Abattis Signs LOI to be North American Distributor of Cromogen's Cannabinoid Class Compound "Cannabidiol" or "CBD"
Published: Mar 05, 2013
VANCOUVER, March 5, 2013 /CNW/ - Abattis Bioceuticals Corp. (the "Company" or "Abattis") (OTC PINK: ATTBF) (CNSX: FLU), announces it has signed a Letter Of Intent for a multimillion dollar supply agreement with Cromogen Biotechnologies to purchase Cannabidiol or "CBD's" for the use of creating infused products to be sold in the US Natural Health Product Market(s). Under the terms of the agreement the CBD's being supplied to Abattis are not listed as Scheduled 1 Drugs. Cannabinoids are a group of 21-carbon-containing terpenophenolic compounds produced uniquely by Cannabis sativa and Cannabis indica species. These plant-derived compounds may be referred to as phytocannabinoids. Although delta-9-tetrahydrocannabinol (THC) is the primary psychoactive ingredient, other known compounds with biologic activity are cannabinol, cannabidiol (CBD), cannabichromene, cannabigerol, tetrahydrocannabivarin, and delta-8-THC. Cannabidiol, in particular, is thought to have significant analgesic and anti-inflammatory activity without the psychoactive effect (high) of delta-9-THC. Source National Cancer Institute at NIH.