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Abattis Bioceuticals Acquires Proprietary Genetic Strain Bank
Abattis Bioceuticals Acquires Proprietary Genetic Strain Bank.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\nVANCOUVER, British Columbia, Nov. 23, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp (the “Company” or “Abattis”) (CSE:ATT) (OTC:ATTBF) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) to acquire 100% of Select Strains Inc. (“Select Strains”). Select Strains has almost two decades of experience within the cannabis space, specifically within the fields of cannabis testing, research, cultivation and optimization of proprietary seeds and strains.\n With a portfolio of over 140 laboratory-tested craft cannabis strains, Select Strains will allow for the continued differentiation of the Abattis brand, leveraging unique craft strains in an increasingly generic, highly competitive and standardised cannabis market. Select Strains’ seed and strain inventory has been carefully curated and assembled over the past two decades by a team of experienced geneticists and breeders, maintaining and solidifying quality products that have been rigorously tested to suit end user needs.  The acquisition of Select Strains further augments Abattis’ robust portfolio of vertically integrated cannabis assets, as well as aids in the positioning of the Company to capitalize on Canada’s legal recreational cannabis marketplace in the near future. Under the terms of the Agreement, Select Strains will transfer the ownership of its proprietary strain portfolio, seed inventory and clone catalogue to Abattis in exchange for 41,666,666 common shares of the Company. In addition, a finder’s fee is payable as part of the acquisition. With the addition of Select Strains, Abattis will furthermore have access to the vast collection of genetics and top ranked strains from around the world. Abattis plans to deploy Select Strains’ premium genetic strains and seed bank capabilities to its cannabis operations in Canada. This acquisition will give Abattis the ability to provide highly coveted cannabis flower through it’s late-stage ACMPR Licensed Producer (“LP”), Gabriola Green Farms (“Gabriola”), which is set to receive its LP in early-to-mid 2019. As a part of the vertical integration that Abattis has created since the Company’s inception over 10 years ago, Select Strains will be a crucial part of building out Gabr...