March 13, 2012 08:00 ET
Abattis Announces Definitive Agreement with Animo Wellness Corporation
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2012) - Abattis Biologix Corporation (the "Company" or "Abattis") (CNSX:FLU), is pleased to announce that further to its news release of February 21, 2012, the Company has entered into a share exchange agreement (the "Agreement") with Animo Wellness Corporation ("Animo") and its shareholders for the Company's acquisition of 100% of the outstanding shares of Animo (the "Transaction").
Pursuant to the Agreement, the Company is acquiring all of the issued and outstanding shares of Animo in consideration for which the Company (i) will issue to the shareholders of Animo an aggregate of 500,000 common shares of the Company (the "Payment Shares") at a deemed price of $0.07 per share; and (ii) will pay the shareholders of Animo an aggregate of $25,000.
The closing of this transaction is anticipated to occur by or before March 31, 2012.
About Animo
Animo is a privately held company which holds 75 natural health product licenses "NPNs" issued by Health Canada. Its portfolio of these products ranges from A- Aloe Vera to Z- Zinc.
About Abattis Biologix Corporation
Abattis Biologix Corporation is a specialty bio-technology life sciences company that has acquired intellectual property, conducts research, and works to develop proprietary health and wellness solutions that address chronic illnesses and disease in animals and humans through proprietary and patent pending formulations. The company has identified targeted channels to market and license proprietary patent pending products throughout the world.
ON BEHALF OF THE COMPANY
Mike Withrow, Director
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