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Abattis Enters Into Definitive Agreement to Acquire Gabriola Green Farms
Abattis Enters Into Definitive Agreement to Acquire Gabriola Green Farms.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n\n\n\nAbattis Enters Into Definitive Agreement to Acquire Gabriola Green Farms\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAbattis Enters Into Definitive Agreement to Acquire Gabriola Green Farms\nCanada NewsWire\nVANCOUVER, Feb. 27, 2018\n\n\n\nVANCOUVER, Feb. 27, 2018 /CNW/ - Abattis Bioceuticals Corp. (the \"Company\" or \"Abattis\") (CSE: ATT) (CSE: ATT.CN) (OTC: ATTBF) is pleased to announce that it has entered into a definitive agreement (the \"Definitive Agreement\") to acquire (the \"Acquisition\") a 90% ownership interest in Gabriola Green Farms Inc. (\"Gabriola\").\n\nGabriola is a privately held British Columbia company that has applied for a license to produce (an \"LP\") under the Access to Cannabis for Medical Purposes Regulations (the \"ACMPR\") on Gabriola Island, one of the gulf islands located in the Strait of Georgia off the coast of British Columbia. Gabriola Island has a consistent temperature and humidity level, which makes it well suited to greenhouse growing.\n\n\"This is one of the most significant steps our Company has taken towards becoming a full service cannabis company,\" stated Rob Abenante, Abattis President and CEO. \"After successfully obtaining a license through Gabriola, we intend to not only cultivate marijuana, but more importantly sell extracted cannabis products, which will complete our full downstream service offerings.\"\n\nThe Definitive Agreement comes following a series of rapid acquisitions, capital raises, investments and joint-ventures for the Company, which include the acquisition of a cash flowing vaporizer company, investment into a cutting-edge Blockchain technology and cryptocurrency and several collaborations with respected organizations, including the University of British Columbia.\n\nPursuant to the Definitive Agreement, in exchange for a 90% ownership interest in Gabriola, Abattis will issue an aggregate of 59,760,956 common shares of the Company (each, a \"Share\"), at a deemed price of $0.3765 per share, and pay an aggregate of $2.5 million in cash to the shareholders of Gabriola, with the exception of Can...