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Abattis Provides Company Update and Comments on LOI Regarding Green Tree Therapeutics
Abattis Provides Company Update and Comments on LOI Regarding Green Tree Therapeutics.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n\n VANCOUVER, British Columbia, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the \"Company\" or \"Abattis\") (CSE:ATT) (OTC:ATTBF) is pleased to provide a company update and further commentary on its previously announced proposed acquisition of GT Therapeutics Corporation, dba Green Tree Therapeutics (“GTT”).\n Extraction: Earlier this month the Company announced breakthrough extraction results.  For more information please refer to its news release dated December 12: https://abattis.com/2017/12/12/abattis-confirms-breakthrough-extraction-technology-capabilities/ Financing:  Over the past month, the Company has successfully raised over $8,500,000 in private placements and warrant exercises. These funds are expected to be used to aggressively grow the extraction business, and for laboratory expansion, acquisitions and general working capital. Acquisition: Earlier today, the Company announced its intent to purchase Green Tree Therapeutics via an acquisition of Winston Resources Inc. (“WRW”). Further details are set out below. “We are very pleased with the rapid growth and positive momentum in Abattis,” commented Rob Abenante, CEO of Abattis. “Many of the goals we have been working towards over the year are starting to come to fruition, which has enabled the Company to raise capital that we intend to use to continue our ambitious growth strategy in 2018.” About Green Tree Therapeutics GTT owns a brand of vaporizers currently sold in approximately 130 stores, including medical and adult use dispensaries across North America, and it is also engaged in the expansion of its product offerings for alternate cannabis products, including capsules, oils, and lotions. GTT's vaporizers are believed to provide therapeutic benefits through the delivery of beneficial CBD and THC extracts, and a system for rapid absorption for the quick delivery of cannabinoids. Further information can be found on GTT’s website at www.greentreetherapeutics.com.  “GTT is a perfect fit for the Company’s downstream services portfolio,” stated Mr. Abenante. “Our proposed acquisition of GTT is expected to complement our retail offerings in our wholly-owned subsidiary, Vergence Naturals Ltd. (“Vergence”), and to provide a solid entry point in...