Relevium Announces Strategic Investment in Leading Pediatric
Cannabis Company and Obtains Exclusive License for the Canadian
Market
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 FormulationsCannakids’ (“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
DevelopmentBoth 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
InvestmentRelevium 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 StatementsThis 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 UsechePresident and CEO
For more information about this press release:
Tel: +1.888.528.8687
RELEVIUM TECHNOLOGIES INCEmail:
investors@releviumcorp.comWebsite: www.releviumtechnologies.com
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