Relevium Issues Corporate Update on MCTO and Filing of Financial Statements
December 18 2020 - 8:17PM
Relevium Technologies Inc. (TSX.V: “RLV”, OTC: “RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”) announces an update
on its ongoing disclosure obligations and to its previously
disclosed management cease trade order ("MCTO"), announced on
October 27, 2020, with respect to the audited annual financial
statements for the year ended June 30, 2020, the interim financial
statements for the first quarter of operations for the three months
ended September 30, 2020 and the corresponding management's
discussion and analysis for both filings (collectively, the
“Required Financial Filings”) that were not filed by the required
filing deadline of October 28, 2020 for the annual financial
statements and November 30, 2020 for the interim financial
statements (the “Filing Deadlines”).
The Company has received further extensions on
the Filing Deadlines concerning the Required Financial Filings,
which must be submitted at the earliest possible date and not later
than January 15, 2021. As such, the management cease trading order
or MCTO will be in effect until the Required Financial Filings are
filed and requires that the Required Financial Filings be
filed.
Until the Required 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.
Aurelio Useche, CEO of Relevium stated: “The
delays in the filings of the required financials were due to two
major facts. First, the Company retained new auditors, RSM Canada
LLP, which normally means the additional burden of a learning
curve. The second reason has been the effect of the COVID-19
pandemic on the preparation of the files, new disclosures and
valuation assessments.” Mr. Useche stated further: “We continue to
work diligently with our new auditors to complete both periods as
soon as practicably possible.”
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.com Website: www.releviumtechnologies.com
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