Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB: ATTBF) (the “Company” or “Abattis”) is pleased to announce it has signed an exclusive distribution agreement effective April 20, 2017 (the “Agreement”) with Suzhou Raybot Material Tech Corp. (“Raybot”). The Agreement allows Abattis to use Raybot’s proprietary extraction technology and to exclusively sell the extraction equipment and services.
Raybot has developed a proprietary technology which utilizes industrial column chromatography to extract and separate a wide range of materials, in a continuous, closed loop system. This method, which is currently used in the mass production of extracts such as Ginkgo Biloba, Stevia and Ginsenosides among others, has been specifically designed for the extraction of legal cannabis derivatives such as Cannabidiol (“CBD”),Tetrahydrocannabinol (“THC”) and Cannabigerol (“CBG”) from Marijuana or Hemp. The technology has excellent processing capacity, high extraction yield and significant cost advantages over traditional methods.
The proprietary technology is capable of extracting CBD from Hemp to above a 99% purity level. The current methods using multi-staged CO2 extraction are significantly more expensive and limited in production scale. Raybot’s extraction machines can be customized to any factory production scale. A factory with 5,000 kg per day processing rate is able to produce CBD at $0.20 per gram.
“This technology has the potential to revolutionize the extraction process for THC, CBD, CBG and other cannabis derivatives globally,” stated Robert Abenante, President and CEO of Abattis. “Raybot’s proprietary extraction method is currently one of the only toll processing technologies that can extract high purity CBD on an industrial scale. Furthermore, it could lead to the full separation of individual compounds and derivatives at significantly lower costs than today’s widely used methods.”
“We are eager to bring this technology to Abattis to verify its capabilities in our labs,” says Dr. Will Panenka, Director of Abattis. Dr. Panenka, MD, is an assistant professor, neurologist, and psychiatrist with a pre-clinical and clinical academic research program focused on substance use and brain injury at the University of British Columbia.
Pursuant to the terms of the Agreement, Abattis has obtained exclusive rights to sell the machines, receive royalties and service licensed producers by offering toll processing and extraction. The distribution is exclusively licensed to Abattis in the territories of North America and Europe.
“This is the only extraction technology capable of processing industrial scale volumes of biomass and separation of individual compounds to any target purity levels,” said Dr. Shuang Xie, Director of Abattis. “With this technology, products containing phyto-cannabinoids can become more cost-effective which would enable the production of affordable natural, functional products for consumers.”
Northern Vine Update
The Company is also pleased to announce that its subsidiary, Northern Vine Canada Inc. (“Northern Vine“) has now been added to the Health Canada websites’ list of Licensed Dealers (see below for details). This further contributes to the Company’s positive momentum as Northern Vine completes the final installations and calibrations of its state of the art machinery capable of analytical testing for a variety of medicinal marijuana products.
Mr. Abenante commented: “We have taken a big step forward in becoming a full service provider to Licensed Producers and end-consumers of medicinal marijuana products. The agreement with Raybot puts the Company in a position to be the leading provider of phyto-cannabinoid extraction products and services, and the launching of our lab will enable us to immediately generate revenue through providing analytical testing services to the Canadian medical Cannabis market and the future Recreational market.”
credit:420intel.com
