Abacus Health Products Enters U.S. Convenience Store Market with New Distribution Agreement
Woonsocket, RI and Toronto, ON – October 15th, 2019 – Abacus Health Products, Inc. (CSE: ABCS, OTCQX: ABAHF) (“Abacus” or the “Company”) today announced that it would be entering the convenience store market segment through an agreement with E&S International Enterprises, Inc. (“ESI”), for the distribution of CBDMEDIC™ products to this channel. ESI has a strong presence in the convenience store channel based on its leadership in the wholesale and distribution of consumer products.
Abacus has developed new form factors of its leading topical pain relief and skincare product line, CBDMEDIC, as well as unique presentation platforms, specifically designed for the convenience store market. Abacus launched its offering at the 2019 NACS show in Atlanta, Georgia, the National Association of Convenience Stores premier industry event. During the show Abacus met with leading retailers and suppliers and received positive feedback for its products.
“The convenience store channel represents over 150,000 locations across the United States and the distribution of our topical CBDMEDIC line of products is a natural extension in our efforts to offer our products to consumers across the United States. We are excited about our partnership with ESI, a leader in this channel, and look forward to seeing CBDMEDIC products on convenience store shelves in early 2020.” said Perry Antelman, CEO of Abacus.
ESI has developed a successful business distributing other products, including appliances, housewares, sporting goods, toys and other general merchandise through unique channels in the United States, including digital platforms, TV shopping platforms, sporting goods and outdoor specialty stores. ESI is also active in international distribution, predominantly in Latin and South America. Under the agreement with Abacus, ESI will also pursue these additional channels in the United States as well as select countries in Latin and South America, in close co-operation with Abacus. The agreement shall continue to be in effect until such time as either party terminates it, subject to 180-day prior notice requirement.
This news release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation, including, without limitation, statements relating to the distribution of products in the convenience store market segment and the execution of the Company’s growth strategy. 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, 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 and Uncertainties” in the Company’s annual
information form dated April 12, 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.
About Abacus Health Products, Inc.
Abacus is 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 the 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. Abacus currently offers two lines of products: CBD CLINIC™, marketed to the professional practitioner market, and CBDMEDIC™, marketed to the consumer market. Abacus’ products are offered across the United States and are produced by a contract manufacturer in a cGMP compliant and audited manufacturing facility.
To learn more about Abacus, visit www.abacushp.com
For further information:
Hank Hague, Chief Financial Officer
Email: [email protected]
Bill Mitoulas, Investor Relations
Email: [email protected]