Relevium forms JV with Holistic to develop Biocannabix
November 16 2018 - 12:17PM
InvestorsHub NewsWire
Relevium forms JV with Holistic to develop Biocannabix
MONTREAL, QUEBEC -- November 16, 2018 --
InvestorsHub NewsWire -- Relevium Technologies
Inc.
(TSX.V: “RLV”, OTCQB: “RLLVF” and Frankfurt: “6BX”)
Mr. Aurelio Useche reports
RELEVIUM TECHNOLOGIES SIGNS JV WITH HOLISTIC INDUSTRIES FOR
BIOCANNABIX HEALTH CORPORATION
Relevium Technologies Inc. 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 U.S. 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, chief executive
officer.
"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 and in mid-May, the company 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-square-foot facility located in Montreal,
Que.
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 Oct. 16, 2018, the company announced
it was obtaining the exclusive licence for the formulations,
standard operating procedures and research data from CK Properties
and Cannakids, a U.S.-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 U.S. 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 co-operating 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 Relevium Technologies Inc.
Relevium is a publicly traded company that operates in the health
and wellness industry, including legal cannabis, with a primary
focus on on-line 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.
We seek Safe Harbor.
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