mediation and arbitration at Harvard University, Boston, and is a member of the Advisory Board for Groupe Océan Inc. and the Board of Directors for the Royal Canadian Mint. He is also a member of the Canadian Arbitration Committee of the ICC International Court of Arbitration (Paris). He has completed the Directors Education Program jointly developed by the Institute of Corporate Directors (ICD) and the Rotman School of Management to help board directors clarify their mission and fully exercise their leadership potential as a Board member, at Rotman School of Management in Toronto.

Abattis CEO Mike Withrow commented, “We are delighted to welcome Guy to the Board of Abattis. He speak three languages is knowledge in International Law, and has a strong local and International network which are huge assets he brings as we endeavor to obtain a Licensed Producer status on the Botanical Drug facility in Montmagne Quebec.”

The Company is pleased to announce that, in compliance with the Company’s option plan, the Company has granted 100,000 incentive stock options to certain directors and 50,000 shares at a price of $0.33.

About Abattis Bioceuticals Corp.

Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its mass cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere 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

“Mike Withrow”
Michael Withrow, President & CEO

For further information, contact the Company’s CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION

This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

Abattis' Phytalab Receives Cannabis Lab Certification In Washington

Vancouver, BC – September 8th, 2014 – Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America, today announced that Phytalytics LLC. (“Phytalab.com”), its 51% controlled US subsidiary, has received provisional certification from the Washington State Liquor Control Board. This milestone enables the lab to legally offer service to the new legal Cannabis industry.

Phytalab is proud to offer cannabis analysis laboratory services under provisional certification by the Washington State Liquor Control Board (WSLCB). Phytalab provides quality control testing services for I-502 Market Marijuana Producers and Processors. Chief Science Officer Dr. Michelle Sexton provided contracted services to the WSLCB for design of the certification quality control checklist for good laboratory practice.

Phytalab leads the industry in scientific expertise and education leading a team with 25 years combined experience in the quality control, product development and use of botanical medicines. Dr. Sexton and Dr. Kaleb Lund are published researchers and both come with extensive background and experience in analytical chemistry and phytochemical analysis.

Phytalab, originally founded as Phytalytics LLC, was the first laboratory to provide testing services in Washington State for medical Cannabis under State law. Dr. Sexton has dedicated her post-doctoral career to providing education on Cannabis use and guidance on quality control of Cannabis as botanical medicine. She contributed to the development of the analytical and quality control guidelines that Washington State adopted: the American Herbal Pharmacopoeia Cannabis Monograph.

“We measure components of the plant that contribute to it’s overall character, such as the terpenoids. Legal Cannabis is a lot like the microbrew or wine industries, in that growers in WA dedicate themselves to breeding diverse genetics” says Dr. Sexton. “While THC may give Cannabis its’ “kick”, CBD is mellower and the terpenoids will guide the general “mood” of the variety. Knowing about these characteristics makes legal Cannabis more fun and interesting, as well as safe.”

Rene David, CFO and COO of Abattis says: “Phytalab’s Certification is a milestone that signifies a true connection to Abattis’ mandate to be a science leader. I am extremely proud of Michelle and her team. The approval by the WSLCB offers proof to one of the many goals that Abattis works toward. We commit to our investors that we constantly work on the achieving our licensing and implementation goals. We expect to see more success in Washington in the months and years to come”.

Abattis CEO Mike Withrow commented, “This is one more milestone the team has achieved in building our overall plan. In addition to revenue, having a licensed lab will serve as a core competency in the Abattis group of companies that collects and stores a bank of tissue culture and logs invaluable data that can be repurposed within the Abattis group of companies and with strategic partners licensed to work with Cannabis.”

About Phytalab.com

Phytalab (www.phytalab.com) is PhytaLAB is the original Washington Cannabis testing facility setting the standard for Good Laboratory Practice in the Cannabis industry. We come to this industry with extensive herbal product experience. We offer a range of services for growers, producer/processors and retail facilities and provide data on which to base informed business decisions. Our background in Botanical Medicine puts us first when you are looking for help in product development for specific plant chemotypes and standardization for reproducibility and efficacy. PhytaLAB offers consulting services to both business and regulatory entities. We can help with questions around methods, safety, packaging and labeling, and more. Please contact us for our unrivaled expertise.

About Abattis Bioceuticals Corp.

Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its mass cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere 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

“Mike Withrow”
Michael Withrow, President & CEO

For further information, contact the Company’s CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

A Moral Case for Investing in Marijuana

If you are like me you have been watching the evolution of the marijuana sector with great interest.  What seems like slowly but one day at a time, the use of marijuana both for medical and recreational purposes is being met with wider acceptance.  And while ‘wider’ is an arbitrary term, never did I expect to see two states within the United States fully legalize its recreational use.  Twenty years ago, that potential was unheard of.

 

So now in alignment with this evolution, the marijuana business has reached the public markets and as you could imagine, the sector is on fire.

 

But for some, myself included, there is still a moral dilemma I have been wresting with about investing in marijuana.  As you probably well know, for years, smoking marijuana was regarded with such stigma.  It was the terrain of the irresponsible, the lazy, and the outcasts of society most mentors around me would suggest.  And I should know.  I used to smoke.  A lot.  I was roughly a daily smoker, but not for any medical needs per se.  My use was recreational.  And while I believe everything happens for a reason, I experienced a great deal of criticism and stigma for using the plant at the time.

