VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2012) - Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CNSX:FLU) is pleased to announce that the Company will be proceeding with the acquisition (the "Acquisition") from Michael Withrow, the President, CEO and a director of the Company, of up to 450 domain names (the "Domain Names") related to the business of the Company as well as certain assets (the "FFE Acquired Assets") comprised of (i) an unassembled plant related to an apparatus and/or a technology for extracting oils from natural biomass using a flash freezing extraction method; and (ii) certain engineering know- how, business models and trade secrets related thereto, all as more particularly set out in the information circular (filed on SEDAR on June 27, 2012) for the annual general and special meeting of shareholders of the Company held on July 23, 2012 (the "Meeting").
In consideration for the Acquisition, the Company will be issuing an aggregate of 6,136,362 common shares (2,727,272 shares for the Domain Names and 3,409,090 shares for the FFE Acquired Assets) at a deemed price of $0.11/share.
The Acquisition was approved by the disinterested shareholders of the Company at the Meeting.
All securities issued pursuant to the Acquisition will be subject to a 4 month hold period from the date of issuance.
ON BEHALF OF THE BOARD
Yazan Al Homsi
Neither the CNSX Exchange nor its regulations services accepts responsibility for the adequacy or accuracy of this release.