Business
Abattis Announces Completion of Investment by Emerald Health Therapeutics in Northern Vine
Abattis Announces Completion of Investment by Emerald Health Therapeutics in Northern Vine.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n\n VANCOUVER, British Columbia, Nov. 21, 2017 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the \"Company\" or \"Abattis\") (CSE:ATT) (OTC:ATTBF) is pleased to announce the closing of its previously announced agreement with Emerald Health Therapeutics Inc. (“Emerald”) (TSXV:EMH) pursuant to which Emerald has invested $2.5 million into Northern Vine Canada Inc. (“Northern Vine”) in exchange for a 53% equity stake in Northern Vine.\n Northern Vine has now received the $2.5 million investment.  Abattis remains a 47% equity stakeholder in Northern Vine, and gains several potential benefits from the transaction with Emerald. Northern Vine’s LD status permits the exporting and importing of cannabis and cannabis oils while Emerald’s LP status permits the sales and import/export of cannabis. “It has been a pleasure working with Emerald’s team and we’re very excited to officially begin our partnership together,” said Rob Abenante, President and CEO of Abattis and Northern Vine. “Abattis is now partnered with one of the most experienced LPs in Canada. Together we are exposed to a new business and market opportunity which includes: ample supply of cannabis, analytical testing, formulation, genetic research and development and tissue culturing,” added Mr. Abenante. Together, the partnered companies are focused on high-quality product innovation, giving particular regard to wellness and medical benefits, that they believe can set their products apart from many licensed producers in the space that are focused on scale. \"Our investment into Northern Vine and partnership with Abattis will set the wheels in motion on a number of strategic business opportunities that we have been nurturing,\" said Avtar Dhillon, MD, Executive Chairman of Emerald. Northern Vine Update Abattis is also pleased to announce that Health Canada has officially renewed Northern Vine’s federal dealer license to conduct activities with cannabis.  Northern Vine’s laboratory, located in Langley, British Columbia, continues to play a strong role within Abattis’s full downstream service plan to test, analyze, formulate, provide regulatory expertise, and assist in branding and selling downstream products from cannabis cultivators. About Abattis Bioceuticals Corp. Abattis is a...