Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”), announced today
that it has been made aware of and requested by the OTC Markets
Group, Inc. to comment on recent promotional activity concerning
its common shares traded on the OTCQB market.
On June 27th, 2019, the OTC Markets Group sent
the Company copies of three newsletters sent on June 25 and June
26, 2019 by SmallCapFirm, a third-party marketing and awareness
firm utilized by StockWireNews, LLC (“StockWireNews”), which in
turn was utilized by one of the Company’s marketing firms, Shore
Thing Media, LLC (“Shore Thing”). The Company was not aware of the
newsletters until the OTC Markets Group sent the copies on June
27th, 2019.
After inquiry of management, except with respect
to the engagement of Shore Thing as further described below, none
of the Company’s officers were involved, directly or indirectly,
with the creation or distribution of promotional materials nor were
we asked to provide, nor did provide any editorial content.
After the Company was contacted by OTC Markets
Group regarding the promotional activity, the Company contacted
Shore Thing, and was informed by Shore Thing that Shore Thing
engages third parties, such as StockWireNews, which in turn also
engages third parties such as SmallCapFirm, for marketing, and pays
such third parties at market rates for such promotional
material.
The three newsletters discussed an overview of
the Company’s business along with other referenced firms. The
Company does not believe the statements referencing it in the
promotional materials were false or misleading. Other commentary in
the newsletters appears to express the author’s personal
opinions.
The Company believes the promotional activity
may have been a factor with respect to an increased price and
trading volume concerning the Company’s common shares that occurred
following the promotional activity. However, the small increase in
the share price during this period also corresponded with the
announcement of the Company’s medical cannabis strategy and
investor call during this period, which the Company believes may
also have been a factor with respect to such increased price and
trading volume.
After inquiry of Company management, none of the
Company’s officers, directors or controlling shareholders nor
third-party service providers, have sold or purchased Company
securities in the past 90 days other than the Company’s CEO, Mr.
Aurelio Useche purchasing 4,213,713 common shares from the
Company’s former controlling shareholder, Mr. Albertus Engelbrecht,
on May 21, 2019 in a private sale (see
https://releviumtechnologies.com/press-releases/2019/05/relevium-announces-private-share-purchase-by-ceo/)
and an acquisition by the Company’s Chairman of the Board, Mr.
André Godin, purchasing 375,000 common shares and 375,000 share
purchase warrants on June 11, 2019 pursuant to the Company’s
private placement (see
https://releviumtechnologies.com/press-releases/2019/06/relevium-closes-private-placement-financing/).
The Company has issued shares at a discount to
the current market rate at the time of the issuance through private
placements in accordance with the policies of the TSX Venture
Exchange. The Company recently closed a non-brokered private
placement financing on June 11, 2019 for a total of 15,350,000
units (the “Units”) at C$0.08 per Unit, each Unit consisting of one
common share and one common share purchase warrant to purchase a
common share at C$0.12, for total gross proceeds
of C$1,228,000 (see
https://releviumtechnologies.com/press-releases/2019/06/relevium-closes-private-placement-financing/).
In the past three years, the Company has held closings on other
private placements (see
https://releviumtechnologies.com/press-releases/2017/06/relevium-provides-corporate-update-and-final-closing-of-the-equity-financing/, https://releviumtechnologies.com/press-releases/2017/06/relevium-completes-acquisition-of-bioganix-and-initial-closing-of-concurrent-debt-and-equity-financing/,
https://releviumtechnologies.com/press-releases/2017/05/relevium-provides-update-on-financing-and-acquisition-of-bioganix/, https://releviumtechnologies.com/press-releases/2016/10/relevium-completes-maestro-private-placement/, https://releviumtechnologies.com/press-releases/2016/08/relevium-announces-closing-of-private-placement/
and https://releviumtechnologies.com/press-releases/2016/07/relevium-announces-private-placement-by-maestro-capital/.
The Company has not at any point issued convertible instruments
allowing conversion to equity securities at prices constituting a
discount to the current market rate at the time of the
issuance.
In the last 12 months, the Company has engaged
Renmark Financial Communications to provide investor relations
services, and Emerging Growth, LLC, Empire Relations Holdings, LLC,
Equity Insight Inc., Follow the Money Investment Group, Mediant
Communications, MI3 Communication, Investing News Network, Frontier
Flex Marketing, Stock House Publishing Ltd., Stonebridge Partners,
LLC and Shore Thing to provide marketing services. The engagement
of Shore Thing was terminated as of June 28, 2019.
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 operation 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 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
Statements
This release includes certain statements and
information that may constitute forward-looking information within
the meaning of applicable Canadian and United States 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, 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", or "would" 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.
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 to rely on the
applicable 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 INC
Email: investors@releviumcorp.com Website:
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