Business
Abattis Announces Successful Completion of Acquisition of Green Tree Therapeutics
Abattis Announces Successful Completion of Acquisition of Green Tree Therapeutics.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n\n VANCOUVER, British Columbia, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the \"Company\" or \"Abattis\") (CSE: ATT) (OTC: ATTBF) is pleased to announce that, further to its news releases dated December 22, 2017 and January 11, 2018, it has completed its acquisition (the “Acquisition”) of Green Tree Therapeutics (“Green Tree”). As a result of the Acquisition, Green Tree is now a wholly-owned subsidiary of Abattis and Green Tree’s products will become available through Abattis’s wholly-owned subsidiary Vergence Naturals Ltd.\n “The closing of our acquisition of Green Tree represents a significant milestone for Abattis,” stated Rob Abenante, President and CEO of Abattis.  “We have now expanded our retail presence and established a solid entry point into the vaporizers market. In connection with the Acquisition, we look to merge our complementary businesses to expand our product lines and customer base.” The Company has recently announced an agreement to partner with ABLE BC and earlier this week announced an agreement with Faculty Brewing Co., an ABLE BC member, to create a hemp-infused, cannabinoid-rich, THC-free craft beer.  The acquisition of Green Tree continues to expand Abattis’ growing portfolio of products and services and is positioning the Company to take advantage of the expected legalization of recreational marijuana this summer. “By merging Green Tree’s sales, marketing and already-existing vaporizers business with Abattis’s technological advances in extracts and lab facilities, we hope to create a new line of cannabis consumption that will capture the upcoming recreational market,” continued Mr. Abenante. “Sales of vaporizers have increased significantly in comparison to traditional methods of cannabis consumption and by merging Green Tree’s vaporizer products with Abattis’s existing products and growing pipeline, we look to create a line that will match consumer habits and trends, setting ourselves apart from existing competition with our knowledge, facilities, and sales channels.” In connection with the Acquisition, the Company issued an aggregate of 15,000,000 common shares of the Company (each, a “Share”) to the former shareholders of Green Tree. In addition...