Abacus Health Products Expands Its CBDMEDIC Offering to Major Retail Pharmacy Chain
Woonsocket, RI and Toronto, ON – October 30th, 2019 – Abacus Health Products, Inc. (CSE: ABCS, OTCQX:ABAHF) (“Abacus” or the “Company”) today announced that an additional major national retail pharmacy chain in the United States will be offering products from its CBDMEDIC product line. The products are expected to launch into 1,300 of the chain’s retail locations across the United States.
The chain will be adding three unique products from the CBDMEDIC product line to its shelves: Muscle & Joint Pain Relief Spray, Arthritis Aches & Pain Relief Ointment, and Back & Neck Pain Relief Ointment. The products are planned to be rolled-out in December 2019.
With the addition of these locations the CBDMEDIC line of products will be available in 19 retail chains and approximately 4,600 stores across the United States.
Three CBDMEDIC™ Pain Relief Products will be added to the Retail Chain’s Shelves / Source: Abacus
“The addition of another national chain marks an important milestone in our strategy of securing the largest US retail chains to distribute our CBDMEDIC line of products,” said Perry Antelman, CEO of Abacus. “The high quality of our products and the investment in brand awareness and support that Abacus continues to make have resulted in CBDMEDIC being one of the leading CBD brands with consumers. We look forward to working together with our new and existing retail partners to reach our goal of making CBDMEDIC accessible to all Americans.”
The chains in which CBDMEDIC will be available represent over 24,500 stores. The Company expects its retail partners to continue to expand their rollouts to additional locations over the coming quarters.
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 expected orders from retail chains 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]