Category Archives: Market News

McCoy Global, Inc. (MCCRF: OTCQX International) | McCoy Global Inc. Announces Resignation of Vice President, Human Resources Tom Watts

McCoy Global Inc. Announces Resignation of Vice President, Human Resources Tom Watts

Oct 24, 2014

OTC Disclosure News Service

Houston, TX

This release includes additional documents. Select the link(s) below to view.

MCB Tom Watts Resignation 10 24 14 FINAL.pdf

Copyright © 2014 OTC Markets. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/MCCRF/news?id=90154

Abattis Bioceuticals Corp. (ATTBF: OTCQX International) | ABATTIS FILES FOR INJUNCTIVE RELIEF IN WASHINGTON STATE AND CLAIMS DAMAGES AGAINST FORMER EMPLOYEES, BUSINESS ASSOCIATES AND COMPETITOR, AFFINOR GROWERS, INC. AND CERTAIN OF ITS ASSOCIATES

ABATTIS FILES FOR INJUNCTIVE RELIEF IN WASHINGTON STATE AND CLAIMS DAMAGES AGAINST FORMER EMPLOYEES, BUSINESS ASSOCIATES AND COMPETITOR, AFFINOR GROWERS, INC. AND CERTAIN OF ITS ASSOCIATES

Oct 24, 2014

OTC Disclosure News Service

Vancouver, BC, Canada

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ABATTIS FILES FOR INJUNCTIVE RELIEF IN WASHINGTON STATE AND CLAIMS
DAMAGES AGAINST FORMER EMPLOYEES, BUSINESS ASSOCIATES AND COMPETITOR, AFFINOR
GROWERS, INC. AND CERTAIN OF ITS ASSOCIATES

 

Vancouver, BC
October 24, 2014 – Abattis Bioceuticals Corp. (the “Company” or “Abattis”)
(OTCQX: ATTBF) (CSE: ATT),

wishes to advise its shareholders that it has today, in U.S. Federal court in
Washington State, filed suit for damages and injunctive relief against prior
employees of PhytaLab (Dr. Kaleb Lund and Ms. Lauren Hilty), a former business
associate (James Baxter), a competitor (Affinor Growers, Inc.), its director
and former Abattis director (Nick Brusatore) and an employee of Herbal
Analytics LLC (Erin Leary).

 

PhytaLab is owned
51% by Abattis through its subsidiary, Abattis Bioceuticals International
Inc.  PhytaLab, originally founded as
Phytalytics LLC, was the first laboratory to provide testing services in
Washington State for medical Cannabis under State law.  PhytaLab recently announced that it received provisional
certification from the Washington State Liquor Control Board, thus enabling it
to provide services for the new legal Cannabis industry (refer to Abattis
news release of September 8, 2014).

 

In early
September, 2014, Dr. Lund and Ms. Hilty, part-owners of PhytaLab and
consultants to Abattis, provided PhytaLab with 30-days
notice of their resignations as managers of PhytaLab.  After providing notice, but prior to the
effective date of their resignations, they joined with Mr. Baxter and Affinor Growers
Inc. (CSE:AFF OTC: RSSFF) (via a Washington State subsidiary), to incorporate a
new Washington State limited liability company, Herbal Analytics, LLC, for the
purpose of competing with PhytaLab in providing testing services in Washington
State for medical Cannabis. 

 

Last week Abattis
obtained information that indicates that certain of the defendants, in
conspiracy with the other defendants, stole confidential and proprietary
information belonging to PhytaLab for the purpose of using PhytaLab
s proprietary information to prepare an
I-502 application with the state of Washington, to re-create PhytaLab
s laboratory facilities and business
model, and to take business from PhytaLab. Lund and Hilty’s actions are willful
breaches of their fiduciary duties as managers of PhytaLab, detrimental to the
value of their fellow shareholders’ investment in PhytaLab, and in direct
contravention of their ongoing consulting contracts with and obligations to
Abattis.

