Aura Health Inc. (CSE:BUZZ) is pleased to announce the signing of master grower, Adrian Richelmi, to build and operate HolyCanna’s 60,000 square foot greenhouse facilty in Israel. Aura is a debt holder of HolyCanna that converts into 54% equity (see press release dated November 23, 2018).
Adrian offers over 15 years of expertise in growing medical cannabis for both soilless soil and hydroponics projects. His resume includes designing and building large scale production facilities along with extensive knowledge of industry standards and best construction practices. Adrian graduated from George Brown College with honors, specializing in architecture and design.
Daniel Cohen, CEO of Aura, added, “We welcome Adrian to our team to help with the next stage of building Aura’s vertical integration between Israel and Germany. In a very tight market for medical cannabis around the world, we are fortunate to have partnered with someone of Adrian’s caliber and expertise.”
Under the terms of the engagement, Mr. Richelmi has been retained for a 24-month term and will receive 600,000 common share purchase options of the Company (the “Options”), at an exercise price of $0.22. 475,000 Options are to vest immediately with the balance to vest upon certain milestones reached. The Options shall expire May 28, 2021.
About Aura Health Inc.
Aura Health is building an international network of vertically-integrated cannabis assets. The Company owns 80% of Pharmadrug, a German medical cannabis distributor, a convertible note to 54% of HolyCanna, a cultivation and nursery license holder in Israel, and has a binding LOI to purchase 57% of CannabiSendak, the builder of a network of dispensaries in Israel. Additionally, through significant extraction IP, Aura is dedicated to building a high-margin, downstream business of end-user products.
For further information, please contact:
Daniel Cohen, CEO
Aura Health Inc.
David Posner, Chairman
Aura Health Inc.
Deborah Honig, Investor Relations
Adelaide Capital Markets
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of Aura. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include reference to Aura’s marketing campaign, and the effectiveness of CanaCom, among others. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Canopy Growth and Acreage Holdings Remind Shareholders to Vote FOR Canopy Growth’s Plan to Acquire Acreage
- Shareholders are encouraged to vote before the deadline of 10:00 am (EST) on June 17, 2019
- Canopy Growth’s brands, technology and know-how is anticipated to provide Acreage with a significant advantage in an increasingly competitive U.S. market and fuel Acreage’s growth.
- Acreage shareholders will benefit from Acreage’s ability to achieve its growth strategy with an anticipated reduced cost of capital based on Canopy Growth affiliation.
- Canopy Growth shareholders will benefit from accelerated and turnkey access to the U.S. cannabis market upon the closing of the Transaction.
- Management of both firms believe they will create greater shareholder value together than as competitors in the U.S.
Canopy Growth Corporation (“Canopy Growth”) (TSX: WEED) (NYSE: CGC) andAcreage Holdings (CSE:ACRG.U, OTC:ACRGF, FSE:0VZ) (together, the “Companies”) thank shareholders for their overwhelming support to date and remind shareholders to vote on the applicable resolutions in connection with the proposed acquisition of Acreage by Canopy Growth (the “Transaction”), before the voting deadline of 10:00 am (EST) on Monday, June 17, 2019.
1 + 1 = Global Leadership: Joining Forces Today Provides for a Strategic Advantage Greater Than Either Company Could Build Alone
The boards of directors of both Canopy Growth and Acreage unanimously support the Transaction and believe that it will create significant value for both sets of shareholders and each recommend that their respective shareholders vote FOR the various resolutions at the respective special meetings of shareholders of Canopy Growth and Acreage.
Acreage shareholders will receive a significant upfront cash payment of approximately US$2.51 – US$2.63 per Subordinate Voting Share (with holders of other classes of Acreage Shares being entitled to an amount determined on an as-converted to Subordinate Voting Share basis) and are expected to benefit from accelerated expansion, improved scale, and a stronger market position in the U.S., powered by the IP and brand rights of the world’s leading cannabis company. For Canopy Growth shareholders, the Transaction represents a clear path for Canopy Growth to enter the U.S. cannabis market, when federally-permissible, and will introduce its brands and consumer products in the United States.
