Abattis Bioceuticals (
CSE:ATT,
StockForum), a Vancouver-based developer of proprietary health and wellness solutions that address chronic illnesses and disease in animals and humans, announced today that the company had signed a letter of intent (“LOI”) for a strategic partnership with Tranzbyte.
According to the
news release, the aforementioned proposed partnership is designed to broaden market reach allowing both entities to sell, market or otherwise license one another’s products in their respective regions.
As a result of a completed arrangement, Tranzbyte will have full access to the company’s growing quite of biopharmaceutical grow products included in Biocube Green Grow Systems for cultivation while Abattis will secure the Canadian rights to distribute ZaZZZ and will combine Tranzbyte’s Jurassic O2 water systems with its US Biocube Green Grow Systems sales drive.
Tranzbyte president, David Gwyther, commented, “I am very impressed with Abattis's commitment to the research, development, and marketing capability they've shown involving their proprietary, natural health and wellness solutions which address chronic illnesses through targeted nutritional support and, thus, fit perfectly into Tranzbyte's future plans. Working together leverages our collective visions for this vast and expanding marketplace.”
Mike Withrow, Abattis CEO, added, “This offers dispensaries and growers a complete end-to-end solution of cutting-edge grow technologies and plant analysis.”
He went on to illustrate, “In addition, with the rights to the ZaZZZ automated vending opportunity as the regulatory climate evolves in Canada, we open up a lot of growth potential.”
Then he finally concluded, “Merging the efforts of the leading companies in each country should build real shareholder value for each company.”
Abattis was in the news recently when
the company was included in a broad update of the medical marijuana sector.
Shares gained 5.56% on the news to $2.47 per share.
Currently there are 47.6m outstanding shares with a market cap of $119.0 million.