 

In conjunction
with our partner, Dr. Michelle Sexton, an owner and the Chief Executive Manager
of PhytaLab, Abattis and PhytaLab have acted quickly to prepare a Complaint for
Damages and Injunctive Relief, as well as an emergency motion for a temporary
restraining order (TRO).  The
Complaint and TRO were filed with the U.S. District
Court for the Western District of Washington and served on the defendants
earlier
this morning.
 As an emergency motion, a hearing on the
matter is anticipated to take place within 2-3 business days with the TRO being
put in place at that time.  A full
hearing for a preliminary injunction to run until the conclusion of legal
proceedings is expected to occur some time within 30-45 days of the entry of
the TRO.

 

While we cannot
guarantee that we will be successful in obtaining the TRO, these types of
requests are overwhelmingly granted in cases such as this where the defendants’
egregious behavior is plain and involves confidential and proprietary
information.  As such, we are confident
that the information that we have obtained will strongly support the immediate
imposition of a TRO and a preliminary injunction thereafter.  Upon obtaining the TRO and preliminary
injunction, and until a trial on the merits and a permanent injunction is
obtained, the defendants will immediately be required to:  (a) as to Dr. Lund and Ms. Hilty, stop
breaching their fiduciary duties, cease unfairly competing against PhytaLab/Abattis,
and stop breaching their obligations under their consulting agreements with
Abattis; and (b) as to all defendants: 
(i) stop tortiously interfering with PhytaLab
s ongoing and potential business relationships
with its employees, customers and prospective customers; (ii) stop conspiring
against PhytaLab/Abattis; (iii) stop their use of PhytaLab
s converted property; (iv) stop their
misappropriation of PhytaLab
s
trade secrets; (v) stop using information obtained from PhytaLab
s computers for the benefit of the
defendants and to the detriment of PhytaLab/Abattis; (vi) preserve all evidence
of their wrongful theft of PhytaLab’s confidential and proprietary information
as well as their scheme to breach their fiduciary obligations to the detriment
of their fellow shareholders; and (vii) hold all monies generated as a result
of their wrongful acts as constructive trustees for the benefit of PhytaLab/Abattis
with the eventual requirement to transfer the funds to PhytaLab/Abattis.

 

We will provide
further updates to our shareholders as this case proceeds.

 

Chairman
and CEO of Abattis, Mike Withrow, commented, “Our shareholders have been
financially attacked by individuals who owed an absolute duty of loyalty and
goodwill to the company.  We will use all
legal avenues available to us to stop their anticompetitive activity and recapture
any and all losses suffered and any gains they made from their actions.  Abattis welcomes spirited competition but we
will not stand idly by and allow nefarious schemes to derail the execution of
our best-in-class business model.”  He
went on to say, “Affinor proudly proclaimed on September 9th that “Herbal
Analytics has the staff, instrumentation, and procedures necessary to comply
with the scope of tests that Washington State requires for I-502 quality
control of Cannabis and associated derivatives.”  Initially we wished them well in their
endeavors but were stunned to subsequently learn that former owners of PhytaLab
and consultants to Abattis had conspired with Mr. Nick Brusatore, the Chairman
of Affinor and former Director of Abattis, to steal valuable confidential and
proprietary information from PhytaLab with the intent to harm Abattis. This
scheme was devised and implemented while these individuals were under contract
to Abattis and shareholders and managers of PhytaLab. Upon review of the
evidence, we were simply amazed by the brazenness of their conduct and the
willful manner in which they disregarded their contractual obligations and
promises. We have replaced the staff at Phytalab with talented people who come
with strong credentials and passion for science. I am pleased to have Ms.
Katherine Maloney, M.Sc Pharm. and Kyle
Shelton join are team.”  

 

About Phytalab.com

 

We wish
to advise our shareholders that despite the defendants
efforts, PhytaLab commenced operations
last month upon receipt of the provisional certification and has started to
generate initial I-502 based revenues from its business
. 
PhytaLab offers Cannabis analysis laboratory services under provisional
certification by the Washington State Liquor Control Board (WSLCB).  PhytaLab intends to continue to expand its
business of providing quality control testing services for I-502 Market
Marijuana Producers and Processors.  

