Abattis Comments on Recent Market Activity
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2018) - Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB: ATTBF) (the "Company" or "Abattis"), wishes to make the following statements regarding certain market activity surrounding the Company's common shares (the "Common Shares").
On February 27, 2018, the Company was notified by the OTC Markets about certain promotional activities in relation to the Common Shares, including certain newsletter emails. The Company engaged Awareness Marketing LLC on February 16, 2018, to provide advertising services. Abattis, from time to time, engages third party advertisement entities to increase awareness of the Company, its public status and the business initiatives and corporate developments of the Company. The Company understands that with competent and rigorous management, an involved board of directors to provide checks and balances, an active business plan and achievement of corporate milestones, advertising initiatives can increase its exposure to the capital markets. The Company had no editorial control over the content in the advertising material and is unaware of the full nature of the advertising activity or the responsible parties.
The Common Shares were listed on the OTCQB on December 23, 2010. Since listing on the OTCQB, trading volumes have been minimal, as the Company's primary listing is in Canada on the Canadian Securities Exchange. Volumes have fluctuated, depending on the state of the capital markets and the Company's business activities. Since October 2016, trading volumes on the OTCQB have steadily increased, with peak volumes in the spring and fall of 2017 and again in February 2018. The Company attributes the majority of its recent increases in trading volumes to the contents of its news releases dated February 1, 8, 13, 19 and 27, 2018 and to the continued positive advancement of the Company's business.
After inquiry, the Company confirms that its officers, directors or its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have not, directly or indirectly, authorized or been involved in any way with the creation or distribution of advertising materials but from what has been disseminated, the information appears to be accurate. This information was likely derived from the Company's website, news rereleases, corporate filings and presentations.
In the ordinary course of its business, many of the Company's officers, employees and consultants are paid a portion of their salaries or fees in Common Shares and it is assumed that a portion of such shares are subsequently sold into the market. With the exception of Dr. Shuang Xie, a former director of the Company, William Panenka, a director of the Company, Peter Gordon, a director of the Company, Rene David, a director of the Company, and James Irving, a director of the Company, no officer, director or, to the knowledge of the Company, controlling shareholder, has sold or purchased shares of the Company within the last 90 days. Dr. Xie and Messrs. Panenka, Gordon, David and Irving have reported their transactions in Common Shares on the System for Electronic Disclosure by Insiders (SEDI) at www.sedi.ca in compliance with insider reporting requirements under applicable securities laws. All directors and officers of the Company are required to report their purchase and sales of Company securities on SEDI and such filings are fully up to date in this regard. Please see www.sedi.ca for further information.
Since January 1, 2017, the Company has engaged the following providers of investor relations, public relations, advertising and other related services, including the advertising of the Company and its securities: Awareness Marketing LLC, and Castle Rising Consulting Corp.
In the ordinary course of its business and financing activities, the Company issues Common Shares and securities convertible into Common Shares at prices constituting a discount to the current market rate. Information respecting such issuances can be found in the Company's consolidated financial statements and the notes thereto and the Company's management's discussion and analysis filed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
The statements regarding the Company that were made in the advertising materials were not materially false and/or misleading.
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. For more information, visit the Company's website at: www.abattis.com.
ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,
"Rob Abenante"
Robert Abenante, President & CEO
For more information, please visit the Company's website at: www.abattis.com or www.northernvinelabs.com.
For inquiries, please contact the Company at (604) 674-8232 or at news@abattis.com.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