Additional information about the Transaction and benefits to shareholders can be found in the Companies’ respective management information circulars. An electronic copy of Acreage’s circular is available http://investors.acreageholdings.com/Acreage-Canopy-Deal. An electronic copy of Canopy Growth’s circular is available at https://www.canopygrowth.com/canopy-acreage-deal/.
Vote Today: Becoming a Voter is Fast and Easy
The deadline to vote for shareholders of both Acreage and Canopy Growth is 10:00 am (EST) on Monday June 17, 2019.
Even if you have never voted before, voting is fast and easy.
For Acreage Shareholders with Questions or Requiring Help Voting:
Contact Kingsdale Advisors at 1-866-229-8651 toll-free (within North America) or 1-416-867-2272 (for collect calls outside North America), or by email at email@example.com.
For Canopy Growth Shareholders with Questions or Requiring Help Voting:
Contact Kingsdale Advisors at 1-866-581-1392 toll-free (within North America) or 1-416-867-2272 (for collect calls outside North America) or by email at firstname.lastname@example.org.
Cassels Brock & Blackwell LLP and Paul Hastings LLP acted as legal counsel to Canopy Growth. PricewaterhouseCoopers LLP (Canada) acted as finance advisor to Canopy Growth. Ernst & Young LLP (EY) acted as tax advisors to Canopy Growth. Greenhill & Co. Canada Ltd. provided an independent fairness opinion to the board of directors of Canopy Growth.
DLA Piper (Canada) LLP and Cozen O’Connor acted as legal counsel to Acreage. Canaccord Genuity Corp. acted as financial advisor to Acreage and provided a fairness opinion to the board of directors of Acreage. Stikeman Elliott LLP acted as legal counsel and INFOR Financial Inc. provided an independent fairness opinion to a special committee of independent directors of Acreage.
Kingsdale Advisors is acting as strategic shareholder and communications advisor and proxy solicitation agent to both Canopy Growth and Acreage.
For a more detailed description of the Transaction, readers should review the Canopy Growth and Acreage management information circulars.
About Canopy Growth
Canopy Growth (TSX:WEED,NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.
Canopy Growth’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 4.7 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
Headquartered in New York City, Acreage is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states with cannabis related licenses, according to publicly available information. Acreage owns licenses to operate or has management services or consulting agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of more than $17 billion in legal cannabis sales, according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage’s national retail store brand, The Botanist, debuted in 2018.
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “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 statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth, Acreage or their respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. These forward-looking statements include, but are not limited to, statements relating to the Companies’ expectations with respect to the anticipated benefits of the Transaction to the Companies and their respective security holders.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions; the occurrence or waiver of the triggering event; the ability of the Companies to satisfy, in a timely manner, the conditions to closing following the occurrence or waiver of the triggering event; other expectations and assumptions concerning the Transaction; and such risks contained in the management information circulars of Canopy Growth and Acreage dated May 17, 2019, in Canopy Growth’s annual information form dated June 28, 2018 and in Acreage’s annual information form dated April 24, 2019 and filed with Canadian securities regulators available on Canopy Growth and Acreage’s respective issuer profiles on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.
In respect of the forward-looking statements and information concerning the anticipated benefits and completion of the Transaction and the anticipated timing for completion of the Transaction, Canopy Growth and Acreage have provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time. Although Canopy Growth and Acreage believe that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and Canopy Growth and Acreage do not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
There can be no assurance that the Transaction, including the triggering event, will occur, or that it will occur on the terms and conditions contemplated in this news release. The Transaction could be modified, restructured or terminated. Actual results could differ materially from those currently anticipated due to a number of factors and risks.
The Transaction cannot close until the required shareholder, court and regulatory approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circulars to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
The Santa Monica store sells the entire Life Bloom OrganicsTM brand hemp-based CBD product line and other branded lifestyle accessories. It will also carry RISE’s KarezzaTM brand hemp-based CBD sexual wellness product line. The Company anticipates that the location will be used for events and pop-ups with partner brands and retailers, further broadening RISE’s consumer reach.
