Abattis
(OTCQB: ATTBF) (CSE: ATT): Legislation To Legalize #Marijuana In Canada Is
Being Announced Next Month
Vancouver, British Columbia - March
27, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Abattis Bioceuticals
Corp. (OTCQB: ATTBF) (CSE: ATT) (the "Company" or
"Abattis"), and its subsidiary, Northern Vine Labs is anticipating
the Liberal government's upcoming announcement, next month (the week of April
10th), on legislation that will legalize recreational marijuana use across
Canada by July 1, 2018.
As reported by the CBC, Trudeau's
government will follow the recommendations of a federally appointed task force,
led by former liberal Justice Minister Anne McLellan, and in doing so, will
look to deliver on their controversial campaign promise of introducing
legislation by the Spring of 2017.
The report outlines the federal
government will be in charge of making sure the country's marijuana supply is
safe and secure, with Ottawa responsible for handing out licenses to producers.
A key factor in this discussion is that provinces will have the right to decide
how the marijuana is distributed, sold and at what price. While Ottawa has set
a minimum age limit of 18 to buy marijuana, the provinces will have the option
of setting a higher age limit, if they wish.
This report further confirms the
unique position and macro-timing in which Abattis and its subsidiary, Northern
Vine Labs, a Health Canada Dealers Licensed cannabis testing laboratory, will
have the privilege to operate in. Last week, High Times magazine published this
report, stating that Lab Testing will represent the Next Billion Dollar Market
opportunity within the Marijuana industry. Following a string of pesticide and
contamination scandals and leading to numerous pending class action lawsuits,
industry analysts believe there will be increased demand for accurate and
reliable cannabis testing to ensure product cleanliness and safety.
To combat this problem, Health Canada
recently announced random testing on the 39 licensed producers in Canada. In
addition, the board of the Cannabis Canada Association voted unanimously on
March 9th, 2017, to implement mandatory product testing among all its members.
The association, which represents Aurora and 14 other Health Canada-licensed
producers of medical marijuana, recommended that testing should screen for
contaminants including bacteria, heavy metals and unapproved pesticides. It
also called for those test results to be made public, for consumers to see.
Northern Vine Labs is set to open its
doors for product testing next month (April 2017) and looks forward to
contributing to the safety of Canada's budding, and soon to be legal, marijuana
industry. Management will continue to provide updates in the weeks leading up
to this event.
About Abattis
Bioceuticals Corp.
Abattis is a specialty agricultural
technology and biotechnology company which aggregates, integrates, and invests
in agricultural 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. For more information, visit the Company's website at: www.abattis.com.
About Northern Vine
Canada Inc.
Northern Vine Labs™ is licensed by
Health Canada 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.
ON BEHALF OF THE BOARD
"Rene David"
Rene David, CFO, Director
Rene David, CFO, Director
For further information, contact the
Company at (604) 336-0881 or at news@abattis.com.
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. NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
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