Relevium Closes Private Placement Financing
June 11 2019 - 5:51PM
Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to
announce that it has closed a non-brokered private placement
financing for a total of 15,350,000 units (the "Units") at $0.08
per Unit, for total gross proceeds of $1,228,000.
Each Unit consists of one common share of
Relevium and one common share purchase warrant entitling the holder
to purchase one additional common share at $0.12 per share for a
period of one year from the date of the issue. Relevium has the
right to accelerate the expiry date of the Warrants if, at any
time, the average closing price of Relevium’s common shares is
equal to or greater than $0.15 for 10 consecutive trading days. In
the event of acceleration, the expiry date will be accelerated to a
date that is 30 days after Relevium issues a news release
announcing that it has elected to exercise this acceleration
right.
Proceeds of the private placement will be used
for general working capital purposes. In connection with the
initial tranche of financing, Relevium paid finders a cash
commission totaling $52,000 and issued a total of 320,000 finder's
warrants and 320,000 compensation shares. Each finder's warrant has
the same terms and conditions as the Warrants.
The securities issued under the financing will
be subject to a hold period expiring on October 11, 2019 pursuant
to applicable securities laws and the rules of the TSX Venture
Exchange.
Directors and officers of the Company subscribed
for 312,500 Units under the financing. As a result,
the issuance of Units to directors and officers is considered
to be a related party transaction subject to TSX Venture Exchange
Policy 5.9 and Multilateral Instrument 61-101. Relevium is relying
on exemptions from the formal valuation and minority shareholder
approval requirements provided under sections 5.5(a) and 5.7(a) of
Multilateral Instrument 61-101 on the basis that participation in
the private placement by insiders did not exceed 25% of the fair
market value of Relevium’s market capitalization.
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, markets dietary supplements, nutraceuticals, sports
nutrition and cosmeceuticals primarily through its Bioganix® brand
portfolio in the US and Europe. Relevium’s premium brands are sold
at some of the world’s largest retailers including such as
Walmart.com and Amazon.com.
Biocannabix Health Corporation (BCX), based in Montreal, Quebec,
is a biopharma nutraceutical company focused on delivering
pediatric endo-medicinal nutraceuticals for cannabinoid
therapy.
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:
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