Abba Medix Group Inc.

Abba Medix Group Inc.

June 08, 2015 16:27 ET

Abba Medix Group Inc. Announces Grant of Stock Options, and Appointment of Two New Officers

TORONTO, ONTARIO--(Marketwired - June 8, 2015) - Abba Medix Group Inc. ("Abba" or the "Company") (CSE:ABA) has granted stock options under its stock option plan and has appointed two new officers.

Stock options

The Company announces today that it has granted an aggregate of 450,000 stock options to directors of the Company, each such stock option entitling the holders thereof to acquire one common share of the Company at an exercise price of $0.46 for a period of five years. The stock options vest after a period of twelve months as of June 5, 2015.

Appointment of Officers

The Company is pleased to announce that M. Paul Cancilla, Board Member, has been appointed as the Secretary of the Company.

The Company is also pleased to announce that it has appointed Ms. Jae Sahota as Executive Vice President which appointment is conditional upon regulatory approval.

Ms. Sahota has over 20 years of experience in the health food and wellness industry for LifeMax Natural Foods Inc., including manufacturing, distribution, marketing, and sales. Her knowledge of the sector has enabled her to increase market-share while developing wide ranging marketing strategies for many well-known natural food products. With her highly refined skillset, Ms. Sahota has brought new products to market, from the concept stage to production to getting it in the hands of consumers and launching numerous product brands that can be found on the shelves of the largest grocery chains in Canada.

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. 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.
    Ahmad Rasouli
    Chief Executive Officer
    (905) 492-9420