Relevium Announces $1.8M Private Placement and Closing
May 25 2020 - 2:50PM
Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”) is pleased to
announce today a private placement offering of up to 58,000,000
units (the “Units”) of the Company at a price of $0.035 per Unit
(the “Offering”), with each Unit consisting of one share and one
common share purchase warrant (a “Warrant”). Each Warrant entitles
the holder to acquire one common share of the Company at a strike
price of $0.05 for a period of two years from the date of issuance.
The Warrants are subject to an acceleration feature if the volume
weighted average price of the common shares trades at or
above $0.075 on the TSX Venture Exchange (“TSXV”) for a period of 7
consecutive days starting from four months and a day from
closing.
CLOSING OF FINANCING The
Company has received subscription agreements for a total of 51.4
million units for gross proceeds of approximately $1.8M. The
Company has agreed to and may pay a finder’s fee of 10% cash and
10% broker warrants for Units sold to certain accredited investors
(“Broker Warrants”). Each Broker Warrant entitles the holder to
acquire one common share of the Company at a strike price of $0.05
for a period of one year from the date of issuance.
The net proceeds of the Offering will be used to
fund business development as well as working capital purposes.
All securities issued pursuant to the Offering
are subject to a statutory four month hold period and regulatory
approval.
MINIMUM PRICE TEMPORARY
RELIEFThe Offering is proceeding pursuant to an
application by the Company to the TSXV for a waiver from the
minimum $0.05 price for private placements pursuant to the TSXV
Bulletin dated April 8, 2020 (the “Bulletin”). Under TSXV Policy
4.1 – Private Placements, the offering price for a financing
involving the issuance of Listed Shares must not be less than the
applicable Discounted Market Price, which includes a minimum price
of $0.05. Under the current, temporary relief policy of the TSXV,
the minimum offering price is revised from $0.05 to $0.01 in
certain circumstances where the market price of an Issuer’s Listed
Shares is not greater than $0.05.
About Relevium Technologies
Relevium is a publicly traded Company that
operates in the health and wellness industry, including legal
cannabis, with a primary focus on online distribution. The
principal business of the Company is the identification,
evaluation, acquisition and operation of brands and businesses in
the health and wellness markets and medical cannabis. The Company
pursues its business strategy through an acquisition and
partnership model in a holistic approach to encompass a wide range
of health and wellness consumer products. Relevium operates through
two wholly owned subsidiaries:
BGX E-Health LLC (BGX), based in Orlando,
Florida, markets dietary supplements, nutraceuticals, sports
nutrition and cosmeceuticals primarily through its Bioganix® brand
portfolio in the US and Europe. Relevium’s premium brands are sold
at some of the world’s largest retailers including Walmart.com and
Amazon.com.
Biocannabix Health Corporation (BCX), based in
Montreal, Quebec, is a biopharma nutraceutical Company focused on
delivering pediatric endo-medicinal nutraceuticals for cannabinoid
therapy.
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 StatementsThis release includes
certain statements and information that may constitute
forward-looking information within the meaning of applicable
Canadian and United States 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, 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", or "would" 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. 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.
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 to rely on the
applicable safe harbor.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES
INC.
Aurelio UsechePresident and CEO
For more information about this press release:
Tel: +1.888.528.8687
RELEVIUM TECHNOLOGIES
INCEmail: investors@releviumcorp.com Website:
www.releviumtechnologies.com Like us on FacebookFollow us on
Twitter Follow us on LinkedIn
Relevium Technologies (TSXV:RLV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Relevium Technologies (TSXV:RLV)
Historical Stock Chart
From Jul 2023 to Jul 2024