Business
Abattis Announces Strategic Investment into Northern Vine and Partnership with Emerald Health Therapeutics
Abattis Announces Strategic Investment into Northern Vine and Partnership with Emerald Health Therapeutics.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n\n VANCOUVER, British Columbia, Oct. 26, 2017 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the \"Company\" or \"Abattis\") (CSE:ATT) (OTC:ATTBF) is pleased to announce it has signed a definitive agreement with Emerald Health Therapeutics Inc. (“Emerald” or “Emerald Health”) (TSXV:EMH) involving the wholly-owned Abattis laboratory subsidiary, Northern Vine Canada Inc. (“Northern Vine”).\n “This is an important turning point for Abattis,” said Robert Abenante, President and CEO of Abattis and Northern Vine.  “The Company has always desired a strategic partner for its laboratory and has now partnered with one of the most experienced LP's in Canada.  As we commence rolling out our business model for extraction, attracting a partner like Emerald is proof that we have an extremely talented team and a potentially disruptive extraction technology.” Abattis and Emerald will endeavor to grow Northern Vine into a thriving center for analytical testing, genetic research and development, tissue culture, and proprietary medicinal and therapeutic formulations.  The Langley facility will continue to operate as a testing and analysis laboratory to serve the growing number of LP’s coming into the market.  Emerald brings a wealth of industry knowledge and experience, which will assist in rapidly growing the Northern Vine’s business. The Agreement allows Emerald to use Northern Vine as its primary testing facility. “As a partner, Emerald Health brings our Company important access to capital, a wealth of expertise, and an association with what is becoming one of the largest cultivators in Canada,” added Mr. Abenante. Under the terms of the agreement, Emerald Health becomes the majority shareholder in Northern Vine.  In acquiring this majority interest, Emerald Health adds to its integrated portfolio that includes its recent joint venture with Village Farms International to retrofit a 1.1 million square foot, high-quality, low-cost production facility in Delta, BC to grow cannabis. Upon completion of full licensing and greenhouse conversion, the facility is expected to yield more than 75,000 kg of product annually. \"We see tremendous synergies and opportunities to work with Abattis both on extraction and research and development of medic...