 

I have long since stopped using marijuana but am now witnessing the emergence of widespread acceptance and apparent truths about the plant emerging right in front of my eyes.  It is quite a departure from the stories about the ‘drug’ that I was used to hearing when I was younger.  Growing up with a ‘smoking marijuana is wrong’ mainstream narrative for so many years, while on the street, in real life, it was already so prevalent and obviously socially accepted underground it brings me pause in considering the swing of the story the other way – into full blown legal acceptance.

 

There are those who are still clinging to the past regarding whether or not someone should be allowed to smoke or use marijuana, but in my opinion the trend is in.  Despite having grown up to lose interest in using the plant for my own purposes, and not otherwise suffering from any long term effects that I can point to, there is no question that resistance to its legal use is going to continue to fall, and investment in this sector has massive potential in the coming months and years.  That said, just the same I have sat back to consider and evaluate how I can morally justify my investment in a sector I have been programmed for so many years to believe is wrong.

 

Nearly two years ago I had a go public marijuana venture available to be acquired on my desk.  The deal eventually fell through, and since that time I admit I have sat on the sidelines, for the reasons I am describing herein.  That said, I have recently come to terms with the dilemma, to the extent that I am now open to investing in the sector.  Here are my reasons:

 

5-    I Believe Each Individual is Responsible for Themselves.

 

Today, I chose not to use marijuana, but I don’t believe that means I should be making that choice for others.  And that goes for both medical AND recreational use.  In my opinion, to each their own, and as there are beneficial vs. detrimental effects to an individual who uses the plant, I believe that that individual needs to be responsible and hold themselves accountable for their own choices.  Especially in a medical circumstance, who am I, nor anyone else who is not going through any of these issues to hold someone back from using this potential treatment?  If someone is finding some degree of peace from using marijuana to help them treat some serious issues they are working through, then I do not believe I have any right to restrict or impose my view on their circumstances, unless of course their use is detrimental to society as a whole.  And while it used to be widely believed and accepted that the legalization of marijuana carried a detrimental effect on society, significant evidence is now emerging to suggest that the opposite is true.

 

4-    There are Many more Harmful Legal Products in the System.

 

I would argue with you that smoking cigarettes is exceptionally harmful, but legal.  Alcohol can create a litany of health issues (and some health benefits), but is legal.  We allow companies like McDonald’s to serve food that is so heavy manipulated it is barely passable as the food it is marketed and sold as[1], and it is legal.  But this natural product that has been demonstrated to provide a number of health benefits is still illegal in many jurisdictions?   In my opinion, to the extent it has harmful side effects is the responsibility of the individual to weigh the cost v. benefit in their own circumstances.  (Ie. McDonald’s exists, but I don’t eat there, even though before I knew any better my first job was at a McDonald’s).  It should be the responsibility of each to educate themselves and make their own determination whether or not it is appropriate for their circumstances, not the state.

 

3-    The Potential for Marijuana Research and Development holds Great Promise.

 

Research into the medical potential of marijuana itself was suppressed for many years[2] even though it had been recommended as providing health benefits for nearly 5000 years[3].  Once that veil was lifted, marijuana use has been proven to be effective in, at minimum, assisting in the treatment of a number of major health issues.[4]  But there are other expanded areas of research now underway as well, including methods of delivering the benefits of marijuana without having to smoke it, and the development of products that provide the medical benefits of marijuana without the psychoactive side effects[5].  There is great potential in these areas, so I believe it appropriate to support quality companies and management teams with these kinds of visions to advance research and the delivery of products in this realm.

 

2-    The Cost of Enforcing Marijuana Related Criminal Activity is Atrocious.

 

If you have done any research into the enforcement costs associated with suppressing marijuana, you must agree the numbers are crazy.  In Canada, and although a little dated, a 2002 the Senate report pegged the annual cost of cannabis to law enforcement and the justice system at $300 million to $500 million[6].  In the United States, Dr. Jeffrey Miron, visiting professor of economics at Harvard University suggested in his report that replacing marijuana prohibition with a system of legal regulation would save approximately $7.7 billion in US government expenditures on prohibition enforcement — $2.4 billion at the federal level and $5.3 billion at the state and local levels. Further, these expenditures are increasingly opposed to the will of the people[7], and in veritable democracies, the will of the people forms the rule of law.  Personally, I do not want my tax dollars going into programs that suppress something that can benefit people, that a large proportion of the population is already doing and wants, and that costs so much to try and sustain and maintain the status quo, which is/was the enforcement and suppression of the marijuana industry.

 

1-    The Social and Financial Benefits of Legalization are Rapidly Revealing themselves in Early Adopting Jurisdictions.

 

Colorado and Washington State are the first case studies in this regard, and the statistics are stunning.  Colorado is reporting a 50% reduction in criminal activity[8].  During the first month of legal marijuana sales in Washington state, stores sold just under $3.8m, which is expected to bring in more than $1m in state taxes.[9]  The state of Colorado has collected $34.9m in all marijuana taxes, fees and licenses since recreational sales became legal in January. That number includes medical marijuana taxes.[10]  Both states have also indicated they intend to reinvest the tax revenue into community services and education, which I suggest is a real positive.[11]

 

Ultimately I could probably go on with my list, but I believe I have at minimum now painted the outline of my position.  If you don’t smoke marijuana, you don’t have to.  If you want to experience the potential benefits of marijuana without smoking it, those products are emerging.  If you want to experience the potential benefits without getting high, those products are emerging too.  You still have the personal power to elect to participate personally in your use of marijuana or not, but in the meantime, I would argue that resistance to removing regulation that suppresses its use (either active or by apathy) appears to be contributing to higher than necessary rates of criminal activity, extraordinary enforcement costs, and lost potential tax revenue, all the while impeding those who can benefit from it from gaining safe and reliable access.

