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.
About Cannakids
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.
Aurelio Useche
President and CEO
For more information about this press release:
Tel: +1.888.528.8687
RELEVIUM TECHNOLOGIES INC
Email: investors@releviumcorp.com
Website: www.releviumtechnologies.com
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