Abba Medix Group Inc.
CNSX : ABA

Abba Medix Group Inc.

August 19, 2015 16:30 ET

Abba Medix Group Gives Update on RedeCan and Blow Vapor Transactions

TORONTO, ONTARIO--(Marketwired - Aug. 19, 2015) - Abba Medix Group (CSE:ABA) wishes to report that its business arrangements with RedeCan Pharm and Blow Vapor are transforming in the face of rapidly changing conditions in the Canadian medical marijuana marketplace.

Abba Medix's Share Purchase Agreement for the acquisition of RedeCan Pharm lapsed on August 7, 2015. However, the companies have maintained a good working relationship and continue the discussion of a new agreement for Abba Medix to acquire RedeCan Pharm.

Abba Medix's Memorandum of Understanding with Blow Vapor expired July 31, 2015; however, the companies continue to discuss the potential of a new deal.

Ray Rasouli, CEO of Abba Medix stated, "The Canadian medical marijuana marketplace is undergoing rapid change. The decision of the Supreme Court of Canada regarding alternative delivery systems for medical marijuana has had a significant impact on the operating assumptions of the industry and we are very grateful to both RedeCan Pharm and Blow Vapor for their flexibility in the face of a rapidly evolving business landscape."

For more information on the Abba Medix Group, please visit www.abbamedix.com.

Cautionary Statements Regarding Forward-Looking Information

Certain statements within this press release relating to the Company constitute "forward-looking statements", within the meaning of applicable securities laws, including without limitation, statements regarding future estimates, business plans and / or objectives, sales programs, forecasts and projections, assumptions, expectations, and/or beliefs of future performance, are "forward-looking statements". Such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and / or sales of medical marijuana, quantities of future medical marijuana production, anticipated revenues in connection with such sales, the overall projected size of the market, completion and / or expansion of production facilities, and other information that is based on forecasts of future results, estimates of production not yet determinable, and other key management assumptions. Actual results may differ materially from those expressed or implied by such forward-looking statements and involve risk and uncertainties relating to the Company's historical experience with regulatory changes, timeliness of government approvals for the granting of permits and licenses, changes in medical marijuana prices, actual operating performance of facilities, and other uninsured risks. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Abba Medix Group Inc.
    Ahmad (Ray) Rasouli
    Chief Executive Officer
    (905) 492-9420
    www.abbamedix.com