Abattis Announces Shares For Debt Settlement - kcentv.com - KCEN HD - Waco, Temple, and Killeen

Abattis Announces Shares For Debt Settlement

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Vancouver, BC / ACCESSWIRE / March 31, 2014 / Abattis Bioceuticals Corp. (the “Company” or “Abattis”) (OTC PINK: ATTBF) (CSE: ATT), announces the Company has reached a debt settlement arrangement with a service provider which is related to one of its directors in relation to an aggregate of US$62,554 debt owed to the service provider. Under the terms of the agreement, the Company proposes to issue an aggregate of 43,440 shares at a deemed price of US$1.44 (approx. CAD$1.60) per share.

About Abattis Bioceuticals Corp.

Abattis is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal markets in North America. The company is positioned to capitalize on the fast growing trend toward marijuana legalization in the United States and for medicinal use in Canada and international jurisdictions by supplying and partnering with companies to employ its vertical cultivation systems, extraction equipment/technology, and strategic marketing support to licensed growers. 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 Law’s of Canada and Foreign Jurisdictions. For more information, visit the Company’s website at www.abattis.com.

ON BEHALF OF THE BOARD

“Mike Withrow”

Michael Withrow
President & CEO

For further information, contact the Company’s CEO, Michael Withrow at (778) 896-6536

or at mike.withrow@abattis.com.

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

FORWARD LOOKING INFORMATION

This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis for the three months ended December 31, 2013 and filed on March 3, 2014 and for the year ended September 30, 2013 and filed on January 28, 2014 under the Company’s profile on http://www.sedar.com/. While the Company may elect to, it does not undertake to update this information at any particular time.

ReleaseID: 413729

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