“For any brand, having a retail space is a fantastic way to create a brand experience; but for a Company creating hemp-based CBD products, where there is so much education that consumers want, providing a space where people can learn, touch, taste, and experience the products in person is key,” explained Ryan Rocca, President of RISE.
“California is the most important market for hemp-based CBD products. Retail is a great way to meet the consumer, and this location is a high traffic lifestyle hub: the famous heart of Dogtown, blocks from the beach, with decades of history in SoCal’s surf and skate community.”
The new retail store is located at 2665 Main Street, Santa Monica, CA 90405.
About RISE Life Science Corp.
RISE is currently developing and evolving medical and adult-use hemp-based formulations to create general use health and well-being products for the emerging consumer category made possible by the legalization of hemp in the United States pursuant to the Agricultural Improvement Act of 2018. The Company launched its CBD-based sexual wellness products in June 2018. The acquisition of Life Bloom Organics in July 2018 expanded RISE’s portfolio of CBD products from sexual health and wellness products to include general wellness, sleep, muscle recovery, intimacy and PMS products, and provides access to Life Bloom’s existing channels of distribution and production in the United States and California in particular. RISE also leverages Life Bloom’s proprietary process of nanotizing CBD for increased bioavailability (without psychoactivity) in future products created under the RISE brand umbrella.
RISE’s Life Bloom OrganicsTM brand and KarezzaTM brand proprietary ‘Nano’ hemp extract oral sprays, quick-dissolve oral tablets, and topical balms and lotions can be found at natural health food markets, chiropractic offices, specialty retailers and medical dispensaries in Southern California, as well as online at lifebloomorganics.com and karezza.love.
Cautionary Statement Regarding Forward-Looking Information
The Canadian Securities Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in RISE’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, continue, estimate, expect, intend, may, potential, believe, should, target, goals, projections, anticipated” and similar expressions, are forward- looking statements. Forward-looking statements may include, without limitation, statements including the Company’s expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although RISE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: general economic conditions; pending and proposed legislative or regulatory developments including the impact of changes in laws, regulations and the enforcement thereof; reliance on funding models; operational and infrastructure risks including possible equipment failure and performance of information technology systems; intensifying competition resulting from established competitors and new entrants in the businesses in which the Company operates; insurance coverage of sufficient scope to satisfy any liability claims; fluctuations in total customers; technological change and obsolescence; loss of services of key senior management personnel; privacy laws; leverage and restrictive covenants; fluctuations in cash timing and amount of capital expenditures; tax-related risks; unpredictability and volatility of the price of the Company’s securities; dilution; and future sales of the Company’s securities. Further risks include operational risks of operating in the U.S.; U.S. federal regulation risks; variation in U.S. state regulations; change of U.S. cannabis laws; security risks; risks related to permits and authorizations; risks related to potential acquisitions; risks on liability, enforcement complaints etc.; banking risks; marketing, sales, manufacturing and distribution risk regarding our product growth plans; changes in laws; limited operating history; reliance on management; requirements for additional financing; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult use cannabis industry; and regulatory or political change. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements.
For Investor inquiries, please contact:
Scott Secord, Executive Chairman
TruTrace Technologies Inc. (TSXV:TTT, OTC:BKKSF) (“TruTrace” or the “Company”), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, is pleased to announce that its shares will begin trading at market open on Friday, June 14th, 2019 on the Canadian Securities Exchange (“CSE”) under the symbol “TTT.” Effective at the close of business on Thursday, June 13, 2019, the common shares were delisted from TSX Venture Exchange at the request of the Company.
“This is the start of an exciting new chapter for TruTrace Technologies and one that enables us to pursue development opportunities outside of Canada, such as our intent to integrate our technology into the hemp based CBD industry, amongst other initiatives,” said TruTrace CEO Robert Galarza. “With this move, we can officially open our Los Angelesoffice, expand operations and take advantage of the significant business opportunities south of the border. The CSE listing should provide TruTrace with increased visibility with prospective global investors, improved liquidity and a more diversified shareholder base.”
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace’s technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace’s technology is proprietary, immutable and cryptographically secure, thereby establishing a single-source, accurate, validated and permanent account for cannabis strains from ownership to market.
