Abattis Bioceuticals Corp. (OTCQB: ATTBF) is a biotechnology company that specializes in the production, licensing, and marketing of treatments, ingredients, and formulas, which are used in the biopharmaceutical, nutrition, cosmetic, and animal nutrition markets. Shares of Abattis Bioceuticals Corp. are rallying 43.15% during afternoon trading on Tuesday, October 4, 2016. Over the past three months, the company has seen average daily volume around 224,384 shares. However, nearly 1.4 million shares or dollar volume of $140,000, have already exchanged hands through afternoon trading Tuesday.
Shares of Abattis Bioceuticals Corp. are rallying Tuesday, after management announced that subsidiary, Northern Vine Labs, has been awarded a controlled substance license from Health Canada. The license will help the company increase their testing abilities for treatments and medicinal substances. In addition, the company has stated they will use testing services for cannabis, in addition to other medicinal substances. Here is the full press release detailing of Abattis Bioceuticals Corp.’s controlled substance license:
Abattis Bioceuticals Corp. Press Release:
VANCOUVER, BC / ACCESSWIRE / October 3, 2016 / Abattis Bioceuticals Corp. (ATTBF) (CSE:ATT) (the “Company” or “Abattis”), is pleased to announce that Northern Vine has received a letter from Health Canada and a copy of the licence informing that it is now an authorized Licensed Dealer.
“We wish to congratulate the Northern Vine team on this important milestone for the Company. We have remained patient in obtaining this licence. We persevered and were granted Licence No. 2016/6368 for our Northern Vine facility.”
‘The licence allows for the analytical testing of samples of cannabis received from holders of a valid licence issued under the Narcotic Control Regulations, the Access to Cannabis for Medical Purposes Regulators or from an individual authorized by a valid exemption under the Controlled Drugs and Substances Act to provide, deliver, transport or send fresh or dried marihuana or cannabis to licensed dealers for the purposes of analytical testing.’
“The Northern Vine facility would be one of the only testing facilities in the Lower Mainland of British Columbia and one of 18 in Canada. Abattis is very proud of this accomplishment and is looking forward to moving to the revenue and growth stage of the Company for its investors and stakeholders. We are grateful for the support of the shareholders, staff, board of directors and are excited about the future prospect of Abattis and its related companies,” said Rene David, Director of Northern Vine and Individual in Charge of the Premises.
Further reading on the importance of testing facilities on the quality of medical marihuana please see:
Katherine Maloney, Qualified Person in Charge at the Northern Vine Canada facility provides the following information. “We can test for any approved patients or licensed producers. We will test for potency, constituency, microbial, foreign matter for dried marijuana and oils. Our license includes research and product development, as well as production of base materials. Northern Vine continues to explore different testing methodologies with BCIT. We intend to expand our list of approved cannabinoids and intend to file an amendment to expand on the list.” Northern Vine seeks to become the premier analytical testing laboratory and research and development partner to the legal cannabis industry in Canada. Northern Vine will be known for: neutral, credible and reliable third party testing service, highest quality, accuracy, speed and competitive pricing.
About Abattis Bioceuticals Corp.
Abattis is a specialty biotechnology company that aggregates, incubates, integrates, and invests in the botanical drug development industry. The Company develops and licenses natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets — some of which will contain cannabinoid compounds. The Company also has an extensive pipeline of high-quality products and intellectual property for the rapidly expanding botanical drug market. We follow strict standard operating protocols, and adhere to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company’s website at: www.abattis.com.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the Canadian market.