NEWS DETAIL

Abattis Provides Corporate Updates

Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (CSE:ATT) (OTC:ATTBF) is pleased to provide the following corporate updates.

Completion of Private Placement

Abattis has completed a non-brokered private placement for gross proceeds of $2.25 million (the “Proceeds”) through the issuance of 13,235,294 common shares of the Company priced at $0.17 per share. The Company anticipates that the Proceeds will be used to organically grow its existing downstream service division and for general working capital purposes.

Contact Information Update and Communications Framework Changes

Abattis’s new communications program will be managed through the following:

  • All direct investor inquiries will be directed through:
    – Phone:  via a new dedicated IR phone number: 604-441-1304
    – Email:  [email protected]
  • All customer inquiries and requests for information respecting the general operations of the Company will be managed through the Company’s website in the Contact Us section.
  • The website now also has an automated customer service function, to provide visitors with enhanced and real time communication while browsing.

The Company anticipates that the new communications framework will significantly decrease the turnaround time for shareholder and general inquiries.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Abattis Bioceuticals Corp.

Abattis is a leading diversified cannabis company, with interests in operations engaged in growing, extraction, testing, propagation and retail distribution. Over the past few years, Abattis has made key acquisitions to leverage synergies and vertically integrate its business. Through Abattis’s ownership interest in Northern Vine Labs, Abattis has access to a laboratory facility holding a Health Canada dealer’s license and, through its wholly owned subsidiary Gabriola Green Farms, it has applied for a Health Canada license to produce and sell Cannabis flower and oils. Abattis also operates a retail vaporizers business through its wholly owned subsidiary, Green Tree Therapeutics, which offers 10 unique branded SKUs online and across the country and owns a series of marketing, licensing and technology rights. Abattis has also partnered with a number of organizations, including the University of British Columbia Faculty of Land and Food Systems, with which it is developing delivery platforms with increased stability and bioavailability for cannabinoid rich THC-free hemp extracts.

ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,

“Rob Abenante”
Robert Abenante, President & CEO

For more information, please visit the Company’s website at: www.abattis.com or www.northernvinelabs.com

For inquiries, please contact the Company at (604) 674-8232 or at [email protected].

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain information set out in this news release constitutes forward-looking information, which may include information relating to the use of Proceeds described herein and the Company’s new communications framework. Forward-looking statements (often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate”, or “will”, and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, rules and regulations relating to the cannabis industry, operational risks associated with development and production operations, delays or changes in plans and unanticipated costs and expenses, among others. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. In particular, there is no assurance that the Proceeds will be used as expected or that the Company’s new communications framework will be implemented as expected or at all. Although the Company believes that the expectations reflected in the forward-looking statements set out in this news release are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this news release are expressly qualified, in their entirety, by this cautionary statement. Except as required by law, we do not undertake to update any forward-looking statement contained in this news release.