MONTREAL, QUEBEC–(Marketwired – Dec. 12, 2017) – Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the “Company” or “Relevium”), is pleased to announce it has strengthened its balance sheet through the partial conversion of debentures into equity, and increased its cash position through the exercise of warrants and options. The Company is also pleased to provide an update on the Non-Binding Letter of Intent (“LOI”) announced October 25, 2017.
Highlights of this Press Release
- 0,000 reduction in long-term debt through conversion of debentures
- Inflow of over ,100,000 from warrant and option exercises
- Update on Non-Binding LOI announced October 25, 2017
Conversion of debentures
Debenture holders who participated in the June 12, 2017 financing have converted 0,000 of the outstanding convertible debentures at a strike price of {$content}.15. The Company will be issuing 6,000,000 common shares and 3,000,000 warrants convertible into 3,000,000 common shares at a price of {$content}.20 per share. The warrants have an expiry of 24 months dated from note issuance.
Aurelio Useche, CEO of Relevium Technologies stated: “We are very pleased with the vote of confidence from our debenture holders. Their initial support allowed Relevium to acquire BioGanix in June, and now their conversion reduces the long-term debt by 0,000, as well as the proportional ongoing interest costs.”
Warrant and stock option exercises
The Company has also received several warrant and stock option exercises recently resulting in cash receipts of over ,100,000. The Company has issued a total of 7,791,000 common shares to date.
Aurelio Useche stated: “The conversion of the warrants and options is also a welcomed vote of confidence from our stakeholders.” Mr. Useche continued: “We are privileged to have the market and TSXV community appreciate and recognize our operational efforts, which are reflected in the stock price. Everyone at Relevium, from the bottom up, is geared to generating an ROI. That ROI may be on the stock, technology investments or marketing dollars spent. We are very fortunate to have an engaged shareholder base, and look forward to executing our business strategy to their benefit.”
Update on Non-Binding LOI
On October 25, 2017 the Company announced a Non-Binding LOI. The payment for the assets was contemplated to be settled in common shares of Relevium Technologies. However, in light of the volatility in the price of the marketable securities since November 23, 2017, it has been deemed desirable to delay the transaction until further notice and particularly until the Company is able to reach an optimal structure for the transaction.
About Relevium Technologies
Relevium is a TSXV-listed company focused on growth through the acquisition of businesses, products and/or technologies with a focus on e-commerce, in the growing health and wellness sector. Relevium Technologies Inc. also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.
Neither 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 press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on several assumptions and is subject to several risks and uncertainties, many of which are beyond the Company’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Readers should not place undue reliance on forward-looking statements and forward-looking information, and are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake any obligation to update such forward-looking information, whether because of new information, future events or otherwise, except as expressly required by applicable law.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
Aurelio Useche, President and CEO
RELEVIUM TECHNOLOGIES INC.
Edward Ierfino
Investor Relations
+1(514) 562-1374
eierfino@releviumcorp.com
www.releviumtechnologies.com