Disclaimer for Forward-Looking Information
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including the statements regarding: (i) the trading date of the Company’s common shares on the CSE; (ii) the perceived benefits of the listing of the Company’s common shares on the CSE; and (iii) the Company’s future business plans following the listing of the Company’s common shares on the CSE. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information necessarily involves known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States, and elsewhere; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry generally in Canada, the United States and elsewhere; and other risks. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.
For further information: TruTrace Technologies Inc: Robert Galarza, Chief Executive Officer and Director; Media Relations: Corey Herscu, RNMKR Agency, 416-300-3030, email@example.com; Investor Inquiries: Jeff Codispodi firstname.lastname@example.org 647-278-9376
Khiron Life Sciences Corp. (TSXV:KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a cannabis company with core operations in Latin America, today announced the appointment of Wendy Kaufman as CFO, effective July 2, 2019. Ms. Kaufman, a Chartered Professional Accountant, brings over 20 years of international financial experience, having served most recently as CFO at Pasinex Resources Limited. Ms. Kaufman has significant experience with Latin American operations, gained during her tenure as CFO at Primero Mining Corporation, and previously in her role as Vice President, Finance and Treasury at Inmet Mining Corporation, among other executive management positions.
Alvaro Torres, CEO of Khiron, stated, “On behalf of our management team and Board of Directors, I welcome Wendy to Khiron. We are confident that Wendy’s financial leadership and experience will be of great value to Khiron and our stakeholders as we continue to grow our operations and brands in Latin America and internationally.”
Ms. Kaufman will be replacing Mr. Darren Collins who has concurrently resigned his position as CFO to pursue other interests. Mr. Collins has agreed to remain with the Company for an appropriate period in a transitional role. Mr. Torres stated, “On behalf of the Board of Directors and the entire Khiron team, I would like to thank Darren for his invaluable contributions and leadership as the founding CFO of the company. Darren has helped to build Khiron into the company it is today. We wish him the very best in his future endeavors.”
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in the country for the cultivation, production, domestic distribution, and international export of both THC (tetrahydrocannabinol) and CBD (cannabidiol) medical cannabis. In May 2018, Khiron listed on the TSX Venture Exchange, becoming the first Colombian based cannabis company to trade on any exchange globally.
With a focused regional strategy and patient oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. Khiron is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
Further information on Khiron Life Sciences can be found at www.khiron.ca.
To be added to the distribution list, please email email@example.com with “Khiron” in the subject line.
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron’s control, including the risk factors discussed in Khiron’s Annual Information Form which is available on Khiron’s SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Relevium Technologies Inc. (TSXV:RLV, OTCQB:RLLVF; FWB:6BX) (the “Company” or “Relevium”), is pleased to announce that Biocannabix Health Corporation (“Biocannabix”), a wholly-owned subsidiary of Relevium has executed on June 12, 2019 a binding agreement to acquire the shares of Lifeline Pharma SAS, a Cali based cultivation and extraction business in the burgeoning agro pharma market in Colombia.
KEY HIGHLIGHTS OF THE PARTNERSHIP WITH LIFELINE
- Best in class partnership for international vertical integration.
- Combination of Biocannabix focus on Pediatric Endo-Medicine with a large-scale operation with 150 years of sustainable, environmentally responsible and organic agricultural history
- Located in Rozo, Valle del Cauca, in the heart of the sugar cane enclave seven minutes away from the international airport and 10 minutes away from Cali’s downtown core and a population of over 3M people
- Multi-stage project with (1) an initial 5 hectares that includes the local offices, a laboratory, a fully enclosed greenhouse for tissue culture and micropropagation and an initial cultivation of over 200,000 square feet in open air green houses, (2) an option to expand to an additional 20 hectares or 2.2 million square feet of open air greenhouse cultivation and (3) the possibility to expand to another additional 60 hectares or 6.5 million square feet of cultivation.
- Full registration of 668 genetic strains with the ICA, the Instituto Colombiano Agropecuario.
- Three licenses in progress including (1) extraction and manufacturing, (2) cultivation with THC and (3) non-psychoactive cultivation, all with scientific research, domestic sales and export modalities.
