Abattis Closes on the Acquisition of Green Grow and Natures Juice Formulasadmin
VANCOUVER, BC / ACCESSWIRE / March 12, 2014 / Abattis Bioceuticals Corp. (“Abattis” or the “Company”) (CSE: ATT) (OTC: ATTBF), is pleased to announce that further to its news on February 27th 2014 the company has closed on the agreement with the beneficial shareholder of Green-Gro Garden Products Ltd. (“Green-Gro”) whereby the Company, through its wholly owned subsidiary, Biocube Green Grow Systems Corp., has acquired all of the organic and hydroponic fertilizer and nutritional formulas owned by Green-Gro in consideration for 300,000 common shares of Abattis.
Green-Gro’s formulas were developed using nearly 3 decades of expertise and 5 years of experimentation. Green-Gro’s hydroponic fertilizers are unique in that they address the exact nutritional requirements of many specialty crops. The N, P, K, Ca, Mg and micronutrient ratios in the fertilizers have been developed to provide growers with an exact formulation needed to maintain strong developing, vegetative and flowering fruiting stages. The theory behind the design of these fertilizers is that feeding proper nutrients to younger plants will lead to healthier, higher yielding crops.
The Green-Gro product formulations that will be acquired by the Company include: Green Gro, Micro Classic, Bloom Classic, Grow Plus, Micro Plus, Bloom Plus, Blossom Plus, Veg Plus, Oxy-Plus, Roots Plus, Green Nitro, Crystal Plus, Budzilla, Triple “A”, GG Plus and PH Up and PH Down. Green Gro also owns, and the Company will also be acquiring, Natures Juice(TM) products. Natures Juice(TM) is a revolutionary organic formula developed for the hydroponic industry it utilizes a unique one part formula for feeding plants during the vegetative and flowering cycles only during the flowering cycle are additives used to enhance the formation of large buds which are a line of organic fertilizers that are well-known in the growing business.
Mr. Mike Withrow, Chief Executive Officer of the Company, stated, “We are pleased to take ownership of these proven formulations. They add to the depth off the offering Biocube Green Grow Systems Corp. has.” Mr. Withrow went on to state, “We will start the production and marketing of the products in BC and Washington. This enables the company to build a customer base that will purchase other products produced by the Abattis group of companies thereby reducing marketing costs related to customer acquisition.”
A finder’s fee of 15,000 common shares of the Company will be paid.
The company also wishes to announce that it has sent its newly designed Biocube drawings to China to have its first order produced.
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
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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 filed under the Company’s profile on http://www.sedar.com/. While the Company may elect to, it does not undertake to update this information at any particular time.
Posted: March 12th, 2014 under ACCESSWIRE.