EDMONTON, Alberta, Oct. 22, 2019 (GLOBE NEWSWIRE) — Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global commercial manufacturer of high-quality cannabinoid-based ingredients, formulations and products, and The Edlong Corporation (“Edlong”), a global manufacturer, marketer and provider of technology-driven natural flavor systems, ingredients and integrated solutions for the food and beverage industry, are pleased to announce they have entered into a Memorandum of Understanding (the “MOU”) to form a strategic Joint Venture partnership (the “JV”). The purpose of the JV is for the two companies to jointly create and market cannabidiol (“CBD”) flavor systems and product solutions for global food, beverage (alcoholic and non-alcoholic), and pet food industries.
Combining Edlong’s extensive expertise in the development, manufacturing and marketing of natural flavors and ingredients with Radient’s expertise in the industrial-scale extraction, purification and manufacturing of cannabinoid ingredients, the two companies will collaborate on the development of high-quality, CBD-based flavors and ingredients that will meet global health and safety regulations and appeal to large global consumer markets. Additional areas of interest for collaboration may be included in the future, should the two companies agree to pursue them.Headquartered in the United States, Edlong has innovation centers in Latin America and Europe, and distribution partners in Canada and Asia. Edlong is one of the only flavor houses in the world to specialize in dairy flavors, while also catering to growing markets such as dairy-free, vegan, plant-based, organic, non-GMO and allergen-free. In addition, Edlong’s scientifically engineered ingredients provide functional solutions to unique food & beverage manufacturing challenges, such as mouthfeel (richness and texture that impact flavors), flavor masking (to alleviate bitterness and off-notes), heat tolerance (flavors that maintain stability under high heat during processing), and replacement (healthy reduction and/or replacement of commodities, such as sugar).Radient is headquartered in Edmonton, Canada, with additional innovation and product development centers in France, Spain, and Germany. The Company’s proprietary extraction and downstream processing platform is based on a continuous-flow process which allows for much higher throughputs than other extraction technologies. Due to its rapid speed extraction method and the elimination of additional processing steps such as winterization, Radient is able to achieve higher levels of quality and consistency than other methods of extraction can provide, while retaining more of the natural active compounds (up to 99%) from plant biomass. The Company’s scientific product development team creates unique cannabinoid ingredients that provide solutions to current cannabinoid product manufacturing challenges. These products include standardized ingredients that ensure exact strength and potency, ingredients that improve the taste and shelf life of cannabinoid beverages and edibles, and full spectrum cannabinoid formulations. Denis Taschuk, President & CEO of Radient, stated: “We are very excited about the opportunity to work with an established international flavor company like Edlong. Radient’s team of in-house scientists have been developing unique formulations that we believe will tie in perfectly with Edlong’s innovative approach to flavor and ingredient manufacturing for foods and beverages. We look forward to working with Edlong and we are excited to see what kind of advancements we can make in the way of safe and appealing CBD-infused foods and beverages.”Laurette Rondenet, President & CEO of Edlong, stated: “Radient is the perfect partner to align with as we explore new opportunities in this dynamic category that is clearly poised for growth. We’re excited to bring our expertise together.”About Radient
Radient Technologies provides industrial-scale manufacturing solutions for premium natural ingredients and products. Utilizing its patented MAP™ extraction technology, Radient delivers superior customer outcomes in terms of ingredient purity, yield, and cost, serving global market leaders in industries such as foods & beverages, nutraceuticals, pharmaceuticals, cosmetics, and personal care. Since 2016, Radient has expanded its offerings to enter the cannabinoids market, using its MAP™ platform to provide premium ingredients that contain a full range of cannabinoid and terpene profiles. Please visit www.radientinc.com for more information.About Edlong
Experience the science and art of authentic taste. Edlong has the broadest global portfolio of dairy flavors and is the only certified woman-owned flavor house in the food manufacturing industry (WBNEC). Founded in 1914, Edlong is committed to world-class service in custom flavor development, applications and culinary support, regulatory compliance and supply chain performance. Their broad portfolio of dairy and dairy-free flavors improves classic taste profiles for Cheese, Butter, Sweet Dairy, Cream and Milk. Edlong’s natural flavors also help achieve individual clean label requirements, add indulgence, mask nutritional ingredient and plant protein off-notes, layer flavors for depth, and elevate a standard product to premium. Please visit www.edlong.com to reimagine your next innovation.SOURCE: Radient Technologies Inc. and The Edlong CorporationFor Radient, please contact: Caitlin Cheadle, Director of Communications: ccheadle@radientinc.comFor Edlong, please contact: Kim Gallo, Public Relations Specialist, Pepper Group:
kim@peppergroup.com, +1 847.496.2304Forward Looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the impact of the MOU; the parties’ abilities to form and operate the JV; the construction of the Company’s facilities; the expected throughput capacities at its facilities; the Company’s ability to develop cannabinoid ingredients and products; the Company’s ability to grow its business in the cannabis and hemp sectors and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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