Canadian Federal Court Judges MMPR Injunction Very Positive for Abattis. - ABC 33/40 - Birmingham News, Weather, Sports

Canadian Federal Court Judges MMPR Injunction Very Positive for Abattis.

Posted: Updated:

Vancouver, BC / ACCESSWIRE / March 24, 2014 / Abattis Bioceuticals Corp. (the Company or “Abattis) (OTC PINK: ATTBF) (CSE: ATT), is pleased to comment on Canadian Federal judge Justice Michael D. Manson’s ruling on March 21, 2014.

A Federal Court judge issued an injunction Friday that exempts currently licensed marijuana users and producers from the incoming Marihuana for Medical Purposes Regulations (“MMPR”), set to take effect on April 1. This means that people with existing Authorization to Possess, Designated-person Production, or Personal-use Production licenses issued under the old rules will still be permitted to possess and/or grow medical marijuana past April 1.

This recent development is very positive for Abattis and underscores the value and effectiveness of the Company’s integrated and diversified business model. Abattis believes this injunction will allow the Company to:

-Accelerate the execution of its business plan;

-Enhance near-term cash flow potential;

-Demonstrate the value of its integrated and diversified “GDERS” business model;

-Further strengthen its position as the leading legal marijuana company; and

-More quickly realize value for shareholders.

Abattis currently has access to several licenses issued under the Marihuana Medical Access Regulations (“MMAR”) that were going to expire April 1. These licenses can now be kept active and potentially transferred to Abattis facilities with pending MMPR license applications enabling the Company to grow and sell medical marijuana sooner than first planned. The Company will also be able to demonstrate the efficiency of the Abattis Biocube Green Grow Systems by utilizing them at these facilities. Additionally, Abattis’ newly acquired Natures Juice organic feed products will continue to be consumed by existing growers. Finally, the Company now anticipates a quicker roll out of its Canadian lab and testing facilities as well as its nationwide medical marijuana pharmacy model.

Abattis’ “GDERS” (Grow, Dry, Extract, Refine, Science/Sell) business model was designed to provide the Company and its shareholders with the most diversified exposure to the burgeoning legal marijuana business as possible. While companies focused solely on the production of medical marijuana in Canada will likely be negatively impacted by Friday’s ruling, Abattis stands to benefit significantly.

“It looks like Canada now has two systems operating at a Federal level. This is a best case scenario for Abattis as we had the foresight and good fortune to structure our business in a way that capitalizes on both this new ruling and the MMPR.” stated Mike Withrow, CEO of Abattis Bioceuticals Corp. He went on to say, “Abattis was designed to be one of the only companies that can operate across multiple business lines in several international markets and now we can start legally growing in Canada earlier than expected. We have some of the top analysts working with us to ensure safety, consistency and innovation in all of our products.”

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.

For further information, contact the Company‘s CEO, Michael Withrow at:

(778) 896-6536 or 1-872-701-5589 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 Companys Managements Discussion and Analysis for the nine months ended June 30, 2013 and filed on August 29, 2013 and for the year ended September 30, 2012 and filed on January 28, 2013 under the Companys profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

ReleaseID: 413377

  • Latest StoriesMore>>

  • Saban: Bama's QB competition continues

    Saban: Bama's QB competition continues

    Monday, September 1 2014 10:26 PM EDT2014-09-02 02:26:09 GMT
    Alabama still has competition for the starting job at quarterback. Crimson Tide coach Nick Saban says both Blake Sims and Jake Coker will play Saturday against Florida Atlantic. He says he hasn't determined how the rotation will work for No. 2 Alabama.More >>
    Alabama still has competition for the starting job at quarterback. Crimson Tide coach Nick Saban says both Blake Sims and Jake Coker will play Saturday against Florida Atlantic. He says he hasn't determined how the rotation will work for No. 2 Alabama.
    More >>
  • City of Clay to defend pit bull ban in court Tuesday

    City of Clay to defend pit bull ban in court Tuesday

    Monday, September 1 2014 7:14 PM EDT2014-09-01 23:14:16 GMT
    The city of Clay will defend its Vicious Dog Ordinance Tuesday morning in court. The city council passed the ordinance last year. It bans pit bulls. Mayor Charles Webster calls it the biggest safety issue in Clay since he's been elected.More >>
    The city of Clay will defend its Vicious Dog Ordinance Tuesday morning in court. The city council passed the ordinance last year. It bans pit bulls. Mayor Charles Webster calls it the biggest safety issue in Clay since he's been elected.
    More >>
  • Friday Night Blitz: Coverage lineup for Week 3

