VANCOUVER, British Columbia, Aug. 28, 2017 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE:ATT) (OTC:ATTBF) is pleased to announce a breakthrough CBD-based sunscreen formulation, developed by Abattis through its majority-owned subsidiary, Northern Vine Canada Inc. (“Northern Vine”), and plans to distribute and market the product through its wholly-owned subsidiary Vergence Visionary Bioceuticals (“Vergence”).
Developed under the code name “Project RAYZ” (“RAYZ”), Northern Vine’s new Cannabidiol (“CBD”) based sunscreen is all natural, GMO-free, and 100% organic.
“Our formulation team at Northern Vine has exceeded our expectations with the successful development of RAYZ,” said Abattis and Northern Vine, President and CEO, Robert Abenante.
“This formulation has the ability to shake up the sunscreen market. We are confident that Vergence and its distribution and marketing experts will guide RAYZ to reach its full market potential through white label or Vergence branded channels,” added Mr. Abenante.
Northern Vine New Frontier in CBD-Based Skin Care
Northern Vine recently completed development of RAYZ, which is an SPF 30 sunscreen with an exclusive CBD + HAB (High Absorption and Bioavailability) formula. RAYZ is formulated to fully deliver the health benefits of CBD and a cannabinoid-rich organic hemp oil with enhanced skin absorption and bioavailability that is both chemical and THC-free.
RAYZ has already proven to comply and exceed the core recommendations from the American Academy of Dermatology (“AAD”) and the Canadian Skin Cancer Foundation (“CSCF”) which are: 1) broad spectrum protection (UVA and UVB, the two more common forms of ultraviolet radiation responsible of skin cancer), 2) SPF of 30+, and 3) water resistance.
“This formulation displays the Company’s ability to combine regulatory expertise with downstream products.” said Mr. Abenante. “This is an area we feel marks the trend in the cannabis space as we move into full legalization. Hundreds of new products will need to be formulated, tested and validated with Health Canada approval, whether they are delivery devices or functional edible products.”
In addition to AAD and CSCF compliance, RAYZ’s is formulated with a mineral active ingredient, reducing risks associated with chemical sun filters commonly used by many sunscreens in the market. An example of such risks prompted Health Canada to investigate a leading sunscreen brand after complaints suggesting babies were burned by a popular product [1]. Additionally, RAYZ’s active ingredient avoids the toxic effects associated with chemical sunscreens that are partially responsible for coral bleaching [2].
“We have formulated and tested RAYZ to be complaint with health regulations in the North American, European and Australian markets aiming to generate revenue year-round by taking full advantage of the summer season in both hemispheres,” said Dr. David Galvez, Senior Science advisor and chief developer of RAYZ.
“RAYZ is the first step in a line of skincare products that can be used during summer or winter while performing water-related activities, sunbathing, hiking or just working in your garden,” said Dr. Galvez.
This CBD-based formulation marks another significant milestone in the Company’s path as a leading service provider in testing, analytics, formulations, branding and distribution in the rapidly evolving downstream markets for the cannabis industry.
“As the market continues to see an increase in the number of Licensed Producers, we will be there to meet all their downstream service needs.” said Mr. Abenante.
Vergence’s RAYZ Branding and Distribution Plans
Plans for Vergence’s launch of RAYZ on the open market are already underway. Vergence is set to add RAYZ to its growing line of Bioceuticals to be sold in North America, Europe, Australia and Asia.
Vergence has already assumed the role of labeling, marketing, and distributing Northern Vine’s RAYZ formula.
“The pathway for RAYZ formulation, branding and sales distribution is testament to the Company’s burgeoning strategy of vertical integration,” said Mr. Abenante.
“The complimentary synchronicity between Northern Vine and Vergence is proof of the Company’s strategy of bringing cutting edge products to the market. We are confident that RAYZ will be the first of many Cannabis infused products the Company will bring to the market as Canada continues down the path towards recreational legalization of marijuana.”
About Abattis Bioceuticals Corp.
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.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada (Dealers License) for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian cannabis market.
About Vergence Visionary Bioceuticals Corp.
Vergence Visionary Bioceuticals, dba Vergence Naturals, is a wholly owned subsidiary of Abattis Bioceuticals Corp. based in Vancouver, B.C., Canada. The Vergence team are bioceutical marketing specialists focused on health products to penetrate the fast growing market for natural, safe and effective natural products that fulfill unmet wellness needs.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
“Rob Abenante"
Robert Abenante, President, CEO & Director
For more information, please visit the Company's website at: www.abattis.com or www.northernvinelabs.com
For inquiries, please contact the Company at (604) 336-0881 or at news@abattis.com.
[1] Health Canada investigating Banana Boat sunscreen after 3 complaints of babies burned by product. Global NEWS, May 30, 2017.
[2] Is your Sunscreen Poisoning the Ocean? The New York Times, August 19, 2017.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", “intends”, "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding the breakthrough quality of the CBD based sunscreen; the all-natural, GMO free and fully organic nature of the product; the expectations of Abattis with respect to the successful development of formulations; the ability of the product to shake up the sunscreen market; the ability of the product to receive necessary approvals, including those of Health Canada and other regulators, in respect of drug and health products; the ability of Vergence marketing experts to help meet the full market potential or what that potential is; the success of the plans to launch in North America, Europe, Australia and Asia; the ability to import products into various countries based on their regulations regarding controlled substances; the ability to legally selling and market CBD products in the United States; the ability of Vergence to successfully label, market and distribute the RAYZ formula; the Company’s strategy of vertical integration and synchronicity between Northern Vine and Vergence; whether or not the products are or will be cutting edge; and, the number of products the Company will bring to market. 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, including that the formulation has high absorbing and bioavailability to deliver the health benefits of CBD; what the benefits of CBD are; whether or not the product will be chemical and THC free; whether or not the product will continue to comply with and exceed the core recommendations from AAD and CSCF; the ability of the product to guard against skin cancer; the water resistant quality of the product; the ability of the Company to combine regulatory expertise and downstream products; the number of products needing to be formulated, tested and validated with Health Canada approval for delivery devices or edible products; the efficacy of the mineral active ingredient to reduce the risks associated with chemical sun fillers used by many other sun screens in the market; the ability of the active ingredient in the product’s ability to avoid the toxic effects associated with chemical sun creams partially responsible for coral bleaching; the product’s compliance with North American, European, Australian and Asian health regulations; the ability of the Company to take full advantage of the summer season year round in both hemispheres to generate revenue; the ability of the Company to be the leading service provider in testing, analytics, formulations, branding and distribution; the speed at with the downstream markets for cannabis related products will evolve; the ability for the Company to meet downstream service needs; the Company’s ability to combine the formulation may not work as expected or at all, and, products may not be competitive in the market; or, Company will be unsuccessful in developing new product formulations in the time expected or at all, the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues, the Company’s competitors may develop competing technologies, changes in regulatory requirements and other factors beyond the Company’s control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.