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MONTREAL, June 30, 2021 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), announces today it has reached an agreement to settle the outstanding notes totalling $2,798,550.
SETTLEMENT DETAILS OF THE OUTSTANDING NOTES
On December 20, 2018, the company issued Notes to the Holders with a principal amount of $2,352,942, which matured on December 20, 2020, and were subsequently extended until June 1, 2021. As announced on June 10, 2021, the Company began negotiations to settle the outstanding debt and the Company and the Note Holders have agreed to settle the total of $2,798,550, including interest and accrued fees as follows:
Shares for debt settlement of $2,434,439 at a price equals to $0.02, reflecting market closing pricing in accordance with TSXV Exchange policy and pricing relief extended to issuers due to the pandemic.
Cash payment for the balance over the next 60-days totalling $364,111.
The settlement will not create a Control Person as defined by Canadian Securities Laws.
THIS SETTLEMENT AGREEMENT IS SUBJECT AND CONDITIONAL TO THE REVIEW AND APPROVAL BY THE TSX VENTURE EXCHANGE.
TOWNHALL AND CONFERENCE CALL
The Company will be hosting a TOWNHALL AND CONFERENCE CALL today at 4:15PM Eastern Time, where we are pleased to welcome John Kupice, CEO of H-Source Holdings (TSX.V: HSI).
Please note the details below for the event:
Date and Time: Wednesday June 30, 2021, at 4:15PM Eastern Time.
Registration: Attendees must register in advance by CLICKING HERE
Q&A Session: Please submit your questions to email@example.com using subject line “Question”
About Relevium Technologies
Relevium is a publicly traded Company that operates in the health and wellness industry, including cannabinoids, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets and cannabinoids. 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 in various segments including health, wellness, cannabinoid research and PPE business.
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