Relevium & HempCo Sign Exclusive Product Agreement for PlanetHemp
November 24 2017 - 11:02AM
InvestorsHub NewsWire
MONTREAL, QUEBEC -- November 23, 2017 -- InvestorsHub NewsWire
-- Relevium Technologies Inc.
(TSX
VENTURE:RLV)(FRANKFURT:6BX)
(the “Company” or “Relevium”), a publicly-traded corporation
strategically focused on creating value through the acquisition and
development of e-brands, online businesses and e-retail
technologies in the Health and Wellness space, is pleased to
announce the signing of an exclusive brand and product assignment
with HempCo Canada (“HempCo”) for the Planet
Hemp brand.
Highlights
- Exclusive Brand and Product Assignment for the PlanetHemp
brand
- Relevium will market PlanetHemp products in the US and UK
- Exclusivity for online sales through Amazon, Walmart/Jet and
others
- Cooperate in developing new formulations and applications
- Initial 2-year term
Aurelio Useche, CEO of Relevium Technologies stated: “Initially
announced on May 10, 2017, this
Agreement has been a long time in the making.” Mr. Useche
continued: “This Exclusivity Agreement could not come at a better
time as people are gearing up for the Holiday Season, and the
Relevium Operations Team is gearing up to help people with their
post-Holiday wellness plans. Relevium is looking forward to bringing quality
PlanetHemp products to the US and UK in 2018.
We also look forward to developing new products with the team at
HempCo, especially as the regulatory
environment for certain hemp and CBD-infused products becomes more
favorable.”
Purpose
Relevium and HempCo have signed an Exclusive Brand and
Product Assignment (the “Exclusivity Agreement”). The Exclusivity
Agreement confirms that Relevium and HempCo intend to cooperate in the business
development, branding, marketing and e-retailing of PlanetHemp and all the Hempco products. This
includes proteins, seed, oils, natural bars, pet products and
CBD-infused products currently sold by HempCo on a B2B basis and on a B2C basis,
through its brand PlanetHemp. The parties have agreed to
create value through exclusive e-retailing rights of PlanetHemp in the USA and UK through Amazon and
its Website, as well as possible brand extension to sell in Jet,
Flipkart, Alibaba and other online retail platforms such as
Walmart.com and Costco.com.
Exclusivity
Relevium will sell and introduce new
products under the PlanetHemp brand for the United States
(USA) and the United Kingdom (UK) as per the above list of
e-retailing venues only and unless otherwise approved in writing by
HempCo. Additionally, and with HempCo written permission, Relevium might introduce parallel e-commerce
brands of the same products in the same territories; for the
purposes of pursuing business in platforms that would complement
the market strategy and spirit of cooperation in this
Agreement.
New Product Lines
In the spirit of cooperation Relevium and HempCo will cooperate in
the development of new products, formulations as well as new
applications for the Nutrition, Nutraceutical, Fitness Nutrition
and Skin-Care markets, to ensure an ongoing pipeline of new
products entering the market. Relevium and HempCo respectively have
the technical and marketing expertise to develop and brand the
exclusive products.
Term of Exclusivity
The initial term of this Agreement shall continue in full force
and effect for a period of two (2) years (the “Initial Term”).
Provided Relevium has complied with all the terms
and conditions and achieved the Minimum Annual Performance
Requirements, this Agreement shall be automatically renewed at the
end of the Initial Term or any Renewal Term, as the case may be, on
the same terms and conditions as set forth herein, save and except
the Minimum Annual Performance Requirements which shall be
increased in accordance with the terms, for successive periods of
three (3) year(s) (in each case a “Renewal Term”).
MINIMUM ANNUAL
PERFORMANCE REQUIREMENTS |
Year |
Annual Period |
Dollar Amount (CAD) |
1 UK |
January 1, 2018 to December 31, 2019 |
$200,000 |
2 UK |
January 1, 2019 to December 31, 2020 |
$400,000 |
1 USA |
January 1, 2018 to December 31, 2019 |
$600,000 |
2 USA |
January 1, 2019 to December 31, 2020 |
$1,200,000 |
total |
|
$2,400,000 |
Cooperation Conditions
The parties have executed a final Agreement and will begin the
process in an expeditious manner in order not to miss the
post-holiday season in 2018.
About Relevium Technologies
Relevium is a
TSXV-listed company focused on growth through the
acquisition of businesses, products and/or technologies with a
focus on e-commerce in the growing health and wellness sector.
Relevium Technologies Inc. also holds patented intellectual
property for the use of static magnetic fields for application on
wearable devices.
Neither 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 press release may contain forward-looking information
within the meaning of applicable securities legislation, which
reflects the Company’s current expectations regarding future
events. Forward-looking information is based on several assumptions
and is subject to several risks and uncertainties, many of which
are beyond the Company’s control that could cause actual results
and events to differ materially from those that are disclosed in or
implied by such forward-looking information. Readers should not
place undue reliance on forward-looking statements and
forward-looking information and are cautioned that reliance on such
information may not be appropriate for other purposes. The Company
does not undertake any obligation to update such forward-looking
information, whether because of new information, future events or
otherwise, except as expressly required by applicable law.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
Aurelio Useche, President and CEO
Website: www.releviumtechnologies.com
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CONTACT INFORMATION
Relevium Technologies Inc.
Edward Ierfino
Investor Relations
(514) 562-1374
eierfino@releviumcorp.com
www.releviumtechnologies.com
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