 

So while there are many other areas of medical research that I support, I hereby also support the legalization of the medical and recreational marijuana sector globally, and equally why I am comfortable considering such companies in my investment portfolio.

 

Best of Luck,

 

Chad McMillan

Editor-in-Chief

www.marijuana-stocks.net

Connect with me on linkedin: https://www.linkedin.com/in/mcchad

Disclaimer.  As of this writing, I do not own shares in any marijuana companies.


Licensed Canadian Medical Marijuana Producers List

As of August 26th, 2014, 13 Canadian Companies are now licensed producers authorized to sell or provide marijuana to eligible persons under the Canadian Marihuana for Medical Purposes Regulations (MMPR).  We present the following in no particular order:

Tweed – www.tweed.com 

Organigram – www.organigram.ca

Bedrocan – www.bedrocan.ca

In the Zone – www.inthezoneproduce.ca

Delta 9 – www.delta9.ca

Cannafarms – www.cannafarms.ca

Thunderbird Medical – www.thunderbirdmedical.ca

Mettrum – www.metrrum.com

Med Relief – www.medrelief.com

Peace Naturals Project – www.peacenaturals.com

Cannimed – www.cannimed.ca

Tilray – www.tilray.ca

Whistler Medical Marijuana – www.whistlermedicalmarijuana.com

 

Source: http://www.hc-sc.gc.ca/dhp-mps/marihuana/info/list-eng.php 

OrganiGram Announces Closing of Reverse Takeover and Concurrent Financings for $7.5 Million

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 25, 2014) - OrganiGram Holdings Inc. (TSX VENTURE:OGI) (formerly, Inform Exploration Corp.) (TSX VENTURE:IX) (the “Company” or “Inform“) is pleased to announce that it has, effective August 22, 2014, completed its acquisition (the “Acquisition“) of all of the issued and outstanding securities of OrganiGram Inc. (“OGI“), a New Brunswick licensed producer of medical marihuana. The Company is now, through its wholly owned subsidiary OGI, engaged in the licensed production of medical marihuana.

The terms of the Acquisition, which was structured as a Reverse Takeover (“RTO“) under the rules and policies of the TSX Venture Exchange (the “TSX-V“), were previously announced by the Company in a release dated June 13, 2014. The shareholders of OGI received common shares of the Company (the “Inform Shares“) in exchange for their common shares of OGI (the “OGI Shares“) on the basis of 34,500,000 Inform Shares issued at a deemed price of $0.85 per Inform Share in exchange for the 18,678,496 OGI Shares (the “Share Exchange“) issued and outstanding. Immediately prior to the Share Exchange, the Company completed a consolidation of the issued and outstanding shares in the capital of Inform (the “Consolidation“) on a 1 to 0.8836 basis. The Company will resume trading on the TSX-V on August 25, 2014 under the symbol “OGI”.

In connection with the Acquisition, the Company completed two brokered private placement financings (the “Brokered Financings“) of common shares for aggregate gross proceeds of approximately $4.3 million based on the sale of 5,058,172 shares at a price of $0.85 per share on a post-Consolidation basis. The Company engaged Jordan Capital Markets Inc. (“Jordan“), and Jacob Securities Inc. (“Jacob“) to act as agents on a commercially reasonable efforts basis in connection with the Brokered Financings. As compensation for acting as agent, Jordan and Jacob each received a cash commission (the “Agent’s Commission“) equal to 6% of the gross proceeds raised (up to a maximum of $2.5 million), and compensation options (the “Agent’s Options“) entitling the agents to purchase shares (the “Agent’s Shares“) of the Company equal to 6% of the number of securities sold in the Brokered Financings (up to a maximum of $2.5 million), exercisable at a price of $1.00 per Agent’s Share and expiring 12 months from closing of the Brokered Financings. The Agent’s Options are subject to accelerated expiry, subsequent to the expiry of a 4 month and 1 day period from the closing of the Brokered Financings, should the common shares of the Company trade at a price of $1.50 per share or more for a period of twenty consecutive days.

Also in connection with the Acquisition, the Company completed a non-brokered private placement financing (the “Non-brokered Financing“) of common shares for aggregate gross proceeds of approximately $3.2 million based on the sale of 3,805,277 shares at a price of $0.85 per share on a post- Consolidation basis. In connection with the Non-brokered Financing, the Company an aggregate of $64,260 in finder’s fees, and issued finder’s options entitling finders that assisted with the Non-brokered Financing to purchase an aggregate of 75,600 shares of the Company (the “Finder’s Options“). The Finder’s Options are exercisable at a price of $1.00 per Finder’s Option and expire 12 months from closing of the Non-brokered Financing. The Finder’s Options are subject to accelerated expiry, subsequent to the expiry of a 4 month and 1 day period from the closing of the Non-brokered Financings, should the common shares of the Company trade at a price of $1.50 per share or more for a period of twenty consecutive days.

Proceeds from the Brokered Financings and the Non-brokered Financing will be used for facilities development, marketing and working capital.

