Business
Abattis Subsidiary, Northern Vine, Provides Update on Growth Targets
Abattis Subsidiary, Northern Vine, Provides Update on Growth Targets.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n\n VANCOUVER, British Columbia, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (CSE:ATT) (OTC:ATTBF) is pleased to provide an update on its subsidiary, Northern Vine Canada Inc. (“Northern Vine”), which specializes in the legal testing and analysis of cannabis products and is expected to soon commence extraction of cannabinoid derivatives for commercial applications.\n “Northern Vine is ramping up for a busy finish to 2017,” said Northern Vine and Abattis President and CEO, Robert Abenante. “We are very pleased with the progress of Northern Vine and are working hard to become a premiere cannabis laboratory and extraction processing center. Northern Vine is now poised for further growth and expansion. Given the progress of Northern Vine’s development, we anticipate that we will be ready for larger volume licensed producer (LP) clients by next quarter.” Improved Capacity and Turn-Around Times Northern Vine continues to successfully accept cannabis flower, oil and edible samples at its lab in Langley, BC. The team of scientists has improved their methods and procedures and are aiming to provide a full cannabinoid profile with the most efficient turnaround times in the market. Additionally, Northern Vine has successfully submitted an application to Health Canada regarding enhancing its security from Level 3 to Level 6. Approval of this security level enhancement will increase the amount of controlled substances Northern Vine can hold and process in its lab to up to 25 kgs. This is expected to enable Northern Vine to exponentially increase the volume of services it can provide to LPs and ACMPR patients. Arrival of Raybot Team Northern Vine also welcomed the extraction team from Suzhou Raybot Material Tech Corp. (“Raybot”). Raybot’s contribution to Abattis’ and Northern Vine’s operations includes provision of Raybot’s proprietary extraction technology to Abattis and Northern Vine, and the granting of exclusive rights to sell and service Raybot’s extraction equipment. Delivery of two Raybot extraction machines is expected in the fall of 2017. Strategically located in Langley, BC, Northern Vine is expected to be in the hub of major future testing and formulation activity. As Northern Vi...