Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and
Frankfurt: “6BX”) (the “
Company”
or “
Relevium”), is pleased to
announce it has executed a binding agreement to acquire 100% of the
shares of Sleipnir Nutrition Ltd. (“
Sleipnir”), a
UK health and wellness multi-brand portfolio entrepreneurial
company with products in superfood teas, skin care and beauty. The
transaction is expected to close before the end of this month.
“We are excited to continue to strengthen our
branding and global reach capabilities with the strategic
acquisition of Sleipnir,” stated Abis Hussain, Chief Marketing
Officer of Relevium.
The acquisition is expected to be accretive
immediately in terms of its current revenue base which adds
initially $500,000 USD to the consolidated topline of the Company
while positioning Relevium for growth in the European market.
Sleipnir is expected to spearhead all of the Company’s European
expansion activities including the introduction of its CBD brand,
LeefyLyfe™.
“The acquisition of Sleipnir Nutrition Ltd.
represents the second transaction after the completion of the
acquisition of Bioganix® approximately 16 months ago. Now that we
have re-positioned the Bioganix® brand and built the infrastructure
for growth, we are ready to resume our M&A strategy. Sleipnir
represents an exciting opportunity in terms of brand extension,
product diversification and European positioning,” stated Aurelio
Useche, CEO of Relevium.
The Acquisition of Sleipnir
- Broadens and deepens Relevium’s digital marketing, branding and
sourcing.
- Expands brand portfolio with Coco Smile®, Love Superfood Teas®,
Nakd Beauty® and Health Collective™
- Adds new revenue streams, four brands and local presence in the
European market
- Brings strategic new audience and customers across several
countries.
Sleipnir Founder and President Holly Llewellyn
joins Relevium in a key leadership role.
The total value of the transaction is estimated
to be US$397,725 including $US35,000 in cash at closing, a balance
of sale of US$100,000 paid in shares (S$50,000 paid six months
after closing and US$50,000 paid twelve months after closing) and
debt assumption of US$262,725.
“I am thrilled to join the Relevium team, which
gives us the leverage to expand our brands and exciting product
lines in the UK and Europe. The addition of LeefyLyfe TM opens the
door to exciting product innovation across our brands; this
transaction accelerates our collective opportunities for continued
growth and success within the Health and Wellness ecosystem,”
stated Holly Llewellyn, Founder of Sleipnir Nutrition Limited.
The transaction is subject to regulatory
approval by the TSX Venture Exchange.
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.
About Sleipnir Nutrition
Sleipnir Nutrition Ltd is a private limited company that owns
a portfolio of four health and wellness brands including Coco
Smile®, Love Superfood Teas®, Nakd Beauty® and Health Collective™.
The company retails its brands through major markets online
including Amazon.UK and its native website.
About Relevium
TechnologiesRelevium 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
research based medical cannabis company in the Nutraceutical
space.
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. 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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