Abattis signs distribution agreement with GD Pharma

Abattis Bioceuticals Corp. announced that it has reached a definitive agreement with GD Pharma to sell Abattis products exclusively in South Korea effective immediately.

Since last year, GD Pharma has been aiding a subsidiary of Abattis, Northern Vine Canada Inc, in researching and identifying opportunities for the sale of CBD in South Korea.

“With GD Pharma’s established distribution channels in the region, we believe the potential for our products in South Korea is very bright,” said Rob Abenante, president and CEO of Abattis. “The hemp market is just beginning to open up in South Korea, which as a nation imported approximately 20-30 tons of hemp seed per week from Canada last year. We see major potential with this market.”

GD Pharma has expressed its willingness to further work on research and development with Abattis’ science team to develop more CBD-infused products. Upon successful development, these products will be sold in North American markets through another subsidiary of Abattis, Vergence Naturals Ltd, and will be sold in Europe and South Korea wholly through GD Pharma’s network.

“Global Damon Pharma is very happy to make our partnership with Abattis official. We will proactively identify and strategically source the marketing, sales, and distribution channels that we believe will benefit our partnership, and the products we will deliver to South Korea,” said Don Ki Kim, CEO of GD Pharma. “We are excited to demonstrate our expertise in sales and marketing, as well as timely and compliant delivery of revenues oversees to our partners. We are currently searching for the most suitable partner in the pharmaceutical sector in order to seek more medical benefits from CBD, so that we can work with Abattis in their lab to formulate products together.”

Abattis is a life science and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada.

“We could not be more excited about this opportunity to work with a company like GD Pharma,” added Abenante.  “GD Pharma will assist Northern Vine and Vergence in developing formulations and products specifically targeted to South Korea’s significant and rapidly evolving CBD market.”

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