Abattis Signs LOI with Canadian Artesian Ice, Bottlers of Clearly Canadian Products, to Manufacture CBD-infused Mineral Water
VANCOUVER, British Columbia, March 13, 2018 /PRNewswire/ -- Abattis Bioceuticals Corp. (the "Company" or "Abattis ") (CSE: ATT) (OTC: ATTBF) is pleased to announce it has entered into a non-binding letter of intent (the "LOI") with Canadian Artesian Ice Ltd. ("Canadian Artesian") to provide Canadian Artesian with, among other things, THC- and pesticide-free cannabidiol ("CBD") isolate, research and development services, nanoencapsulation and nanoemulsification services, analytical and regulatory services and access to Abattis's distribution and marketing channels to support the development, scalability and commercialization of a CBD-infused water for Canadian Artesian. Canadian Artesian is a bottler of Premium artesian 7.8 pH mineral water, based in Nelson, British Columbia, and is the bottler of Clearly Canadian Artesian mineral water. Pursuant to the LOI, Abattis and Canadian Artesian have agreed to negotiate in good faith the terms of a definitive research services agreement respecting the terms of their partnership.
"We are very excited about our new partnership with Canadian Artesian." stated Rob Abenante, President and CEO of Abattis. "The bottled water market is expected to be approximately $280 billion by 2020* and we believe point of origin will be the key differentiator among big players. In light of recent research indicating that more than 60% of North American bottled water comes from municipal water sources, Canadian Artesian's access to premium mineral well water positions it to produce a world-class line of CBD-infused mineral waters."
"Through our partnership with Canadian Artesian, we continue to fully integrate our complete suite of downstream solutions for the cannabis and hemp markets. Navigating current and future regulatory and compliance frameworks, from analytical testing to compliance with Health Canada regulations, is becoming increasingly complex. As with our other partners, we are offering Canadian Artesian a one-stop solution to support their expansion plans into CBD-infused finished products", added Mr. Abenante.
"We source our Premium artesian 7.8 pH mineral water from a 600-foot deep reservoir in Nelson, British Columbia. According to tests performed by the University of British Columbia, our mineral water has a similar chemical profile to mineral water from Fiji. We believe our partnership with Abattis will allow us to create a whole new category of premium functional mineral water", stated F. Boekel, Director of Canadian Artesian.
"The market for bottled mineral water is expected to maintain solid growth over the next five years. The combination of Canadian Artesian's premium point-of-origin water and our pesticide-, THC-free high purity CBD could set a new standard for premium pure and flavoured CBD-infused mineral waters," added Dr. David Galvez, Senior Science Advisor at Abattis.