Relevium Enters Into LOI to Unlock Value of Wholly Owned Subsidiary BGX E-Health LLC and Announces Conference Call With CEO
October 29 2019 - 9:22AM
Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB:“RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to
announce On October 25, 2019, the Company received a letter of
intent (the “LOI”) to roll its interest in its wholly owned
subsidiary BGX e-Health LLC into Newscope Capital Corporation
(“Newscope”), a BC based privately held company seeking to become
an aggregator in the wellness space, including CBD and hemp space.
Under the preliminary terms of the LOI, Relevium
with is expected to receive 20 Million shares of Newscope at $0.50
per share, representing approximately 86% of the resulting
issuer. The total proposed transaction value is CAD$10
Million, which includes the business, its assets and liabilities,
intellectual property and certain key agreements currently under
consideration and review by management.
Newscope intends to complete a listing on the
CSE before the second quarter of 2020.
Aurelio Useche, CEO of Relevium Technologies
stated: “RLV’s valuation today is not representative of the sum of
all its components. We have been working diligently to unlock the
embedded value of each of our individual businesses, which will
provide shareholders with the true value that each business unit
has to offer.” Mr. Useche stated further: “The proposed transaction
with Newscope is the first step in further unlocking the value of
RLV’s components and we are looking forward to working with them to
execute the acquisition strategy, growing sales, expanding product
offerings and increasing the company’s global footprint.”
The LOI is subject to customary conditions
associated with such a transaction including due diligence as well
as internal, external compliance reviews and shareholder approval.
Additional information about the board, management and pertinent
transaction details including post transaction details will be
provided in a subsequent news release.
CONFERENCE CALL WITH CEO
We are delighted to announce a conference call
with Aurelio Useche, CEO of Relevium Technologies, to discuss the
company’s results for the fiscal year ended June 30, 2019 and to
discuss the company’s progress and plans for 2020.
The conference call will take place this Friday
November 1, 2019 at 4:00pm (16:00) via our conference portal. You
must pre-register to attend this call. Please use this link to
register your attendance:
https://zoom.us/meeting/register/6d084fc83a0b7f6dd746f627e8486654
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 using 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 INCEmail:
investors@releviumcorp.comWebsite: www.releviumtechnologies.com
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