“The Team at OrganiGram is proud to have arrived at their go public date and wants to acknowledge the tremendous effort by all involved to make it possible,” said Denis Arsenault, Chief Executive Officer of the Company, adding, “the listing on the TSX and the financing secured in the private placement ensures Management has the resources to execute its business plan and position OrganiGram Inc as the leader in the Medical Marijuana industry in Canada. As CEO, it has been a privilege to work with all involved in the effort to get us to this great point in the Company’s history.”

Medical marihuana has been legally available to Canadians upon the advice of a physician since 2001. Previously, medical marijuana was only available to individuals by applying for access to Health Canada’s supplies, obtaining a personal-use production license, or designating a third party to cultivate marihuana on their behalf under license. With the introduction of the Marihuana for Medical Purposes Regulations, the Government of Canada has enabled the establishment of commercial marihuana production and sale by licensed producers.

The Company was incorporated under the Business Corporations Act (British Columbia) and is publicly traded on the TSX-V. The Company was formerly engaged in the acquisition, exploration and development of natural resource properties and has ceased all resource exploration activity.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the results of exploration activities — that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

CONTACT INFORMATION

  • David Doherty
    Director
    OrganiGram Holdings Inc.
    (604) 315-1237Brett Allan
    Director of Investor Relations
    OrganiGram Holdings Inc.
    (416) 907-4148

Bedrocan Cannabis Corp. (formerly POCML 2 Inc.) completes Qualifying Transaction; Resulting Issuer Expected to Commence Trading August 25, 2014

TORONTO, Aug. 21, 2014 - Bedrocan Cannabis Corp. (formerly POCML 2 Inc.) (TSX-V: BED) (the “Corporation”) is pleased to announce that it has completed its qualifying transaction (the “Qualifying Transaction”) with Bedrocan Canada Inc. (“Bedrocan”), as previously announced in its press releases dated April 14 and May 15, 2014.

In connection with the Qualifying Transaction and prior to closing, the Corporation filed articles of amendment pursuant to which it (i) consolidated its common shares on the basis of one “new” common share (a “Post-Consolidation Share”) for every two “old” common shares issued and outstanding (the “Consolidation”); and (ii) changed its name to “Bedrocan Cannabis Corp.”  In addition, an aggregate of 13,500,000 subscription receipts of Bedrocan which were issued pursuant to a concurrent private placement completed by Bedrocan on May 15, 2014(the “Concurrent Financing”) were converted for no additional consideration into an aggregate of 13,500,000 common shares and 6,750,000 share purchase warrants of Bedrocan (the “Bedrocan Underlying Warrants”) immediately pre-closing.  The Corporation then acquired all of the issued and outstanding securities of Bedrocan pursuant to a three cornered amalgamation in connection with which (i) Bedrocan amalgamated with a wholly-owned subsidiary of the Corporation; and (ii) the Corporation issued one Post-Consolidation Share to former Bedrocan shareholders in exchange for every common share of Bedrocan so acquired.  Pursuant to the Qualifying Transaction, the Corporation also issued (i) an aggregate of 2,000,000 stock options (the “Replacement Options”) in consideration of the cancellation of existing stock options of Bedrocan; (ii) an aggregate of 6,750,000 share purchase warrants (the “Replacement Warrants”) each exercisable at $1.20 until November 15, 2015 (subject to acceleration), in consideration of the cancellation of the Bedrocan Underlying Warrants; and (iii) an aggregate of 945,000 compensation options (the “Replacement Compensation Options”) each exercisable to acquire one unit of the Corporation (a “Unit”) at $0.85 until November 15, 2015 (subject to acceleration), in consideration of the cancellation of existing compensation options of Bedrocan issued in connection with the Concurrent Financing.  Each Unit consists of one Post-Consolidation Share and one-half of one Replacement Warrant (each whole such Replacement Warrant, an “Underlying Replacement Warrant”).

Immediately following the closing, there are an aggregate of 67,500,000 Post-Consolidation Shares issued and outstanding, of which (i) 64,500,000 Post-Consolidation Shares are held by former shareholders of Bedrocan (inclusive of participants in the Concurrent Financing) and 3,000,000 Post-Consolidation Shares are held by existing shareholders of the Corporation.  In addition, immediately post-closing, the Corporation has reserved for issuance (i) an aggregate of 2,300,000 Post-Consolidation Shares issuable upon the exercise of stock options of the Corporation (inclusive of the Replacement Options) exercisable at prices ranging from $0.30 to $0.85 and bearing expiry dates ranging from November 20, 2014 to December 31, 2022 (Note: The Corporation intends to seek shareholder approval at its next annual meeting of certain amendments to its stock option plan to provide that the options granted thereunder may bear a term of up to 10 years from the date of grant); (ii) an aggregate of 11,000,000 Post-Consolidation Shares issuable upon the exercise of existing share purchase warrants of Bedrocan exercisable at$0.60 until the earlier of 18 months following the completion of a going public transaction by Bedrocan and April 4, 2019 (subject to acceleration); (iii) an aggregate of 80,000 Post-Consolidation Shares issuable upon the exercise of existing broker warrants of the Corporation exercisable at $0.30 until May 14, 2015; (iv) an aggregate of 945,000 Post-Consolidation Shares issuable upon the exercise of the Replacement Compensation Options; (v) an aggregate of 472,500 Post-Consolidation Shares issuable upon the exercise of the Underlying Replacement Warrants; and (vi) an aggregate of 6,750,000 Post-Consolidation Shares issuable upon the exercise of the Replacement Warrants. As described in the Corporation’s filing statement dated August 8, 2014 available on SEDAR at www.sedar.com (the “Filing Statement”), certain of the Post-Consolidation Shares are subject to escrow requirements pursuant to applicable TSX Venture Exchange (“TSXV”) policies. In addition to the securities subject to escrow described in the Filing Statement, 305,000 Post-Consolidation Shares, representing 0.45% of the Post-Consolidation Shares, held by the spouse of a principal of the Corporation, are subject to escrow. Such escrowed shareholder held 305,000 common shares of Bedrocan, representing 0.60% of the common shares of Bedrocan, immediately prior to the completion of the Qualifying Transaction.