- Strategic low-cost infrastructure that allows for an estimated stage two flower capacity of 170,000 Kg per year with an initial estimated cost of production 0.53$ per gram.
- Development of an industrial scale extraction plant in the Pacific Free Zone, a private industrial park located minutes away from the cultivation project. The free zone offers the benefits of the free regime and seeks to promote and develop the process of industrialization of goods, the productive chain and the provision of services, as well as strengthen the competitiveness of its users and customers by taking advantage of the generated opportunities from international trade and bilateral agreements signed by Colombia.
- Genetics laboratory and agronomic research in the BioParque del Pacifico located in the campus of the International Center for Tropical Agriculture (CIAT) and the Colombian Corporation for agricultural research (Agrosavia).
STRATEGIC FIT FOR GLOBAL SUPPLY AND VERTICAL INTEGRATION
Relevium’s Bio-Pharma arm, Biocannabix, is focused in developing, marketing and selling endo-medicinal formulations on Nutraceuticals and Medical foods aimed primarily to pediatrics. An essential component of the strategy of delivering safe, 100% auditable medicine for pediatric patients is to ensure total control over the genetics, the cultivation and the processing of extracts. The partnership with Lifeline ensures a 100% organically grown product with access to over 600 registered genetic strains, the buildout of an EU GMP extraction facility in the Pacific Free Zone and the ability to trace and fully audit the process from seed to medicine through blockchain technology.
The strict regulation of the Colombian legal regime for cannabis only allow for the export of extracts and finished goods and we aim to service international demand for organically sourced medical cannabis extracts for LATAM, Europe and eventually the Asian continent.
LOCAL MARKET THAT IS READY TO ADOPT ENDO-MEDICINAL FORMULATIONS
Traditional remedies and natural medicine are an integral part of Colombian culture and with a fast-growing middle class and entrepreneurial nature, this market with a population of over 49 million is moving quickly to adopt cannabinoid therapy. Lifeline, through Biocannabix pediatric formulations, is poised to successfully obtain a significant market share of the local market.
Under the terms of the binding agreement, Biocannabix will acquire 100% of the shares on Lifeline Pharma SAS by investing an initial US$850,000 to be deployed during stage one of the projects. The initial investment is comprised of US$125,000 at signing, US$125,000 upon the grant of the initial licenses and a commitment to deploy funds totalling US$600,000 over the next seven months. As part of the transaction, Biocannabix Health Corporation will issue US$3,650,000 in shares representing approximately 41% of the shares outstanding of the wholly owned subsidiary.
In the event of a major transaction including a sale or a public offering, the shareholders of Lifeline Pharma will also receive an additional US$1.5 million to be settled in shares of Biocannabix or in cash.
Aurelio Useche, CEO of Relevium stated: “The acquisition and partnership with Lifeline Pharma SAS in Colombia represents the single most important development to date for Relevium, our team and our shareholders. This is the culmination of months of strategic re-alignment, negotiations and a lot of hard work by our team and the key stakeholders of Lifeline”. Mr. Useche added:” We are very pleased and proud to partner with the amazing team of Lifeline, including Oscar LIbreros CEO and Hossein Shadanlou COO and look forward to work together to execute on the common mission of providing safe, organically sourced and fully auditable endo-medicinal products for pediatric applications”
Oscar LIbreros, CEO of Lifeline Pharma SAS stated: “With over 150 years of tradition in organic farming and our objective to provide the best medical cannabis extracts and products, we are happy (THRILLED) to join forces and merge with Biocannabix Health Corporation in Canada. We look forward to delivering real value through the disciplined deployment of our operational strategy from Colombia to the world”
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.
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.
About Lifeline Pharma
Lifeline Pharma SAS is a privately owned vertically integrated agro-pharma business dedicated to scientific research, grow, extraction, production and export of medicinal grade cannabis derivatives. Incorporated in Cali, Colombia, Lifeline leverages 150 years of organic agriculture located in Rozo, Valle del Cauca, in the heart of the sugar cane enclave, only 7 minutes away from the international airport and 10 minutes away from Cali, the third largest city in the country.
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