The medical marijuana market is rapidly growing with 17 states legalizing the substance in the U.S. and newly established Marijuana for Medical Purposes Regulations (“MMPR”) in Canada. By some estimates, the current market of 40,000 patients in Canada could grow at the rate of 35% or more per year, outstripping the North American wine industry down the road.
Abattis Bioceuticals Corporation (CSE: ATT) (OTC: ATTBF) is one Canadian company that has been garnering attention. Over the past month, the stock has surged more than 500% from below $0.25 to more than $1.00 in recent trading sessions. Recently the company was also featured in an article by Fiona MacDonald entitled “Medical Marijuana Stocks Take Off as Investors Key in on First-Mover Advantage.”
In the article, MacDonald states:
“Mike Withrow, president CEO and director of Abattis Bioceuticals Corporation (CSE:ATT) (OTC:ATTBF) too sees a world of opportunity opening up, but the company takes a different, more diversified, approach.
“With an eye on capitalizing on the move toward marijuana legalization south of the border and towards wider-spread medicinal use in Canada and internationally, the Vancouver-based specialty biotechnology company has plans for the development, manufacturing, licensing and marketing of natural health and wellness solutions addressing chronic illnesses. It recently negotiated a deal with two top researchers to set up an analytics lab in Washington State.
“‘We have the ability to manufacture and market the most scientifically advanced natural therapeutic formulas based on proprietary technologies through multiple distribution channels,’ Withrow says.
“The company licenses and markets proprietary ingredients, bio-similar compounds, and patented equipment. It also provides consulting services to North America’s medicinal and adult marijuana markets via its wholly owned subsidiaries and seeks to utilize its Grow, Dry, Extract, Refine, and Sell model (known as GDERS) to produce pharmaceutical-grade phyto compounds with its ultimate goal of taking the lead in the emergent botanical drug market.
“Its strategy involves growing cannabis with its proprietary indoor mass farming systems, drying it with unique low temperature drying systems to enhance quality, extracting the active ingredients, refining the product, and selling it around the world. The company has two Marijuana for Medical Purposes Regulations (MMPR) applications in, and is looking to becoming one of the few licensed producers of cannabis in Canada that is publicly traded.
“Meanwhile, in the U.S., the company’s subsidiary, Biocube Systems, provide growers with an energy- and space-efficient cultivation system that generates high yields, enabling them to produce low-cost pharmaceutical-grade product. The subsidiary has just closed on acquiring the proprietary formulas from Green Gro Garden Supplies Ltd. and will build its customer base by marketing.
“But Abattis sees beyond the emergent medical and adult use marijuana industry, with Withrow noting that the company is looking to parlay its existing expertise into plants beyond marijuana.”
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