MONTREAL, Nov. 15, 2018 (GLOBE NEWSWIRE) --
Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and
Frankfurt: “6BX”) (the “Company”
or “Relevium”) is pleased to
announce it has executed a letter of intent to form a partnership
with Holistic Industries to jointly develop Biocannabix
Health Corp, the pediatric and geriatric focused biopharma
subsidiary of Relevium Technologies.
“We are very pleased to partner with one the
pioneers and leaders in medical cannabis in the US. The win-win
strategy of leveraging the many years of experience from Holistic
in growing and processing will allow the company to focus on
research and product development dramatically shortening the
development cycle and enabling the company to provide real medicine
faster to patients in need,” said Aurelio Useche, CEO.
“Holistic is very excited to partner with
Relevium on the development of Biocannabix Health Corp. and explore
the possibilities to develop products and intellectual property for
the benefit of pediatric and geriatric patients who need it most.
The combination of existing applications by our company and that
from CK Properties, combined with the know-how in nutraceutical
formulations and oils in Canada will open the doors to both
companies internationally,” said Rick Genderson, Chairman of
Holistic Industries.
Background
On April 19, 2018, Relevium announced its
intention to enter the medical cannabis market through its wholly
owned subsidiary Biocannabix Health (“BCX”) and in mid-May we
engaged Pipedreemz Consultants to begin the process of applying to
Health Canada to get fully licensed to operate in the legal medical
cannabis market. On July 19, 2018, the Company obtained the
approval by municipal authorities to establish a medical cannabis
biopharma on the selected 93,000 sq. ft. facility located in
Montreal, Quebec.
The objective that management set out for
Biocannabix is to build a fully integrated biopharma company with
control over plant genetics by growing specialized organic cannabis
strains, ensuring the best process to extract the purest and safest
form of cannabis concentrates and develop a true understanding, at
the molecular level, about the beneficial use, formulation and
dosage for pediatric and geriatric applications.
As part of this objective, on October 16, 2018,
the Company announced it was obtaining the exclusive license for
the formulations, standard operating procedures and research data
from CK Properties and Cannakids, a US based organization
specialized in research and direct medical applications of its
products for pediatric and geriatric purposes.
Partnership with Holistic Industries and
potential spinoff
Holistic Industries brings to Biocannabix five
years of successful cannabis experience and it is one of the
pioneers of the industry in the US. The company is licensed in four
states and the District of Columbia to grow, process, develop and
retail top quality and safe medical products to the market.
Holistic Industries major contributions are
expected to include knowledge transfer for growing organically,
management of genetic strains for specific health purposes,
processing technology as well as existing formulations from their
trusted Liberty product portfolio. Although a definitive agreement
is only expected within the next 60 days, both companies are
already cooperating in the design and capability development of the
facilities in Montreal.
Biocannabix Health is being structured to be a
leading Biopharma company focused on research and development of
cannabis derived Nutraceuticals, Pharmaceuticals and Medicinal
Foods. In order to ensure focus and support maximum value creation
for shareholders, Relevium is considering the eventual spinoff of
Biocannabix as a focused and separate publicly traded company.
About Holistic Industries
Founded in 2014, Holistic Industries is a
privately held pioneer in the medical cannabis market in the US and
was the first cultivation center to open in Washington D.C. and the
first to bring CBD to market. The Company owns and operates a total
of seven (7) medical cannabis grow facilities and eight (8)
dispensaries located in California, Maryland, Pennsylvania,
Massachusetts and the District of Columbia.
The Company operates fully integrated facilities
that include cultivation, processing, research & development
and packaging of top quality and safe products for medical
applications. The Company sells the highest quality, safest medical
cannabis available through its own dispensary network under the
brand Liberty, where customers are assured the treatments they
need. The Company’s top priority is to provide access to quality,
safe medicine within all of the markets in which the Company is
licensed to operate.
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 operations 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, BGX markets dietary supplements,
nutraceuticals, sports nutrition and cosmeceuticals primarily
through its Bioganix® brand portfolio in the US and Europe.
Relevium’s brands such as Bioganix® are sold at some of
the world’s largest retailers including such as Walmart.com and
Amazon.com.
The Company’s strategy for growing its brands
includes expanding its product offering, adding new distribution
channels and developing partnerships that add value through
exclusive ingredients. BGX is currently testing a complete line of
dietary supplements derived from Cannabis with an initial focus on
hemp derived, whole plant organic extract rich in CBD
(cannabidiol). The product line will be marketed through its brand
LeefyLyfe® and will be sold first in Europe and then North America.
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.
Biocannabix Health Corporation
(BCX): Based in Montreal, Quebec, BCX is an
entrepreneurial venture to establish a vertically integrated
medical cannabis company in the Nutraceutical space. Located in the
city of Saint Laurent, the Company is in the process of licensing
and retrofitting a facility that will host a genetically focused
cannabis growth, extraction, formulation, research and development
and encapsulation of proprietary Nutraceutical and Medical
products.
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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