Relevium Technologies Completes Shares-For-Debt Transactions
October 01 2021 - 01:47PM
Relevium Technologies Inc. (TSX.V:“
RLV”,
OTCQB:“
RLLVF” and Frankfurt:
“
6BX”) (the “
Company” or
“
Relevium”) is pleased to announce that it has
completed its previously announced shares-for-debt settlements
pursuant to which the Company has settled an aggregate of
$2,434,439.16 of debt with certain holders of outstanding notes
through the issuance of a total of 121,721,958 common shares in the
capital stock of the Company at a deemed price of $0.02 per share
(the “
Shares-for-Debt Settlements”).
All of the shares issued pursuant to the
Shares-for-Debt Settlements are subject to a hold period of four
months and one day from the date of issuance.
The pricing of the common shares issued pursuant
to the Shares-for-Debt Settlements is in reliance of the temporary
relief measures established by the TSX Venture Exchange on April 8,
2020 (and extended on September 16, 2020, December 15, 2020 and
June 17, 2021), providing for temporary relief measures to its
Policy 4.3, lowering the minimum pricing from $0.05 to $0.01 per
share for shares issued pursuant to a debt settlement where the
market price of an issuer’s shares is not greater than $0.05.
Disclosure Required by NI 62-103This portion of
the press release is being issued pursuant to National Instrument
62-103 – The Early Warning System and Related Take-Over Bid and
Insider Reporting Issuers in connection with the filing of an Early
Warning Report regarding the acquisition of common shares in the
capital stock of Relevium by AIP Convertible Private Debt Fund L.P.
and AIP Private Capital Inc. (collectively,
“AIP”).
AIP were participants in the Shares-for-Debt
Settlements pursuant to which AIP acquired a total of 65,405,520
common shares in the capital stock of the Company at a deemed price
of $0.02 per share in settlement of an aggregate of $1,308,110.40
of debt.
Immediately prior to the closing of the
Shares-for-Debt Settlements, AIP held a total of 460,000 common
shares, representing approximately 0.22% of the Company’s issued
and outstanding common Shares. Immediately following the
Shares-for-Debt Settlements, AIP hold a total of 65,856,520 common
shares, representing approximately 19.99% of the Company’s issued
and outstanding common shares.
AIP participated in the Shares-for-Debt
Settlements in the ordinary course of business, and the acquisition
of the common shares was made for investment purposes. Depending on
various factors, including, without limitation, the Company’s
financial position, the price levels for the Company’s common
shares, conditions in the securities markets and general economic
and industry conditions, the Company’s business or financial
prospects and other factors and conditions that AIP deem
appropriate, AIP may increase or decrease their beneficial
ownership of common shares or other securities of the Company,
whether in the open market, by privately negotiated agreement or
otherwise.
A copy of the early warning report filed in
accordance with applicable securities laws by AIP in connection
with the Shares-for-Debt Settlements will be available on the
Company’s issuer profile on SEDAR at www.sedar.com. The Company’s
head office is at 1000 Sherbrooke Street West, Suite 2700,
Montreal, Quebec, H2A 3G4. AIP are located at Royal Bank Plaza,
South Tower, 200 Bay Street, Suite 3240, Toronto, Ontario, M5J
2J2.
About Relevium
TechnologiesRelevium is a publicly traded company that
operates in the health and wellness industry, including
cannabinoids, 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 cannabinoids. 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 in
various segments including health, wellness, cannabinoid research
and PPE business. Cautionary Note Regarding Forward-Looking
StatementsInformation set forth in this news release may
involve forward-looking statements under applicable securities
laws. The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement. The
forward-looking statements included in this document are made as of
the date of this document and the Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities legislation.
Although Management believes that the expectations represented in
such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. This
news release does not constitute an offer to sell or solicitation
of an offer to buy any of the securities described herein and
accordingly undue reliance should not be put on such.For
further information please contact:Tel:
+1.888.528.8687RELEVIUM TECHNOLOGIES INC.Email:
investors@releviumcorp.comWebsite: www.releviumtechnologies.com
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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