VANCOUVER, March 5, 2013 /PRNewswire/ - Abattis Bioceuticals
Corp. (the "Company" or "Abattis") (OTC PINK: ATTBF) (CNSX: FLU),
announces it has signed a Letter Of Intent for a multimillion
dollar supply agreement with Cromogen Biotechnologies to purchase
Cannabidiol or "CBD's" for the use of creating infused products to
be sold in the US Natural Health Product Market(s). Under the
terms of the agreement the CBD's being supplied to Abattis are not
listed as Scheduled 1 Drugs. Cannabinoids are a group of
21-carbon-containing terpenophenolic compounds produced uniquely by
Cannabis sativa and Cannabis indica species. These plant-derived
compounds may be referred to as phytocannabinoids. Although
delta-9-tetrahydrocannabinol (THC) is the primary psychoactive
ingredient, other known compounds with biologic activity are
cannabinol, cannabidiol (CBD), cannabichromene, cannabigerol,
tetrahydrocannabivarin, and delta-8-THC. Cannabidiol, in
particular, is thought to have significant analgesic and
anti-inflammatory activity without the psychoactive effect (high)
of delta-9-THC. Source National Cancer Institute at NIH.
Mr. Mike Withrow, Chief Executive
Officer on behalf of the Company, stated, "we are very excited to
become the first company to work with a specialty raw source CBD
producer like Cromogen, focusing on the emerging US "CBD" infused
products market. We see this as a very high growth opportunity that
enables Abattis to market the highest level CBD infused
quality products with food safety certification." Mr. Withrow went
on to say, "Cromogen's unparalleled capacity to supply CBD's will
expedite our entry into the US market, starting operations in
Colorado and distributing to all
US states as the market permits. The multimillion dollar
supply agreement in the works, will position Abattis to take the
lead in providing the healing properties of CBD to consumers."
Michael Brubeck, Chief Executive
Officer of Cromogen, stated, "We are enthusiastic to begin
utilizing the plant physiology breakthroughs that our company is
developing at this time. In leveraging Cromogen, Abattis has a
significant cost advantage in the CDB market. They are now
positioned to lead the spectrum of nutritional supplements in
Cannabidiol, Cannabigerol, Cannabidivarin, and Cannabichromene.
Cromogen's ability to supply high volumes of CBD provides
Abattis with a green field of opportunities in this high growth
market.
About Abattis Bioceuticals Corp.
Abattis Bioceuticals Corp. is a specialty biotechnology company
with capabilities through its wholly owned subsidiaries of
producing, licensing and marketing proprietary ingredients and
products containing standardized phytochemicals for sale in
Pharmaceutical, Nutraceutical, Cosmetic and Animal Nutrition
markets. The company also has a deep pipeline of proprietary
products ready for sale in high growth areas of Functional Foods
and Supplements business. For more information, visit the Company's
website at www.abattis.com
About Cromogen Biotechnologies.
Cromogen is a licensed pharmaceutical company and raw cannabidiol
(CBD) manufacturer, delivering market shifting products from
centers across Latin America into
USA, Canada, and EU markets. As one of the first
companies on the cusp of a CBD market disruption, the business
combines leading plant physiology experts with the pharmaceutical
industry's best product development scientists. Cromogen's research
team is achieving a global first by conducting stage 3 clinical
trials for severe nausea caused by cytotoxic antineoplastic
therapies.
"Quietly changing the hemp and cannabis industry through health
and medicines"
For more information, visit the Company's website at:
http://www.cromogenbiotechnology.com
ON BEHALF OF THE BOARD
"Michael Withrow"
Michael Withrow, President &
CEO
Neither the CNSX Exchange nor its regulations
services accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Abattis Bioceuticals Corp.
