Abba Medix Group Inc.
CNSX : ABA

Abba Medix Group Inc.

April 15, 2016 15:33 ET

Abba Medix Group Inc. Announces Corporate Update

TORONTO, ONTARIO--(Marketwired - April 15, 2016) - Abba Medix Group Inc. ("Abba Medix" or the "Company") (CSE:ABA) is pleased to provide an update to shareholders regarding a restructuring of the management team and current operations.

Over the past few months, Abba Medix and the Board of Directors have been actively pursuing strategic acquisitions in the medical marijuana industry that would enhance shareholder value in the near term. Abba Medix has identified specific targets for the acquisition strategy and expects to complete certain agreements in the near future.

Ray Rasouli has resigned as Chief Executive Officer and Director of the Board of Abba Medix, effective immediately. The Board would like to thank Ray for his efforts in driving his vision for Abba Medix forward.

Abba Medix is pleased to announce the appointment of Gerry Goldberg, CPA, as a Director, Interim Chief Executive Officer and Chairman of the Board. Gerry is a partner in a prominent Canadian accounting firm and is head of the firm's Public Company group, which specializes in servicing both domestic and foreign companies listed on the U.S. and Canadian stock exchanges. In addition to the above, Gerry has experience in advising owner managed businesses and other clients as well as assisting them in securing both traditional and innovative forms of financing.

Gerry also currently sits on the Board of Directors of a number of public companies. For some of these companies, Gerry also serves as the Chairman of the Audit Committee.

Also, as part of the management restructuring, the current Director Richard Vallée has also assumed the role of corporate secretary and George Durst is no longer Chairman, but remains a Director.

Abba Medix will continue to provide regular updates regarding progress on its acquisition strategy and operations.

For more information about Abba Medix, please visit www.abbamedix.com.

About Abba Medix Corp.

Abba Medix Group Inc. (CSE:ABA) is the parent company of Abba Medix Corp; a purveyor of fine medical marijuana in Canada. In compliance with Health Canada's regulations, the Company's goal is to become a marketplace leader through strategic partnerships, mergers, and acquisitions to create a fully integrated medical marijuana marketplace. The Company's mission is to find, acquire or create joint venture opportunities in patient focused medical marijuana related companies, products, organizational events, sponsorships, educational training, and research and development within medical marijuana sector. For more information 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 medical marijuana operations, 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. Further, there can be no assurance that Abba Medix's medical marijuana license application will be approved by Health Canada, or that any prospective projects in the industry will be successfully completed. 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.
    Gerry Goldberg
    Interim Chief Executive Officer
    1-844-696-3349
    www.abbamedix.com