Vancouver’s Abattis Bioceuticals Corp. has announced that it has acquired the exclusive worldwide distribution rights to a Nanjing-based manufacturer of magnesium oxide panels.
Jiangsu Jiahui New Material’s panels are designed for any building used to cultivate botanicals, and are resistant to fire, bugs, mold and moisture. The panels can be used for flooring or interior or exterior walls.
Abattis develops and markets ingredients and equipment to North American medicinal markets, and said it is positioned to take advantage of marijuana legalization in the United States.
“We are excited to have the exclusive rights to this innovative product that offers unique performance features that are well suited for our Controlled Cultivation Environment (CCE) design,” said Abattis chief executive officer Michael Withrow.
“The products are energy efficient and when assembled, deliver a superior CCE that increase yields for medicinal plants and food while eliminating destructive pests that kill crops and profit.”
In exchange for the distribution rights, Abattis paid Jiangsu 100,000 shares. The agreement term is for five years.
