Abattis Bioceuticals Corp.

09:51 AM EST - Abattis Bioceuticals Corp. : Announced that, further to its new release dated December 7, 2018, the Company has entered into a definitive share exchange agreement with 1157016 B.C. Ltd., dba NutriVida, a private arm’s length company incorporated in the Province of British Columbia, pursuant to which the Company will acquire 100% of the issued and outstanding common shares of NutriVida. In consideration for the Acquisition, and on closing thereof, the Company will issue an aggregate of 58,823,529 common shares in the capital of Abattis, pro rata, to the NutriVida shareholders at a deemed price of $0.085 per Share and make a cash payment of $250,000 as provided in the Agreement. In addition, the Company has agreed to pay up to an aggregate of $10,000,000 to the NutriVida shareholders upon the achievement, by NutriVida, of certain performance milestones. The milestones outline aggressive growth targets that include obtaining permits for several US states as well as significant revenue targets for up to $50,000,000 in cumulative revenue commencing on the entry of the Agreement. Abattis Bioceuticals Corp. shares ATT:CNX are trading off 5.88 percent at $0.08.