In addition, following the closing, the Corporation granted an additional 861,000 stock options at an exercise price of$0.85 per share to certain executive officers, directors, employees and consultants of the Corporation, as previously described in the Filing Statement.

Also in connection with the Qualifying Transaction, the existing directors and officers of the Corporation resigned and the board of directors of the Corporation was reconstituted to be comprised of Messrs. Murray Goldman, Marc Wayne, Barry Fishman, Allan Mandelzys and Roderick Budd.  In addition, Mr. Murray Goldman was appointed as Chairman, Mr. Marc Wayne was appointed as Chief Executive Officer, Mr. Michael Singer was appointed as Chief Financial Officer, Mr. Hamish Sutherland was appointed as Chief Operating Officer and Mr. Tjalling Erkelens was appointed as Chief Production Officer of the Corporation.

Listing of the Post-Consolidation Shares is expected to commence on August 25, 2014 under the symbol “BED”.

For further information, please see the Filing Statement, which is available on SEDAR at www.sedar.com.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.

All information in this press release concerning Bedrocan has been provided for inclusion herein by Bedrocan. Although the Corporation has no knowledge that would indicate that any information contained herein concerning Bedrocan is untrue or incomplete, the Corporation assumes no responsibility for the accuracy or completeness of any such information.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

SOURCE Bedrocan Cannabis Corp.

Bedrocan Cannabis Corp. – tsx.v: BED

 Bedrocan Cannabis Corp. – tsx.v: BED

source: www.bedrocan.com

Bedrocan is the most experienced, research-centered producer of pharmaceutical-grade medicinal cannabis in the world, with a mission to provide patients and healthcare professionals with safe, effective and consistent medicine for the appropriate management of diagnosed health conditions.

 

Bedrocan Experience

 

Bedrocan is the global leader in medicinal cannabis. The company’s strains of pharmaceutical cannabis have been used by more than 15,000 patients in seven countries, including Canada.

 

Bedrocan has been supplying government-regulated medicinal cannabis for 13 years, to patients with conditions including:

 

• Chronic pain
• Fibromyalgia
• Multiple sclerosis
• Arthritis
• Epilepsy
• Anxiety and depression
• Crohn’s disease
• And multiple other medical conditions

 

Proven Track Record

 

No medicinal cannabis company in Canada has more experience or participation in medical research.

 

• More than a decade of experience supplying pharmaceutical cannabis under the authority of the Dutch Ministry of Health, Welfare and Sport

• Committed to clinical research and ISO 9001-rated production processes and product development, on an international scale

• A trusted source of unbiased information regarding the safe and effective use of medical cannabis for Canadian patients and health professionals

• Global leader in medicinal cannabis research and product innovation

• Only source of legally-exported cannabis in the world

• Only company to develop placebo versions of its medicinal cannabis strains, for use in clinical studies

 

Quality, Focus and Consistency

 

• QUALITY: The most rigorous production and product quality standards in the world, meeting and exceeding government requirements in seven countries, including Canada

• FOCUS: Five strains developed to meet the therapeutic needs of patients

• CONSISTENCY: Pharmaceutically consistent product characteristics, predictability and cannabinoid content across all strains

 

ADDITIONAL BACKGROUND

 

Pharmaceutical-Grade Cannabis

 

• Bedrocan is one of only two companies currently supplying pharmaceutical-grade medicinal cannabis.

• Pharmaceutical-grade cannabis has a standardized chemical composition, and meets the accepted contaminant levels for medicines that are inhaled. Both standards go beyond the requirements of Health Canada.

• Bedrocan has over 13 years of experience producing pharmaceutical-grade cannabis. Our production is ISO 9001:2008 certified. We have a validated, standardized process of producing pharmaceutical-grade cannabis.

• Bedrocan is the only company in the world with of the ability to produce genetically distinct, pharmaceutical-grade cannabis strains, provided in bud form.

 

Benefits and Risks

 

There is now a considerable body of clinical research demonstrating the therapeutic benefits of pharmaceutical cannabis/cannabinoids in managing different health conditions. However, it is critical to note that:

 

• Medicinal cannabis is not a cure for any known disease. A growing body of research has shown it to alleviate specific symptoms of certain conditions, thereby improving patients’ quality of life and ability to function.

• As with any prescription or non-prescription medicine, and depending on how medicinal cannabis is consumed, there are risks and side effects as well as benefits. Consumers must be provided with all the facts, so they can make an informed decision together with their physician.

click here to learn more about the risks and benefits associated with medicinal cannabis

 

Risks of Non-Pharmaceutical Cannabis

 

All cannabis is not the same. Bedrocan’s products are produced according to pharmaceutical-grade – the highest quality assurance standard for cannabis. Health Canada does not require all Licensed Producers to be of pharmaceutical-grade quality.

