Abattis Bioceuticals Corp. (OTCQB: ATTBF) is a biotechnology company that is engaged in the production, licensing, and marketing of biopharma, nutraceutical, cosmetic, and animal nutrition. Shares of Abattis Bioceuticals Corp. have rallied around 250% over the past five trading sessions, including today’s 27.04% gains. Over the past three months, Abattis Bioceuticals Corp. has seen average daily volume of around 180,042 shares. However, nearly 723,330 shares or dollar volume of $50,633, has already exchanged hands through afternoon trading on Wednesday, September 21, 2016.
Shares of Abattis Bioceuticals Corp. have been sustaining a strong upward surge over the past five trading days, after management updated shareholders on amending certain warrants out on the company. Over 2.37 million warrants were recently restructured and had the terms amended. The original warrant terms were $0.18 per common share strike price. The revised terms have lowered the warrant exercise price to $0.15 per common stock share. Here is the press release detailing of the warrant amendments:
Abattis Bioceuticals Corp. Press Release:
VANCOUVER, BC / ACCESSWIRE / September 12, 2016 / Abattis Bioceuticals Corp. (ATTBF) (CSE:ATT) (the “Company” or “Abattis”), announces that today the Company is repricing certain warrants issued pursuant to a private placement on March 17, 2015. The Company will amend the following terms:
|Original Terms||Revised Terms|
|Exercise Price||$0.18 per common share||$0.15 per common share|
|Term||September 19, 2016 at 5:00 PM||September 19, 2018 at 5;00 PM|
At total of 2,365,072 warrants were issued under the private placement and are subject to amendment. Pursuant to Policy 7.4.6 of the Canadian Stock Exchange, insiders do not comprise more than 10% of the warrants subject to amendment and therefore no pro-rata adjustment is necessary.
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.
ON BEHALF OF THE BOARD
Rene David, CFO/COO and interim CEO
For further information, contact the Company at (604) 336-0881 or at firstname.lastname@example.org.