Relevium Provides Regulatory Update on Annual Financials and Management Cease Trade Order
November 30 2020 - 5:51PM
Relevium Technologies Inc. (TSX.V: “RLV”, OTC: “RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”) is providing an
update to its previously disclosed management cease trade order
("MCTO"), announced on October 27, 2020, in respect of the audited
annual financial statements and corresponding management's
discussion and analysis for the year ended June 30, 2020, including
the CEO and CFO certifications (collectively, the “Annual Financial
Filings”) that were not filed by the required filing deadline of
October 28, 2020 (the “Filing Deadline”).
As previously disclosed, the Annual Financial
Filings were not filed on or before the Filing Deadline due to the
fact that the Company has changed its auditors from Guimond
Lavallée Inc. to RSM Canada LLP and the COVID-19 pandemic. The
Company has been advised by its new auditors, RSM Canada LLP, that
they need more time to complete the audit. Due to the COVID-19
pandemic, the Company has experienced delays in providing to RSM
Canada LLP some of the information required for the completion of
this audit.
The Company is working expeditiously on the
steps required to complete the Annual Financial Filings and
expected to be able to file the Annual Financial Filings by
November 28, 2020. The Company and the auditors have requested
additional time will provide updates as further information
relating to the Annual Financial Filings becomes available.
The MCTO will be in effect until the Annual
Financial Filings are filed and requires that the Annual Financial
Filings be filed.
Until the Annual Financial Filings are filed,
the Company will issue bi-weekly default status reports in
accordance with National Policy 12-203 - Management Cease Trade
Orders. The Company intends to satisfy the provisions of the
Alternative Information Guidelines during the period it remains in
default of the filing requirements. The Company confirms that there
have been no material business developments or other material
information relating to its affairs as of the date of this news
release that have not been generally disclosed.
About Relevium
Technologies
Relevium is a publicly traded Company that
operates in the health and wellness industry 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. The Company
recently entered the PPE business as part of its strategy through
acquisitions and partnerships 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: +1.888.528.8687RELEVIUM TECHNOLOGIES
INCEmail: investors@releviumcorp.comWebsite:
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