    Friday Night Blitz: Coverage lineup for Week 3

    Monday, September 1 2014 6:32 PM EDT2014-09-01 22:32:55 GMT
    Week 3 Blitz Game of the Week:MOUNTAIN BROOK vs HOOVER (The Met)Blitz Cheer:BESSEMER CITY at BROOKWOODBlitz Brigade:HUEYTOWN at MINOROther Notable Matchups:VESTAVIA HILLS at OAK MOUNTAINNORTHRIDGE at MCADORYHILLCREST at CLAY-CHALKVILLE CENTRAL-CLAY at SHELBY COUNTYDEMOPOLIS at CALERAMUNFORD at LEEDSCHILTON COUNTY at PELL CITYPIEDMONT at ASHVILLEMOODY vs SPRINGVILLEJACKSON-OLIN vs BRIARWOODTHOMPSON at SPAIN PARKHEWITT-TRUSSVILLE at TUSCALOOSA COUNTYCORNER vs FAIRFIELDGREENE COUNTY vs GORDOTHOR...More >>
    Week 3 Blitz Game of the Week:MOUNTAIN BROOK vs HOOVER (The Met)Blitz Cheer:BESSEMER CITY at BROOKWOODBlitz Brigade:HUEYTOWN at MINOROther Notable Matchups:VESTAVIA HILLS at OAK MOUNTAINNORTHRIDGE at MCADORYHILLCREST at CLAY-CHALKVILLE CENTRAL-CLAY at SHELBY COUNTYDEMOPOLIS at CALERAMUNFORD at LEEDSCHILTON COUNTY at PELL CITYPIEDMONT at ASHVILLEMOODY vs SPRINGVILLEJACKSON-OLIN vs BRIARWOODTHOMPSON at SPAIN PARKHEWITT-TRUSSVILLE at TUSCALOOSA COUNTYCORNER vs FAIRFIELDGREENE COUNTY vs GORDOTHOR...More >>
  • Member of biker club speaks about fight before shooting

    Member of biker club speaks about fight before shooting

    Monday, September 1 2014 6:29 PM EDT2014-09-01 22:29:44 GMT

    Police: suspect in fight before shooting into crowd

    More >>

    Police: suspect in fight before shooting into crowd

    More >>
  • Labor Day Moon Pie eating contest

    Labor Day Moon Pie eating contest

    Monday, September 1 2014 6:22 PM EDT2014-09-01 22:22:19 GMT
    Dozens of folks got their ''fill'' of a popular Alabama treat this Labor Day.Tannehill State Park hosted the largest Moon Pie eating contest. All total there were 65 people who signed up. The winner receives a cash prize of $100. But this is about more than money. Park administrator, Stacey Green says, "I thought at times it was about the cash prizes, because the adults will win $100. But we've had so many repeat competitors, that I really think they're more in it for bragging rights. I re...More >>
    Dozens of folks got their ''fill'' of a popular Alabama treat this Labor Day.Tannehill State Park hosted the largest Moon Pie eating contest. All total there were 65 people who signed up. The winner receives a cash prize of $100. But this is about more than money. Park administrator, Stacey Green says, "I thought at times it was about the cash prizes, because the adults will win $100. But we've had so many repeat competitors, that I really think they're more in it for bragging rights. I re...More >>
  • UPDATE: Car belonging to elderly stabbing victim found

    UPDATE: Car belonging to elderly stabbing victim found

    Monday, September 1 2014 6:07 PM EDT2014-09-01 22:07:42 GMT
    Birmingham police say a neighbor found the woman lying on the floor of her house on the 600 block of 39th Street South Sunday evening. They believe she was the victim of a burglary and was stabbed to death.More >>
    Birmingham police say a neighbor found the woman lying on the floor of her house on the 600 block of 39th Street South Sunday evening. They believe she was the victim of a burglary and was stabbed to death.More >>
  • Job growth under microscope this Labor Day

    Job growth under microscope this Labor Day

    Monday, September 1 2014 5:50 PM EDT2014-09-01 21:50:56 GMT
    Keeping a roof overhead and putting food on the table. That's still difficult for many Alabamians on this 130th Labor Day. A just released report by Arise Citizens Policy Project warns Alabamians will continue to feel the effects of the great recession for years to come. Arise is a statewide nonprofit, nonpartisan coalition that believes low-income people are suffering because of state policy decisions. Bottom line is that Alabama's unemployment rate stands at seven percent. Yet, the stat...More >>
    Keeping a roof overhead and putting food on the table. That's still difficult for many Alabamians on this 130th Labor Day. A just released report by Arise Citizens Policy Project warns Alabamians will continue to feel the effects of the great recession for years to come. Arise is a statewide nonprofit, nonpartisan coalition that believes low-income people are suffering because of state policy decisions. Bottom line is that Alabama's unemployment rate stands at seven percent. Yet, the stat...More >>
  • Birmingham security talks underway for Magic City Classic, Dalai Lama visit

    Birmingham security talks underway for Magic City Classic, Dalai Lama visit

    Monday, September 1 2014 2:46 PM EDT2014-09-01 18:46:22 GMT
    This year's Magic City Classic week in Birmingham may be a classic one for security. That's because the annual game is happening the same week as the Dalai Lama's multi-day visit to the city, as ABC 33/40More >>
    Security preps.More >>