Abattis Blockchain Deal Closes
Abattis(CNSX:ATT.CN) (OTC:ATTBF) announces that, further to its news release dated February 1, 2018, it has completed its acquisition of a 49% stake in CannaNUMUS Blockchain Inc. ("CannaNUMUS"), pursuant to the investment agreement dated January 31, 2018 between the Company and CannaNUMUS (the "Investment Agreement"). The Company is also pleased to announce that CannaNUMUS has achieved the first milestone (the "Milestone") under the Investment Agreement by entering into an agreement with Active Health Products Ltd ("Active Health"). "We are excited to see such immediate progress on our investment in CannaNUMUS," stated Rob Abenante, President and CEO of Abattis. "We believe this is just beginning of many more lucrative agreements and synergies for CannaNUMUS with LPs and also Licensed Dealers," added Mr. Abenante. Abattis believes that its investment in CannaNUMUS will appreciate significantly in value as CannaNUMUS gets closer to an ICO and signs agreements with Licensed Producers ("LPs") and late stage LP applicants. Active Health, located in Duncan, BC, is the second cannabis cultivation project for its founder and CEO, Jim Money. Mr. Money, recently developed and sold Broken Coast Cannabis Inc. ("Broken Coast"), also located on Vancouver Island, for $230 million to Aphria Inc. Broken Coast is now successfully operating as a licensed producer. Pursuant to Active Health's agreement with CannaNUMUS, CannaNUMUS will invest into Active Health and, in exchange, Active Health will participate as one of CannaNUMUS's blockchain portfolio companies. More specifically, Active Health will use a fixed percentage of its quarterly revenues to buy CannaNUMUS tokens on the open market and subsequently burn them. The effect of the "buy and burn" will be similar to that when a company repurchases its own stock, and will function as method of providing liquidity to the market for CannaNUMUS tokens. Token burning will also act as a low-friction method of returning value to token holders. CannaNUMUS's innovative approach is expected to leverage blockchain technology in a way that brings market participants closer to the companies that they wish to support. Costly and laborious fund-administration procedures that are typical of many investment funds will replaced by a new, transparent approach to funding. When paired with well managed companies like Active Health, there will be significant potential for changing the way that investors are involved in markets. "With our model, you take well managed companies, pair them with the investment oversight in CannaNUMUS, and support those relationships with transparent and secure technology," stated Simran Gill, CEO of CannaNUMUS. "At the end of the day, there's more left on the table for investors," added Mr. Gill.