MONTREAL, May 30, 2019 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce that its wholly owned subsidiary Biocannabix Health Corporation Inc., has completed necessary compliance process and obligations for the acquisition for exclusive licensing with cannabis company Cannakids®.
The Company’s Pediatric Cannabinoid Strategy
Biocannabix Health Corporation, a wholly-owned subsidiary of Relevium is focusing on delivering all the potential health benefits of cannabinoid formulations in full compliance of the legal and regulatory framework to Pediatric patients in Canada. The company will focus initially on nutraceutical formulations aimed at behavioral and developmental conditions including ADHD and Hyperactivity amongst others. The Company’s initial focus will be on education, compliance, branding and developing a fully auditable supply chain of Cannakids products nationwide.
Aurelio Useche, CEO stated: “According to Tecnavio2018, the global pediatric market for medicines will reach 121 billion by 2021 and we intend to lead the way in Endo-Medicinal Nutraceuticals.” Mr. Useche stated further: “We are delighted to have completed this lengthy process and very keen to start working towards building the pathway to the full commercialization of Pediatric Endo-Medicinal Nutraceuticals in partnership with Cannakids®.”
Biocannabix and the Exclusive Cannakids® License
On December 13, 2019 the Company announced it had renegotiated and restructured the original investment transaction in favour of an exclusive license of intellectual property, including formulations, SOPs and patient data for pediatric applications for the Canadian market. Under the exclusive licence agreement, Relevium has made an initial investment of CAD$1.3 Million through the issue of 11,911,111 shares and CAD$200,000 in cash.
The licensing agreement between Biocannabix and Cannakids® grants the exclusive Canadian rights to the CannaKids IP including formulations, SOPs, dosing, titration and patient data with a Royalty on sales of 13%.
Tracy Ryan, CEO of Cannakids®, stated: “The Cannakids team is ecstatic to now be extending our reach into Canada. It has always been our goal to help patients on a global scale, and we are proud to have Relevium as our Canadian partner to help us take that next step in making our dreams a reality. We look forward to helping Canadians find holistic relief from their ailments, all while working towards expanding our research to patients both, young and old.”
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, 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 such as 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.
CannaKids.org is a privately held company that has provided CO2 extracted, lab tested cannabis oil products to thousands of patients over the past 4 years. Using nurse guided assistance, the brand has been synonymous with some of the most recognized patient success stories in the world. Catering to Patients of All Ages, Cannakids employs medical experts with dosing expertise that span across hundreds of ailments. The Company has indication specific formulations backed by anecdotal, in-house patient data, recent research, and medical findings from their partners at the Technion Institute in Israel.
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.
President and CEO
For more information about this press release: Tel: +1.888.528.8687
RELEVIUM TECHNOLOGIES INC