VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2012) - Abattis Bioceuticals Corp. (CNSX:FLU) (the "Company" or "Abattis") is pleased to announce a non-brokered private placement of up to 2,100,000 units of the Company (the "Units") at a price of $0.05 per Unit for gross proceeds of up to $105,000. Each Unit will be comprised of one common share of the Company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.13 per share for a period of one year, subject to forced acceleration in the event the Company's shares close at a price of $0.20 or higher per share on the Canadian National Stock Exchange (or such other stock exchange as the majority of the trading volume of the Company's shares occur) for 10 consecutive trading days.
Certain directors and officers of the Company may acquire securities under the private placement. A finder's fee of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies.
The proceeds of this private placement will be used for the general working capital purposes.
The above financing is subject to regulatory approval.
About Abattis Bioceuticals Corp.
Abattis Bioceutical Corp. is a specialty biotechnology company with capabilities through its wholly owned subsidiaries of producing, licensing and marketing proprietary ingredients for use in BioPharma, Nutraceutical, Cosmetic and Animal Nutrition markets. The Company has a deep pipeline of proprietary products ready for sale in high growth areas of Functional Foods and Supplements business. For more information, visit the Company's website at www.abattis.com.
ON BEHALF OF THE BOARD
Michael Withrow, President & CEO
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