ABATTIS BIOCEUTICA COM NPV (OTCMKTS:ATTBF) has sold off in recent trade but in the larger timeframe, we are seeing a 52-week upward change of 100.16%. One recent driver is the acquisition of Gabriola Green Farms. Gabriola is in the process of acquiring its ACMPR license, which makes this a potentially strong additive to ATTBF’s portfolio. This is a cannabis play out of Canada, so worth a closer look.
“This is one of the most significant steps our Company has taken towards becoming a full service cannabis company,” stated Rob Abenante, Abattis President and CEO. “After successfully obtaining a license through Gabriola, we intend to not only cultivate marijuana, but more importantly sell extracted cannabis products, which will complete our full downstream service offerings.”
ABATTIS BIOCEUTICA COM NPV (OTCMKTS:ATTBF) casts itself as 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 marijuana markets in North America.
In essence, ATTBF develops, licenses, and markets health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets in Canada. It is also involved in the possession of cannabis and related active ingredients, as well as the production of extracts; and bioceutical marketing services in the area of health products.
ATTBF was formerly known as Abattis Biologix Corporation and changed its name to Abattis Bioceuticals Corp. in September 2012. Abattis Bioceuticals Corp. was incorporated 1997 and is headquartered in Langley, Canada.
According to company materials, “Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions.”
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According to the press, ATTBF has also secured a right of first refusal on the remaining 10% ownership interest in Gabriola from CannaNUMUS and an option to acquire the lands on which Gabriola’s operations are conducted for $7 million until February 27, 2023 from an unrelated third-party.
“Our acquisition of Gabriola will round out our product offerings and complement our existing offerings in the cannabis products, technologies and services space. With its production facility located on ideal Gabriola Island, Gabriola has the potential to become a significant producer upon receipt of an LP,” stated Rob Abenante. “With our powerful cash position and liquidity, as well as our experience across various domains in the cannabis space, we are well positioned to support Gabriola’s expansion”.
The news for buying out Gabriola comes after the company received good news on the CBD oil front. In December, ATTBF announced the successful completion of experiments confirming column chromatography extraction technology. This technology combats one of the biggest problems with CBD oils and that is yield levels. “The extraction method using proprietary polymers has very distinct competitive advantages over traditional methods,” said Rob Abenante, President and CEO of Abattis. “The technology is capable of extraction on an industrial scale, which delivers significant cost advantages.”
Both of these deals are showing a company that is looking to prepare for the next chapter of the green rush.
Now commanding a market cap of $51.93M, ATTBF is continuing a strong rise toward legitimacy in this burgeoning market. ATTBF has seen 10-day volume near a million and 3-month average volume at 2.1M. CBD oils are going to be an important part of the cannabis market and those who have high-powered yield tech will be in high demand. The new acquisition only gives them feed stock for more CBD oil as well. Watch out for ATTBF and check back in for more news. Sign-up for continuing coverage on shares of $ATTBF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ATTBF, either long or short, and we have not been compensated for this article.