VANCOUVER, BC / ACCESSWIRE / August 10, 2016 / Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) (the "Company" or "Abattis"), is pleased to announce that it has entered into an exclusive distribution agreement with the Jiangsu Regent Granary Trading Co., Ltd. ("Jaingsu"). Jaingsu is one of a select few that is exporting Canadian beef to China. They also export granola, dried fruit and will also include Abattis' line of Phytnos Superfruit tonics and VitaGum in mainland China. Jaingsu will utilize its network and sales experience to cultivate a market for Abattis' offerings. Jaingsu has certain sales revenue targets under the agreement; failure to achieve such targets will allow Abattis to terminate such agreement.
The key benefit is mainly access to our own distribution personnel in China. The market is vast and demand is very high for North American health products and technology that Abattis can offer.
The Company also announces that Michael Yung the Chief Executive Officer of Abattis has resigned. Mr. Yung will be replaced by Mr. Rene David on an interim basis while the board of directors appoints a new CEO.
These are exciting times for Abattis and the state of the Medical Cannabis industry and we wish to thank Mr. Yung for assisting with our most recent sales and marketing effort into Asia where we have made great progress from our recent trips to Shanghai and Korea. We wish Mr. Yung the best of luck with his new project.
About Abattis Bioceuticals Corp.
Abattis is a specialty biotechnology company that aggregates, incubates, integrates, and invests in the botanical drug development industry. The Company develops and licenses natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets - some of which will contain cannabinoid compounds. 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
"Rene David"
Rene David, CFO/COO and interim CEO
For further information, contact the Company at (604) 336-0881 or at news@abattis.com.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY 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.
SOURCE: Abattis Bioceuticals Corp.
ReleaseID: 443567
