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Abattis Bioceuticals to acquire Green Tree Therapeutics

Medical cannabis company Abattis Bioceuticals Corp. is looking to acquire Green Tree Therapeutics, which sells vaporizers across North America.

The company has entered a nonbinding agreement to buy Winston Resources Inc., which owns Green Tree Therapeutics.

Abattis plans to issue 5.5 million of its shares to Green Tree shareholders and another 25 million shares to Winston Resources as consideration for the purchase.

The Green Tree Therapeutics buy will help provide Abattis with an entry point into the vaporizers market, the company's CEO, Rob Abenante, said in a statement.