Bedrocan’s production facilities are ISO-9001:2008 certified and the entire production procedure is described in Standard Operating Procedures. Bedrocan follows the guidelines of Good Agricultural Practice (GAP) as well as Good Production Practices (GPP). The quality and safety of the final products are guaranteed through mandatory testing by certified independent laboratories. As a result, Bedrocan products are guaranteed to be free of pesticides, agricultural chemicals, heavy metals, or bacteria or molds.

That is not the case with other sources of cannabis. Research in multiple countries has found that non-pharmaceutical cannabis commonly contains contaminants and toxins including mold, bacteria, pesticides, heavy metals and insect parts, and even harmful adulterants added to increase weight.

 

click here for a list of studies about the risks of contaminants in cannabis

 

Our Vision

 

Bedrocan strives to develop and deliver the full medical potential of the cannabis plant to those in need worldwide.

 

Our Mission

 

To be a bridge between patients’ needs for cannabis and the quality standards of modern medicine.

 

Our Core Values

 

Regulatory Compliance

 

Our business activities are supported by licenses and standardized procedures that are in full compliance with the laws and regulations at every applicable level.

 

Commitment to Science 

 

Our work is evidence-based and grounded in science. From cultivation techniques and developing new varieties, to clinical trials and studying patient preferences, advancing the scientific understanding of cannabis is the core of our work. We initiate our own research projects, pursue collaborations, and supply the tools for studies by independent scientists.

 

Sustainability

 

We are committed to social, environmental, and economic sustainability.

 

  • Social – We strive to foster a good quality of life for our employees and provide an open and accountable governance structure. Through education and engagement with the communities where we work, we promote connectedness and fairness among all stakeholders.

 

  • Environmental – We work to go above and beyond the highest environmental standards out of respect and consideration for our local and global communities. We use renewable energy sources, minimize product input, and recycle where we can.

 

  • Economic – We are focused on responsible, sustainable economic growth. Wherever possible, we strive to produce our products locally, strengthening the workforce and the bio-based economy of the region.

 

Transparent communication

 

We believe in open and respectful communication within our company and with our patients and stakeholders. All opinions have value, and we believe that dialogue and communication lead to cooperation and trust. Patients’ perspectives are important to us. In addition, people have a right to know about our work. We are always open to questions and comments, and encourage interaction with the public.

 

Quality

 

To us, quality means adhering to the highest regulatory standards for producing pharmaceutical plant products while respecting the expectations of users of our products. We breed our varieties to meet the needs of patients and healthcare professionals. We take great care in plant cultivation and processing. Our products have a consistent composition and meet Health Canada’s requirements to be free from contamination, including pesticides, mold, bacteria, and heavy metals.

 

History

 

In 2011, Bedrocan BV, a Dutch company, was invited to Ottawa by Health Canada to comment on Canada’s new regulations for medicinal cannabis, the Marijuana for Medical Purposes Regulations (MMPR). Since the Netherlands has an established medicinal cannabis framework, we came away from this meeting with a sense that Canadian producers, patients, and healthcare professionals could benefit from the knowledge and experience Bedrocan BV had developed producing medicinal cannabis in Europe. We decided to look more closely into how we could provide Canadians access to high quality standardized medicinal cannabis.  This led to our decision to work with Canadian management to establish a company in Canada to work under the newly established regulatory (MMPR) framework.

Bedrocan Canada is a joint venture between “Bedrocan BV” of the Netherlands and “Bedrocan Canada Inc”, a Canadian start-up with extensive knowledge and experience in the use of cannabis and cannabinoids in clinical practice.

Bedrocan Canada will contribute to the needs of Canadian patients by providing access to our varieties of standardized medicinal cannabis under a federally regulated environment, and by using science to address the real concerns of Canadian patients and health care practitioners.  Bedrocan is about raising the expectations of what it means for cannabis to be truly “medicinal.” In this way, we will work together to bridge the gap with science to better serve the needs of patients and meet the regulatory demands of modern medicine.

 

History in Europe

 

For over 10 years, Bedrocan BV has worked with universities, industry, government, and NGO partners in the Netherlands and around the world to conduct the genetic, botanical, chemical, and social research necessary to help cannabis meet the regulatory demands of modern medicine.

Bedrocan BV has its roots in the North of the Netherlands, an area with a long history of agricultural achievements. Founded in 1984, we first specialized in the indoor, standardized growth of vegetables and herbs. It wasn’t until the late 1990′s when we began our first experiments in growing medicinal-grade cannabis under federal license.

In 1998, the Dutch Minister of Health, Welfare and Sport noticed patients purchasing cannabis from popularly known “coffeeshops”, where recreational use has been tolerated since the 1970′s. The Minister was concerned over the lack of quality control, and believed the “bar” atmosphere did not serve the medical needs of patients. In response, she proposed an official program whereby pharmaceutical-grade cannabis could be prescribed by doctors and dispensed through pharmacies.

In 2003, after a thorough screening by Dutch authorities, Bedrocan BV was contracted by the Dutch Ministry of Health’s newly-formed Office of Medicinal Cannabis (OMC) to produce different strains for patients and researchers. Other European countries soon created similar programs and requested a regular supply of cannabis from the only source in Europe that met the required medical standards.

