MONTREAL, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce that it has executed a binding letter of intent for ...
MONTREAL, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce that it has executed a binding letter of intent for a strategic investment into CannaKids.org for an initial 25% equity. Cannakids is a leader in the medical cannabis patient research and consumer product development for pediatric and adult applications.
Strategic Focus on Patient Data and Exclusive Formulations
Cannakids’ (“CK”) patient research and product development has been centered primarily around pediatric applications, but the company services and guides patients of all ages. Counting with a database of thousands of patients, CK leverages a network of trained nursing staff, pediatric and adult dosing experts, medical doctors and leading researchers in the US and Israel. Cannakids’ formulations provide medically fragile patients with tailored products and profiles that are extremely similar to that of the actual flowers of the plant while remaining free of residual solvents and unwanted contaminants. CK’s carefully formulated products are certified Gluten-Free, Non-GMO, not tested on animals and Kosher. All products are lab tested for pesticides, residual solvents, microbiological agents, terpenes profiles and overall potency to ensure optimal quality. The company distributes its products through a growing and extensive network of licensed retail locations across California, all while working on both national and international expansion plans.
Aurelio Useche, CEO of Relevium Technologies stated, “With over four years of research, patient data and passion behind the real-life success stories with pediatric and adult patients, our investment in Cannakids is highly strategic and accretive to our shareholders.” Mr. Useche further stated, “We are proud to be business partners with Tracy Ryan (CEO) and her team of talented and passionate professionals and we look forward to a solid and mutually rewarding relationship.”
Tracy Ryan, CEO of CK Properties and Cannakids stated, “The team and I are beyond excited to partner with a group that is so focused on health & wellness and has the same mission and vision as we do here at Cannakids. In this quickly emerging market, we believe that it’s a partnership like this that will help to elevate not only our conversation around medical cannabis but allow us to more effectively access and service medically fragile patients on a much grander scale.”
The Canadian Exclusive License
As part of the strategic investment, the Company has obtained the exclusive Canadian license for Cannakids, which will allow Relevium to build upon CK’s existing infrastructure and standard operating procedures to launch the brand across Canada and to expand CK’s growing patient network to support ongoing research for cancer, autism and epilepsy, amongst other specialized applications.
Partnership in Research and Development
Both CK and Relevium count with a vast network of in-house and external advisors including nurses, medical doctors, renowned university researchers and scientists from the US, Canada and Israel, including the Technion Institute. Relevium and CK will partner their combined medical cannabis and nutraceutical formulation expertise to co-develop new products and delivery mechanisms for the US and Canadian Markets.
Structure of the Strategic Investment
Relevium will acquire an initial twenty five percent (25%) of the outstanding shares in CK Properties and CannaKids.org and will concurrently obtain the Canadian exclusive rights for a total consideration of USD$2.7 million. The company will issue 11,136,000 shares at closing for a total consideration of USD$1.2M and will schedule a series of five (5) quarterly cash advances of USD$300,000.
The transaction is subject to customary hold periods and approval by the TSX Venture Exchange.
About Relevium Technologies
Relevium is a publicly-traded company that operates in the health and wellness industry, a multi-billion-dollar market worldwide.
Relevium markets its products as dietary supplements, nutraceuticals, sports nutrition and nutri-cosmeceuticals. The Company plans on unveiling a complete line of dietary supplements for consumers derived from Cannabis Sativa and Cannabis Indica. The Company’s initial focus will be on creating a full spectrum extract rich in CBD (cannabidiol) which will be marketed and sold throughout North America. Relevium is also focused on developing a complete line of supplements, nutraceuticals, sports nutrition and nutri-cosmeceuticals. Relevium’s products and brands such as Bioganix® have achieved market penetration and now sold at some of the world’s largest retailers such as Walmart.com.
Relevium is also focused on the development, acquisition, marketing and sale of consumer products that are derived from cannabis and industrial hemp and other ingredients that are generally accepted as safe. The Company uses cannabinoids and ingredients that have achieved GRAS status (generally accepted as safe) to create brands that are sold via wholesale channels, retail channels and online distribution.
CannaKids.org is a privately held company that have provided CO2 extracted, lab tested cannabis oil products to thousands of patients over the past 4 years 1/2. Using nurse guided assistance, this brand has been synonymous with some of the most recognized patient success stories in the world. Catering to Patients of All Ages, Cannakids employs medical experts with dosing expertise that span across hundreds of ailments. The Company has indication specific formulations backed by anecdotal, in-house patient data, recent research, and medical findings from their partners at the Technion Institute in Israel.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the timing and completion of the proposed acquisitions, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the Company will be able to apply for and ultimately obtain an ACMPR licence, the proposed business of Biocannabix will develop as anticipated, that the Company will raise sufficient funds to develop the Biocannabix business, and that the Company will obtain all requisite regulatory approvals. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the proposed business developments may not occur as planned; the timing and receipt of requisite approvals and failure to raise sufficient funds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
President and CEO
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Source(s) : Relevium Technologies Inc
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