Abacus Health Products Announces First Purchase Order from a Major US Retail Chain Order marks CBDMEDIC's entry onto national retailer shelves
Abacus Health Products Announces First
Purchase Order from a Major US Retail Chain
Order marks CBDMEDIC's entry onto national retailer shelves
TORONTO
,
Feb. 28, 2019
/CNW/ - Abacus Health Products, Inc. (CSE: ABCS) ("Abacus" or the
"Company") today announced its first purchase order received from a major
United States
retail
chain. These products – expected to be on the shelves of select stores in the coming weeks – will
mark the first time the CBDMEDIC family of products will be available to consumers in a retail store
format.
CBDMEDIC Family of Pain Relief and Skincare Products, February 2019 (CNW Group/Abacus
Health Products)
"This purchase order marks an important milestone in our growth strategy of securing major US
retail chains to distribute our products," said
Perry Antelman
, CEO of Abacus. "These stores are an
initial step toward our ultimate goal of distributing our Over-The-Counter (OTC) registered products
through major retail chains from coast to coast and represents a major inflection point in the
accessibility of CBDMEDIC to the American market."
Abacus has developed a range of innovative products based on patent-pending technologies which
combine natural and organic ingredients, including a cannabinoid-rich hemp extract containing CBD
from the Cannabis sativa L plant. These OTC-registered medications are aimed at the large and
growing markets for topical pain relief and therapeutic skincare.
Abacus believes that the pain management and skincare markets represent medical areas with
substantial unmet needs, and that its CBDMEDIC line of products offer powerful, all-natural
alternatives to existing products.
The American Academy of Pain Medicine has estimated that chronic pain affects approximately 100
million Americans. Further, a 2018 research report by Allied Market Research estimated the global
topical pain relief market to be approximately
US$7.4 billion
in 2017.
According to the American Academy of Dermatology Association over 84.5 million Americans are
impacted by a form of skin disease and the total estimated cost of skin diseases include
US$15
billion
in prescription drugs and
US$10 billion
in OTC products.
For more information on Abacus' products or growth story, please refer to the company's investor
presentation on
www.abacushp.com
.
About Abacus Health Products, Inc.
Abacus is a company engaged in the development and commercialization of over-the-counter (OTC)
registered topical medications with active pharmaceutical ingredients and which contain organic and
natural ingredients, including a cannabinoid-rich hemp extract containing CBD from Cannabis sativa L
plant. Abacus' products are aimed at the rapidly growing markets for topical pain relief and
therapeutic skincare and are based on proprietary patent-pending technologies developed by
Abacus. Abacus' formulations combine advanced science with organic and natural ingredients to
provide safe relief. All products commercialized by Abacus are registered with the FDA and utilize
FDA-approved active ingredients. Abacus currently offers two lines of products: (i) CBD CLINIC
™
,
marketed to the professional practitioner market, and (ii) CBDMEDIC
™
, marketed to the consumer
market. Abacus is also developing a pipeline of other CBD products addressing additional medical
indications and targeting the health and wellness segments. Abacus' products are currently offered
across
the United States
and are produced by a contract manufacturer in a cGMP compliant and
audited manufacturing facility.
Forward-Looking Statements
This news release contains forward-looking statements or information (collectively, "forward-looking
statements") within the meaning of applicable securities legislation. Forward-looking statements are
based on a number of assumptions and are subject to a number of risks and uncertainties, many of
which are beyond the Company's control that could cause actual results and events to differ
materially from those that are disclosed in or implied by such forward-looking statements. These
include guaranteed purchase orders or subsequent orders from retail chains. Forward-looking
statements contained in this news release include, without limitation, statements pertaining to the
launch of new products, the proposed distribution and sales channels of the Company, and the
development of new products.
The forward-looking statements contained in this news release are based on management's current
expectations and are subject to a number of risks, uncertainties and assumptions, including
assumptions regarding the Company's ability to efficiently operate its business, market and
economic conditions, business prospects or opportunities, future plans and strategies, anticipated
events and trends, and regulatory changes that may affect the Company and its customers and
industry. There can be no assurance that actual results will not differ materially from those
expressed or implied in forward-looking statements. Undue reliance should not be placed on
forward-looking statements. Additional information about these risks, uncertainties and assumptions
is contained under "Risk Factors" in the Company's listing statement – Form 2A dated
January 29,
2019
, which is available under the Company's SEDAR profile at
www.sedar.com
. Each forward-
looking statement speaks only as of the date hereof, and the Company undertakes no obligation to
correct or update any forward-looking statement, whether as a result of new information, future
events or otherwise, except as required by applicable law.
Neither the Canadian Securities Exchange (operated by CNSX Markets Inc.) nor its Regulation
Service Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE
Abacus Health Products
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%SEDAR: 00002894E
For further information:
Hank Hague, Chief Financial Officer, 416-848-1457,
CO: Abacus Health Products
CNW 08:00e 28-FEB-19