Abattis Announces Closing of $2.4M Financing and Option Grant - KNOE 8 News; KNOE-TV; KNOE.com |

Abattis Announces Closing of $2.4M Financing and Option Grant

Posted: Updated:

Vancouver, BC / ACCESSWIRE / March 19, 2014 / Abattis Bioceuticals Corp. (the Company or “Abattis) (OTC PINK: ATTBF) (CSE: ATT), is pleased to announce that further to its news release of March 4, 2014, it has now closed a non-brokered private placement of 5,333,333 units for gross proceeds of $2.4M.

The Company has also granted incentive stock options to a consultant to purchase up to 250,000 common shares of the Company. The options are exercisable on or before March 19, 2019 at an exercise price of $2.26 per share.

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 vertical 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 Law‘s of Canada and Foreign Jurisdictions. For more information, visit the Company‘s website at www.abattis.com.

ON BEHALF OF THE BOARD

Mike Withrow

President & CEO

For further information, contact the Company‘s CEO, Michael Withrow at (778) 896-

6536 or at mike.withrow@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 Companys Managements Discussion and Analysis for the nine months ended June 30, 2013 and filed on August 29, 2013 and for the year ended September 30, 2012 and filed on January 28, 2013 under the Companys profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

ReleaseID: 413258

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.