Abacus Health Products Announces Addition to Board of Directors

WOONSOCKET, RI and TORONTO, July 31, 2019 /CNW/ - Abacus Health Products, Inc. ("Abacus" or the "Company") (CSE: ABCS) (OTCQX: ABAHF) is pleased to announce that Mr. Hannan Fleiman has joined its board of directors.  Mr. Fleiman will also serve as Chair of the Company's Audit Committee and Corporate Governance, Nominating and Compensation Committee. With the addition of Mr. Fleiman, Abacus now has a total of five directors on its board.

"I am pleased to welcome Hannan Fleiman to Abacus' board of directors," said Perry Antelman, CEO of Abacus. "Hannan's multiple roles throughout his career make him an invaluable addition to the board; offering both financial and industry expertise for Abacus as we build a world-class team with diverse skills, viewpoints and backgrounds to serve as an excellent foundation to support and propel the Company's expansion."  

Mr. Fleiman is a co-founder of Grassfed Ventures Inc., a venture capital and advisory firm focused on the cannabis, life sciences, and eSports industries. He also served as an executive at Trait Biosciences Inc., a bio-technology leader in the cannabis industry, and co-founded and was the Chief Operating Officer of CanvasRx, which was acquired by Aurora Cannabis Inc. ("Aurora") in 2016. After the acquisition, Mr. Fleiman helped lead M&A efforts at Aurora, and was involved in over a dozen transactions. Prior to his involvement in the cannabis industry, Mr. Fleiman was Vice President of Operations of National Home Services, a subsidiary of Just Energy Inc. (TSX: JE), and a Senior Business Manager at Teva Pharmaceuticals Inc. where he managed the Hospital, OTC and Animal Care divisions. Mr. Fleiman holds an MBA from McMaster University and a Bachelor of Science degree from the University of Guelph.

Forward-Looking Statements

This news release contains forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities legislation. The forward-looking statements contained in this news release include, without limitation, statements relating to the Company's expansion and the execution of its 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 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. 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' 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

SOURCE Abacus Health Products

please contact Hank Hague, CFO, of the Company, at 416-479-9547 or [email protected]