Interesting Time Ahead IndeedIf this occurs - It will be an extreme shareprice re-evaluation IMO - GLTA
ABATTIS ANNOUNCES AN INDEPENDENT VALUATION ON GREEN NATURE HEALTH CARE PRODUCTS
Abattis Bioceuticals Corp. has provided an update to its shareholders.
Abattis Bioceuticals has begun an independent valuation on Green Nature Health Care Products Inc., after the company posted strong performance within its existing and upcoming product catalogue in both the third quarter and fourth quarter of 2016. Green Nature, with which Abattis entered into an international licensing and co-branding agreement back in November, 2016, continues to import its branded dried-fruit products to about 200 food-based supply chains in China, including Shanghai Duty Free (five stores), Yangzhou Pharmacy (20 stores) and Walmart (388 stores). Green Nature's products are also found in Canada at TNT Markets and approximately 50 health care product stores.
Green Nature recently received a purchase order from a large Japanese supplier (250 national stores) for monthly container shipments of Green Nature's signature dried-fruit products. Green Nature has also started final packaging on several new product lines, including hemp and granola products, which the company plans to reveal through its busy trade show and sales schedule in 2017. As a result of these developments, Abattis has begun an independent valuation on Green Nature's business in order to determine its suitability as a strategic acquisition target. The initial agreement between Green Nature and Abattis gives Abattis the right to acquire Green Nature by issuing common stock if the opportunity should be deemed as accretive to Abattis by the board.
Additionally, Vergence Visionary Bioceuticals Corp., doing business as Vergence Sales and Marketing Group, a subsidiary of Abattis, has entered into a memorandum of understanding with VitaminGum to expand its sales channels into the South Korean market through Global Damon Pharma (GDP), with which Abattis has sales and distribution agreements in place for its proprietary products, and those under exclusive licence to Vergence/Abattis.
The functional food segment is expected to grow at a compound annual growth rate of 6.84 per cent between 2016 and 2022, and represents a quarter of the global nutraceutical market, which is projected to reach $302.31-billion by the end of the same period. Abattis, through its wholly owned subsidiary, Vergence Sales and Marketing Group, is strategically positioned to capitalize on this trend, and has planned for an aggressive sales schedule in the Asia-Pacific region for 2017.