VANCOUVER, British Columbia based Abattis Bioceuticals Corp. (CSE: ATT) (OTC: ATTBF) announced it has entered into a non-binding letter of intent with Canadian Artesian Ice Ltd. to provide Canadian Artesian with, among other things, THC- and pesticide-free cannabidiol ("CBD") isolate, research and development services, nanoencapsulation and nanoemulsification services, analytical and regulatory services and access to Abattis's distribution and marketing channels to support the development, scalability and commercialization of a CBD-infused water for Canadian Artesian. Canadian Artesian is a bottler of Premium artesian 7.8 pH mineral water, based in Nelson, British Columbia, and is the bottler of Clearly Canadian Artesian mineral water. Pursuant to the LOI, Abattis and Canadian Artesian have agreed to negotiate in good faith the terms of a definitive research services agreement respecting the terms of their partnership.
"We are very excited about our new partnership with Canadian Artesian." stated Rob Abenante, President and CEO of Abattis. "The bottled water market is expected to be approximately $280 billion by 2020* and we believe point of origin will be the key differentiator among big players. In light of recent research indicating that more than 60% of North American bottled water comes from municipal water sources, Canadian Artesian's access to premium mineral well water positions it to produce a world-class line of CBD-infused mineral waters."
"Through our partnership with Canadian Artesian, we continue to fully integrate our complete suite of downstream solutions for the cannabis and hemp markets. Navigating current and future regulatory and compliance frameworks, from analytical testing to compliance with Health Canada regulations, is becoming increasingly complex. As with our other partners, we are offering Canadian Artesian a one-stop solution to support their expansion plans into CBD-infused finished products", added Mr. Abenante.
"We source our Premium artesian 7.8 pH mineral water from a 600-foot deep reservoir in Nelson, British Columbia. According to tests performed by the University of British Columbia, our mineral water has a similar chemical profile to mineral water from Fiji. We believe our partnership with Abattis will allow us to create a whole new category of premium functional mineral water", stated F. Boekel, Director of Canadian Artesian.
"The market for bottled mineral water is expected to maintain solid growth over the next five years. The combination of Canadian Artesian's premium point-of-origin water and our pesticide-, THC-free high purity CBD could set a new standard for premium pure and flavoured CBD-infused mineral waters," added Dr. David Galvez, Senior Science Advisor at Abattis.
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: http://www.abattis.com
* Source: Zion Market Research.
ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,
Robert Abenante, President & CEO
For more information, please visit the Company's website at: http://www.abattis.com
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "intends", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: Abattis' plans to provide THC- and pesticide-free CBD isolate, research and development services, nanoencapsulation and nanoemulsification services, analytical and regulatory services and access to its distribution and marketing channels to support the development, scalability and commercialization of a CBD-infused water for Canadian Artesian; the negotiation of a potential definitive research services agreement with Canadian Artesian; Canadian Artesian's access to premium mineral well water positioning it to produce a world-class line of CBD-infused mineral waters; the expected benefits to both Abattis and Canadian Artesian of the parties' partnership; that the partnership with Abattis will allow them to create a whole new category of premium functional mineral water; the expected growth of the market for bottled mineral water; and the combination of premium point-of-origin water and Abattis's pesticide-, THC-free high purity CBD potentially setting a new standard for premium pure and flavoured CBD-infused mineral waters. 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, including: that Abattis will not provide THC- and pesticide-free CBD isolate, research and development services, nanoencapsulation and nanoemulsification services, analytical and regulatory services or access to its distribution and marketing channels to support the development, scalability and commercialization of a CBD-infused water for Canadian Artesian; that a definitive research services agreement with Canadian Artesian will not be successfully negotiated or executed; that Canadian Artesian's access to premium mineral well water will not position it to produce a world-class line of CBD-infused mineral waters; that the partnership between Abattis and Canadian Artesian will not benefit either party as expected or at all; that Canadian Artesian's partnership with Abattis will allow them to create a whole new category of premium functional mineral water; that the market for bottled mineral water will not grow as expected or at all; that the combination of premium point-of-origin water and Abattis's pesticide-, THC-free high purity CBD will not set a new standard for premium pure and flavoured CBD-infused mineral waters; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company's competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on http://www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For inquiries, please contact the Company at +1(604)674-8232 or at email@example.com
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