MONTREAL, Nov. 15, 2018 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”) is pleased to announce it 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 US. 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, CEO.
“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 (“BCX”) and in mid-May we 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 sq. ft. facility located in Montreal, Quebec.
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 October 16, 2018, the Company announced it was obtaining the exclusive license for the formulations, standard operating procedures and research data from CK Properties and Cannakids, a US 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 US. 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 cooperating 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 Holistic Industries
Founded in 2014, Holistic Industries is a privately held pioneer in the medical cannabis market in the US and was the first cultivation center to open in Washington D.C. and the first to bring CBD to market. The Company owns and operates a total of seven (7) medical cannabis grow facilities and eight (8) dispensaries located in California, Maryland, Pennsylvania, Massachusetts and the District of Columbia.
The Company operates fully integrated facilities that include cultivation, processing, research & development and packaging of top quality and safe products for medical applications. The Company sells the highest quality, safest medical cannabis available through its own dispensary network under the brand Liberty, where customers are assured the treatments they need. The Company’s top priority is to provide access to quality, safe medicine within all of the markets in which the Company is licensed to operate.
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, 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 medical cannabis company in the Nutraceutical space. Located in the city of Saint Laurent, the Company is in the process of licensing and retrofitting a facility that will host a genetically focused cannabis growth, extraction, formulation, research and development and encapsulation of proprietary Nutraceutical and Medical products.
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 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 Useche
President and CEO
For more information about this press release:
Tel: +1.888.528.8687
RELEVIUM TECHNOLOGIES INC
Email: [email protected]
Website: www.releviumtechnologies.com
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