 

PhytaLab
continues to lead the industry in scientific expertise with a team experienced
in the quality control, product development and use of botanical
medicines.  Dr. Michelle Sexton is a
published researcher and comes with extensive background and experience in analytical
chemistry and phytochemical analysis.  Dr. Sexton provided contracted services to the
WSLCB for design of the certification quality control checklist for good
laboratory practice.  Dr. Sexton
continues to lead our operations at PhytaLab. 
In addition, since the departure of Dr. Lund and Ms. Hilty, PhytaLab has
engaged new highly qualified personnel who are assisting us with our business
expansion plans in Washington State.   

 

PhytaLab (www.phytalab.com) is the original Washington Cannabis
testing facility setting the standard for Good Laboratory Practice in the
Cannabis industry.  It comes to this
industry with extensive herbal product experience. It offers a range of
services for growers, producer/processors and retail facilities and provides
data on which to base informed business decisions.  Its background in Botanical Medicine puts it
first when you are looking for help in product development for specific plant
chemotypes and standardization for reproducibility and efficacy. PhytaLab
offers consulting services to both business and regulatory entities.  We can help with questions around methods,
safety, packaging and labeling, and more. Please contact us for our unrivaled
expertise.

 

 

 

 

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About Abattis

 

Abattis is a
specialty biotechnology company with capabilities through its wholly owned
subsidiaries of cultivating, licensing and marketing proprietary ingredients,
bio-similar compounds, patented equipment and consulting services to medicinal
markets in North America.  The Company is
positioned to capitalize on the fast growing trend toward marijuana
legalization in the United States and for medicinal use in Canada and
international jurisdictions, by supplying and partnering with companies to
employ its mass cultivation systems, extraction equipment/technology, and
strategic marketing support to licensed growers. The Company also has an
extensive pipeline of high-quality products and intellectual property for the
rapidly expanding botanical drug market. We follow strict standard operating
protocols, and adhere to the applicable laws of Canada and foreign
jurisdictions. For more information, visit the Company’s website at: 
www.abattis.com.

 

ON BEHALF OF THE BOARD

 

 

“Mike Withrow”
Michael Withrow,
President CEO

 

For further information, contact the
Company’s CEO, Michael Withrow at (778) 896-6536 or at news@abattis.com.

 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS
REGULATIONS SERVICES PROVIDER HAVE REVIEWED
OR ACCEPT
RESPONSIBILITY FOR THE ADEQUACY
ORACCURACY OF THIS RELEASE.

 

FORWARD
LOOKING INFORMATION

This press
release contains forward-looking statements. The use of any of the words
“anticipate”, “continue”, “estimate”,
“expect”, “may”, “will”, “project”,
“should”, “believe” and similar expressions are intended to
identify forward-looking statements. Although the Company believes that the
expectations and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual results
could differ materially from those currently anticipated due to a number of
factors and risks various risk factors discussed in the Company’s Management’s
Discussion and Analysis under the Company’s profile on www.sedar.com. While the
Company may elect to, it does not undertake to update this information at any
particular time.

 

 

Copyright © 2014 OTC Markets. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/ATTBF/news?id=90163

Cerro Grande Mining Corp. (CEGMF: OTCQX International) | Cerro Grande Mining Corporation closes US$700,000 Private Placement and completes Debt Settlement

TORONTO, Oct. 24, 2014 /CNW Telbec/ – Cerro Grande Mining Corporation
(the “Company” or “CEG“) (CEG.CAC-CNSX-CEG.O-OTCQX) announces that it closed the private
placement of units of the Company (the “Placement“) and the debt settlement (the “Debt Settlement“) with two holding companies held by CEG directors (the “Directors“) as described in the news release dated October 20, 2014.

The participation of each Director in the Placement and the Debt
Settlement constituted a “related party transaction” under Multilateral
Instrument 61-101- Protection of Minority Security Holders in Special Transactions (“MI 61-101“).  The Company has relied on the “financial hardship” exemptions from
both the formal valuation and minority shareholder approval
requirements of MI 61-101 in connection with the Placement and the Debt
Settlement as described in the release dated October 20, 2014.

SOURCE Cerro Grande Mining Corporation

Article source: http://www.otcmarkets.com/stock/CEGMF/news?id=90167

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