Business
Abattis Bioceuticals Expanding Downstream Cannabis Business into Ontario -- CFN Media
Abattis Bioceuticals Expanding Downstream Cannabis Business into Ontario -- CFN Media.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\nSEATTLE, July 24, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Abattis Bioceuticals Corp.'s (CSE:ATT) (OTCQB:ATTBF) recent agreement to develop a new laboratory in Ontario, representing a major expansion into Canada’s most populous province. Abattis has been solidifying and growing its vertically integrated cannabis operations in British Columbia for the last few years. With a licensed producer applicant, cannabis-based product development programs, and a mature product distribution network, Abattis is positioned to control and profit from the highest growth sectors of Canada’s cannabis industry.\n The Importance of Heading East Abattis has national aspirations, certainly for its own lines of cannabis-related products but also for its lab services. Laboratories holding dealers licenses offer a host of important services, including: R&D, formulation, and manufacturing of cannabis products; extraction of cannabis oils; and testing and analytics for licensed producers. Having a lab in Ontario greatly expands the company’s reach. Ontario is home to almost 40% of Canada’s people, and a staggering 60 out of the 112 total licensed producers currently approved in the country. When combined with BC’s 24 current licenses, Abattis will be offering critical lab services (contingent on completion and licensing of the Ontario operation) in provinces with 75% of the nation’s licensed producers and about 50% of the total population. The lab will be located in Belleville, between Toronto and Ottawa, in a 320,000 square foot building judged to be suitable for a medical cannabis research laboratory by an outside consultant. The plan is to build the initial 10,000 sf operation in the building and expand as needed. The joint venture, with XLABS Therapeutics (ONT) Inc. (XLABS), is intended to create an extraction, purification, formulation, and production giant in the heart of Canada’s population and LP center. Abattis recently completed the sale of its remaining interest in Northern Vine Labs, the small operation in British Columbia. Northern Vine was an excellent pilot lab for Abattis and a useful launching point for...