Today, the Dutch government remains the only source in the world for medicinal-grade cannabis that is exported for patient use in full compliance with international laws and regulations.

 

Leadership

 

Marc Wayne – Chief Executive Officer

 

Board Chairman for the Canadian Medicinal Cannabis Industry Association (CMCIA) – membership for licensed producers and applicants.  Formerly the Director of Business Development for the Canadian Consortium for the Investigation of Cannabinoids (CCIC), a leading organization of scientists and healthcare professionals established to promote evidenced based research and medical education concerning the therapeutic application of cannabis and cannabinoid-based medicines.  Previous to his work in the cannabinoid space, Marc was managing partner and founder of the OAM Computer Group, a leading Canadian integrator and founding investor and Board member of Lasoo.com a leading provider of spatial software ASP services, whose technology was purchased by Yahoo (2000-2001).

 

Michael Singer – Chief Financial Officer

 

Michael is an accomplished pharmaceutical industry executive and consultant and he currently chairs the Board of Directors of Warnex Inc. (TSX-V: WNX.H). Previously, he was Chief Financial Officer and Corporate Secretary of Thallion Pharmaceuticals Inc. from 2007 until its sale to BELLUS Health Inc. in 2013. Prior to Thallion, he served as Chief Financial Officer of Caprion Pharmaceuticals Inc. from 2000 until its merger with Ecopia BioSciences Inc. to form Thallion in 2007. Michael graduated from McGill University (1991) and is a Certified Professional Accountant – Certified General Accountant with the Ordre des CPA du Québec.

 

Tjalling Erkelens – Chief Production Officer

 

Founder and Chief Executive Officer of Bedrocan BV.  For the past 20 years, Tjalling has developed and standardized unique methods of producing cannabis to pharmaceutical standards to a level achieved by no other company in the world.

Under Tjalling’s leadership, Bedrocan has become the only company in the world whose cannabis is exported for patient use in full compliance with the Single Convention on Narcotic Drugs (1961). Bedrocan supplies cannabis to patients in Germany, Italy, Finland and Norway, and soon Switzerland and the Czech Republic, and to researchers around the world.

Tjalling is a member of the Advisory Committee on Applied Horticulture of the University of Wageningen’s Health and Plant Division, The Netherlands.

 

H. Hamish Sutherland – Chief Operating Officer

 

A hands on team builder, marketing and operations executive with experience growing start-ups across three continents.  Hamish built the Asia Pacific operations for Bid.Com (in Melbourne, Australia) as President and Managing Director of Bid.com Pty Ltd.  He established the international server operations, and sales and marketing teams in Japan, South Africa, India, Australia and Hong Kong.  Hamish has been responsible for founding the operations of 17 offshore companies entering North America for the first time, including Mincom, Vulcan Software and Whittle.  Hamish facilitated $100 million of direct investment and acquisitions between Australian and Canadian companies.  He was a founding limited partner and Board Member for the Upper Canada Brewing Company.

Hamish is a Professional Engineer in Ontario and is the active Chair of the Little Geeks Foundation.

 

Dr. Arno Hazecamp – Advisor, R&D and Education

 

Dr. Arno Hazekamp is the Head of Research and Education of Bedrocan BV, the only licensed producer of pharmaceutical-quality cannabis for the Dutch Health Ministry. He is the author of numerous scientific papers on cannabis chemistry, delivery mechanisms, quality control and patient surveys. As an international authority on biochemical cannabis research, he is considered one of the foremost researchers in the field.

Dr. Hazekamp was actively involved in creating quality standards used by the Dutch Government, and was a co-founder of the non-governmental organization (NGO) NCSM, intended to inform physicians and patients of the proper use of cannabis in clinical practice.  Member of the Board of International Association for Cannabis as Medicine (IACM) since 2009.

In 2007, Arno started a phytochemical contract laboratory, making a wide range of highly pure cannabinoid standards commercially available to researchers worldwide. He was also involved in the early phase of Echo Pharmaceuticals, a Dutch pharmaceutical company developing a sublingual administration form of THC and other cannabinoids.

 

Barry Fishman – Board Advisor

 

Barry is a recognized health care leader and driver of profitable growth, through strategic leadership, operational effectiveness, team development and financial management.

Up to the end of 2013, Barry was President & CEO of Teva Canada, where during his tenure, increased operating profit and market share by over 70%. Teva Canada is a leading pharmaceutical company with up to $1B in revenue and almost 2000 employees.

As CEO of Taro Canada, a small specialty pharmaceutical company, Barry tripled sales, strengthened talent, improved profitability and entered new untapped markets.  Prior to Taro, Barry spent 17 years with Eli Lilly Canada where he advanced through several cross-functional leadership roles, including Vice President of Marketing.

Barry is married to Lynda, an author and inspirational speaker, and sits on several for profit and non-profit Boards.

 

For more information, visit www.bedrocan.com.

Abattis Announces Grant Of Stock Options

Vancouver, BC – August 13, 2014 – Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), the Company is pleased to announce that, in compliance with the Company’s option plan, the Company has granted 455,000 incentive stock options to certain of its directors, officers and consultants, with each option being exercisable into a common share of Abattis at $0.43 per share for a period of five years.

About Abattis Bioceuticals Corp.

Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its mass cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere 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
“Mike Withrow”
Michael Withrow, President & CEO

For further information, contact the Company’s CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

Abattis’ Appoints Jason Anderson as VP of Finance

Vancouver, BC – August 8, 2014 – Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing, and marketing proprietary ingredients, bio-similar compounds, patented equipment, and consulting services to medicinal markets in North American, today announced the appointment of Jason Anderson, CA, CFA as Vice President of Finance.

“With over 20 years of experience in corporate finance, including 15 years experience on Wall Street and in international markets, Mr. Anderson will be an integral part of our corporate finance team as we continue to build momentum and pursue new opportunities,” said Abattis Bioceuticals Corp. CEO Mike Withrow.

Mr. Anderson graduated from Stanford University with a B.A. in International Relations in 1988, was awarded the Chartered Financial Analyst (“CFA”) Charter in 1995, received a Diploma in Accounting at the University of British Columbia in 2010, and was awarded the designation of Charter Public Accountant (“CPA”) in 2013. Throughout his career, Mr. Anderson worked in both research and accounting positions with major companies like KPMG LLP and through his own practice.

Further, in compliance with the Company’s option plan, the Company has granted 605,000 incentive stock options to certain of its directors and consultants, with each option being exercisable into a common share of Abattis at $0.48 per share for a period of five years.

About Abattis Bioceuticals Corp.

Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The Company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions, by supplying and partnering with companies to employ its mass cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere 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

“Mike Withrow”

Michael Withrow, President & CEO

For further information, contact the Company’s CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

 

Abattis Enters Into Us$5 Million Standby Equity Purchase Agreement With Kodiak Capital Group, LLC

Vancouver, BC — August 5, 2014 – Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTCQX: ATTBF) (CSE: ATT), a specialty biotechnology company focused on cultivating, licensing, and marketing proprietary ingredients, bio-similar compounds, equipment, and consulting services to North American medicinal markets, including medical marihuana, announced that it has entered into a US$5 million standby equity financing agreement with Kodiak Capital Group, LLC, a Newport Beach, CA-based institutional investor. The Company has agreed to file a registration statement with the U.S. Securities & Exchange Commission (“SEC”) covering the Abattis shares that may be issued to Kodiak under this financing. After the SEC has declared the registration statement related to the transaction effective, the Company has the right at its sole discretion over a period of one year to sell up to US$5 million of common shares to Kodiak.

The Company has agreed to pay Kodiak a 5% commitment fee in shares. Of these shares, 277,373 shares shall be held in escrow in accordance with an escrow agreement. The company plans to access and use these funds in the event of an acquisition opportunity and for expansion in the US.

“We’re very excited to be partners with Kodiak and welcome their knowledge and investment with great prospects to capitalize on acquisition opportunities as they arise. We now have additional financial security to add value to the company on an as needed basis. We felt this type of financing was a good way to go as it defers dilution.” commented Michael Withrow, Chief Executive Officer, of Abattis. He went on to say, “Kodiak recognizes that our business model offers best practices for the pharmaceutical, nutraceutical and wellness industries and our GDERS (grow, dry, extract, refine, sell) strategy spanning the entire industry supply chain from Sciences to Sales(tm) meets and exceeds industry standards for consistent quality, safety, and efficacy.”

Ben Esque, a member of Kodiak’s advisory board, said, “We look forward to assisting Abattis with their expansion throughout North America and making them a part of our sprouting portfolio of cannabis-related businesses.”

The securities referenced above may not be sold and offers to buy these securities may not be accepted prior to the time that the registration statement relating to the offering of such securities becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Abattis Bioceuticals Corp.

Abattis Bioceuticals Corp. aims to become a leader in the growing, testing, and distribution of medical and adult-use cannabis in North America. Through its network of subsidiaries and partners, the Company has developed an innovative GDERS (grow, dry, extract, refine, sell) strategy spanning the entire industry supply chain from seed to sale. These subsidiaries and partners specialize in cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment, and consulting services across the continent. The Company follows strict standard operating protocols and adheres to both U.S. and Canadian laws pertaining to the cultivation, testing, and sale of cannabis. Where Timeless Traditions Meet Reliable Science(tm). For more information, visit www.abattis.com.

About Kodiak Capital Group, LLC

Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak makes private investments in public and private entities utilizing proprietary equity and debt instruments. These investments provide long-term strategic capital offering companies certainty, flexibility and consistency. Kodiak’s investments are in a wide range of industries emphasizing alternative energy, consumer products, life sciences, natural resources, and social media technology. For more information, visit www.kodiakfunds.com.

ON BEHALF OF THE BOARD

“Mike Withrow”
Michael Withrow, President & CEO

For further information, contact the Company’s CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION

This press release contains “forward-looking statements” which are not purely historical. Such forward-looking statements include, among other things, the expectations of management that we will be successful in cultivating, licensing, and marketing proprietary ingredients, bio-similar compounds, patented equipment, and selling our consulting services across the continent; that the Company will successfully register shares and be able to sell them to Kodiak. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including, among others, that we may not be able to clear a registration statement, or that even if we clear the registration statement, we may decide not to sell shares to Kodiak at the price contracted; the potential failure of our business to develop as anticipated;, our ability to retain key employees; our ability to finance the development of our business; public controversy over our business as some of our services and product candidates involve controlled substances; and competitors may develop better or cheaper alternatives to our products or services. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Investors should refer to the risk factors disclosure discussed in our Management Discussion & Analysis reports filed from time-to-time on www.sedar.com.

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